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

Shares of BigBear.ai Holdings, Inc. (NYSE:BBAI) gapped down prior to trading on Wednesday . The stock had previously closed at $3.96, but opened at $3.72. BigBear.ai shares last traded at $3.58, with a volume of 8,609,210 shares.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. HC Wainwright raised 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 target on shares of BigBear.ai in a report on Wednesday, November 6th.

BigBear.ai Stock Performance

The stock has a market cap of $816.91 million, a PE ratio of -3.58 and a beta of 3.21. The business’s fifty day moving average price is $2.82 and its 200-day moving average price is $1.97. The company has a debt-to-equity ratio of 2.08, a quick ratio of 2.06 and a current ratio of 2.06.

BigBear.ai (NYSE:BBAI) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.02. BigBear.ai had a negative return on equity of 138.35% and a negative net margin of 109.90%. The firm had revenue of $41.51 million for the quarter, compared to analysts’ expectations of $45.04 million. During the same period in the prior year, the firm earned $0.03 EPS. The company’s revenue was up 22.1% compared to the same quarter last year. As a group, equities research analysts forecast that BigBear.ai Holdings, Inc. will post -0.28 EPS for the current fiscal year.

Insider Buying and Selling at BigBear.ai

In other 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 transaction of $1,019,614.26. Following the completion of the sale, the director now owns 143,713,297 shares of the company’s stock, valued at $255,809,668.66. The trade was a 0.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Amanda Long sold 66,140 shares of the firm’s stock in a transaction on 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 directly owns 2,445,449 shares in the company, valued at approximately $11,004,520.50. This represents a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 849,032 shares of company stock worth $2,184,876 in the last three months. 1.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BBAI. XTX Topco Ltd increased its holdings in BigBear.ai by 57.9% in the 3rd quarter. XTX Topco Ltd now owns 61,011 shares of the company’s stock worth $89,000 after acquiring an additional 22,363 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of BigBear.ai by 135.0% in the second 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. Sovereign Financial Group Inc. purchased a new stake in shares of BigBear.ai in the third quarter worth $36,000. Intech Investment Management LLC bought a new stake in shares of BigBear.ai during the 3rd quarter valued at $61,000. Finally, Rhumbline Advisers lifted its stake in shares of BigBear.ai by 206.2% during the 2nd quarter. Rhumbline Advisers now owns 101,963 shares of the company’s stock valued at $154,000 after buying an additional 68,663 shares in the last quarter. 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.