BigBear.ai (NYSE:BBAI) Trading Down 10.6% – Here’s What Happened

BigBear.ai Holdings, Inc. (NYSE:BBAI) shares dropped 10.6% during mid-day trading on Thursday . The stock traded as low as $6.73 and last traded at $7.03. Approximately 31,708,253 shares were traded during trading, a decline of 54% from the average daily volume of 68,979,070 shares. The stock had previously closed at $7.87.

Wall Street Analyst Weigh In

BBAI has been the topic of several research analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $3.50 target price on shares of BigBear.ai in a research note on Wednesday, November 6th. HC Wainwright upped their target price on shares of BigBear.ai from $3.00 to $7.00 and gave the company a “buy” rating in a research note on Monday, December 30th.

BigBear.ai Stock Down 10.4 %

The company’s 50 day moving average price is $4.82 and its two-hundred day moving average price is $2.81. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 2.08. The stock has a market cap of $1.77 billion, a P/E ratio of -7.74 and a beta of 3.17.

Insider Transactions at BigBear.ai

In related news, CEO Amanda Long sold 66,140 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $4.50, for a total value of $297,630.00. Following the completion of the sale, the chief executive officer now directly owns 2,445,449 shares of the company’s stock, valued at approximately $11,004,520.50. This represents a 2.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sean Bernard Battle sold 44,813 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $4.46, for a total transaction of $199,865.98. Following the completion of the sale, the director now directly owns 137,838 shares of the company’s stock, valued at $614,757.48. This represents a 24.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 310,953 shares of company stock worth $1,347,496 in the last quarter. Company insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On BigBear.ai

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cape Investment Advisory Inc. purchased a new stake in BigBear.ai in the 4th quarter worth approximately $40,000. Simon Quick Advisors LLC purchased a new stake in BigBear.ai during the 4th quarter valued at approximately $44,000. Captrust Financial Advisors purchased a new stake in BigBear.ai during the 4th quarter valued at approximately $45,000. Retirement Income Solutions Inc purchased a new stake in BigBear.ai during the 4th quarter valued at approximately $47,000. Finally, Bay Rivers Group purchased a new stake in BigBear.ai during the 4th quarter valued at approximately $48,000. 7.55% of the stock is 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.