BigBear.ai (NYSE:BBAI) Trading Down 1.3% – Here’s Why

BigBear.ai Holdings, Inc. (NYSE:BBAI) shares traded down 1.3% during mid-day trading on Thursday . The stock traded as low as $9.31 and last traded at $9.62. 63,531,285 shares were traded during mid-day trading, a decline of 7% from the average session volume of 67,954,844 shares. The stock had previously closed at $9.74.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. HC Wainwright boosted their target price on BigBear.ai from $3.00 to $7.00 and gave the company a “buy” rating in a research note on Monday, December 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $3.50 price objective on shares of BigBear.ai in a research note on Wednesday, November 6th.

BigBear.ai Stock Performance

The company has a 50-day moving average of $4.50 and a 200 day moving average of $2.66. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 2.08. The firm has a market capitalization of $2.27 billion, a PE ratio of -9.91 and a beta of 3.17.

Insider Buying and Selling

In other news, Director Sean Bernard Battle sold 44,813 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $4.46, for a total value of $199,865.98. Following the completion of the transaction, the director now directly owns 137,838 shares in the company, valued at approximately $614,757.48. This represents a 24.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Amanda Long sold 66,140 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $4.50, for a total value of $297,630.00. Following the completion of the transaction, the chief executive officer now owns 2,445,449 shares of the company’s stock, valued at $11,004,520.50. The trade was a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 310,953 shares of company stock worth $1,347,496 over the last ninety days. 1.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BigBear.ai

A number of hedge funds and other institutional investors have recently modified their holdings of BBAI. The Manufacturers Life Insurance Company boosted its holdings in shares of BigBear.ai by 135.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 41,073 shares of the company’s stock worth $62,000 after purchasing an additional 23,597 shares in the last quarter. Intech Investment Management LLC purchased a new stake in BigBear.ai during the 3rd quarter valued at about $61,000. State Street Corp boosted its holdings in BigBear.ai by 16.8% during the 3rd quarter. State Street Corp now owns 1,864,815 shares of the company’s stock valued at $2,723,000 after acquiring an additional 267,673 shares during the period. XTX Topco Ltd boosted its holdings in BigBear.ai by 57.9% during the 3rd quarter. XTX Topco Ltd now owns 61,011 shares of the company’s stock valued at $89,000 after acquiring an additional 22,363 shares during the period. Finally, Barclays PLC boosted its holdings in BigBear.ai by 310.3% during the 3rd quarter. Barclays PLC now owns 141,766 shares of the company’s stock valued at $208,000 after acquiring an additional 107,214 shares during the period. 7.55% of the stock is currently owned by hedge funds and other institutional investors.

About BigBear.ai

BigBear.ai Holdings, Inc provides artificial intelligence-powered decision intelligence solutions. It offers national security, supply chain management, and digital identity and biometrics solutions. The company also provides data ingestion, data enrichment, data processing, artificial intelligence, machine learning, predictive analytics, and predictive visualization solutions and services.