BigBear.ai (NYSE:BBAI) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

BigBear.ai (NYSE:BBAI) announced its quarterly earnings results on Tuesday. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.02, Briefing.com reports. BigBear.ai had a negative return on equity of 295.34% and a negative net margin of 104.53%. The firm had revenue of $41.51 million during the quarter, compared to analyst estimates of $45.04 million. During the same quarter in the previous year, the business earned $0.03 EPS. BigBear.ai’s revenue for the quarter was up 22.1% compared to the same quarter last year. BigBear.ai updated its FY 2024 guidance to EPS.

BigBear.ai Trading Up 1.6 %

BBAI traded up $0.03 during trading on Friday, hitting $1.77. The company’s stock had a trading volume of 2,948,662 shares, compared to its average volume of 6,560,686. BigBear.ai has a twelve month low of $1.17 and a twelve month high of $4.80. The firm’s 50 day moving average price is $1.58 and its 200-day moving average price is $1.52. The stock has a market cap of $441.98 million, a PE ratio of -1.91 and a beta of 3.46. The company has a debt-to-equity ratio of 1.99, a current ratio of 2.10 and a quick ratio of 2.10.

Insider Activity

In other BigBear.ai news, Director Bbai Ultimate Holdings, Llc sold 572,817 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $1.78, for a total value of $1,019,614.26. Following the transaction, the director now owns 143,713,297 shares in the company, valued at $255,809,668.66. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on BBAI shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $3.50 price objective on shares of BigBear.ai in a research note on Wednesday. HC Wainwright reissued a “buy” rating and issued a $3.00 target price on shares of BigBear.ai in a report on Wednesday.

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.