BigBear.ai (NYSE:BBAI) Shares Down 1.2% – Here’s Why

BigBear.ai Holdings, Inc. (NYSE:BBAI)’s share price dropped 1.2% during mid-day trading on Thursday . The company traded as low as $2.98 and last traded at $3.07. Approximately 7,442,073 shares changed hands during trading, a decline of 65% from the average daily volume of 21,525,498 shares. The stock had previously closed at $3.11.

Wall Street Analyst Weigh In

BBAI has been the topic of several recent research reports. HC Wainwright cut their price target on BigBear.ai from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, March 7th. Northland Securities cut shares of BigBear.ai from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $2.50 to $4.00 in a report on Friday, March 7th. Northland Capmk lowered shares of BigBear.ai from a “strong-buy” rating to a “hold” rating in a report on Friday, March 7th. Finally, Cantor Fitzgerald lowered their target price on shares of BigBear.ai from $8.00 to $6.00 and set an “overweight” rating for the company in a research note on Friday, March 7th.

BigBear.ai Trading Down 0.8 %

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 stock has a market capitalization of $847.76 million, a PE ratio of -3.27 and a beta of 3.12. The business’s 50-day moving average is $5.12 and its two-hundred day moving average is $3.25.

Insider Activity

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BBAI. AE Industrial Partners LP acquired a new stake in shares of BigBear.ai during the fourth quarter worth $284,721,000. Vanguard Group Inc. lifted its stake in shares of BigBear.ai by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 5,790,608 shares of the company’s stock worth $25,768,000 after acquiring an additional 23,994 shares during the period. Geode Capital Management LLC boosted its holdings in shares of BigBear.ai by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 2,197,296 shares of the company’s stock valued at $9,780,000 after acquiring an additional 38,858 shares in the last quarter. State Street Corp increased its stake in shares of BigBear.ai by 16.8% during the third quarter. State Street Corp now owns 1,864,815 shares of the company’s stock worth $2,723,000 after acquiring an additional 267,673 shares during the period. Finally, TFG Asset Management GP Ltd acquired a new position in shares of BigBear.ai during the fourth quarter worth about $4,005,000. Institutional investors and hedge funds own 7.55% of the company’s stock.

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.