Short Interest in BigCommerce Holdings, Inc. (NASDAQ:BIGC) Increases By 5.9%

BigCommerce Holdings, Inc. (NASDAQ:BIGC) was the target of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 8,610,000 shares, an increase of 5.9% from the October 15th total of 8,130,000 shares. Approximately 13.7% of the shares of the company are short sold. Based on an average daily volume of 994,000 shares, the short-interest ratio is currently 8.7 days.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BIGC. Stifel Nicolaus lowered their price objective on shares of BigCommerce from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Barclays reduced their price target on BigCommerce from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. Bank of America cut their price objective on BigCommerce from $8.00 to $6.00 and set an “underperform” rating for the company in a report on Thursday, August 29th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $14.00 price target on shares of BigCommerce in a report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $8.81.

BigCommerce Price Performance

NASDAQ:BIGC opened at $5.97 on Tuesday. BigCommerce has a 52 week low of $5.13 and a 52 week high of $10.19. The company has a quick ratio of 2.81, a current ratio of 2.81 and a debt-to-equity ratio of 7.48. The firm’s 50-day simple moving average is $5.77 and its 200 day simple moving average is $6.73.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BIGC. Vanguard Group Inc. grew its position in BigCommerce by 5.9% during the first quarter. Vanguard Group Inc. now owns 10,278,252 shares of the company’s stock worth $70,817,000 after buying an additional 572,396 shares in the last quarter. Divisar Capital Management LLC acquired a new stake in shares of BigCommerce during the 2nd quarter worth $4,274,000. Clearline Capital LP increased its position in shares of BigCommerce by 27.3% in the second quarter. Clearline Capital LP now owns 949,931 shares of the company’s stock worth $7,656,000 after purchasing an additional 203,785 shares during the period. Algert Global LLC raised its stake in BigCommerce by 89.4% in the second quarter. Algert Global LLC now owns 267,850 shares of the company’s stock valued at $2,159,000 after purchasing an additional 126,443 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in BigCommerce in the first quarter valued at about $104,000. 79.21% of the stock is owned by institutional investors.

BigCommerce Company Profile

BigCommerce Holdings, Inc operates a software-as-a-service platform for enterprises, small businesses, and mid-markets in the United States, North and South America, Europe, the Middle East, Africa, and the AsiaPacific. The company provides a platform for launching and scaling an ecommerce operation, including store design, catalog management, hosting, checkout, order management, reporting, and pre-integration into third-party services.