BigBear.ai (NYSE:BBAI) Stock Price Down 12.9% – Here’s What Happened

Shares of BigBear.ai Holdings, Inc. (NYSE:BBAI) dropped 12.9% on Wednesday . The company traded as low as $3.44 and last traded at $3.45. Approximately 19,723,518 shares were traded during mid-day trading, a decline of 46% from the average daily volume of 36,786,004 shares. The stock had previously closed at $3.96.

Analyst Upgrades and Downgrades

BBAI has been the topic of a number of analyst reports. HC Wainwright increased their price objective on shares of BigBear.ai from $3.00 to $7.00 and gave the stock a “buy” rating in a report on Monday, December 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $3.50 price objective on shares of BigBear.ai in a report on Wednesday, November 6th.

BigBear.ai Stock Performance

The firm’s 50-day moving average price is $2.82 and its two-hundred day moving average price is $1.97. The firm has a market capitalization of $816.91 million, a PE ratio of -3.58 and a beta of 3.21. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 2.08.

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

Insider Activity

In related news, CEO Amanda Long sold 200,000 shares of the stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $4.25, for a total transaction of $850,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,583,254 shares of the company’s stock, valued at approximately $10,978,829.50. This represents a 7.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bbai Ultimate Holdings, Llc sold 572,817 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $1.78, for a total value of $1,019,614.26. Following the sale, the director now directly owns 143,713,297 shares of the company’s stock, valued at approximately $255,809,668.66. The trade was a 0.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 849,032 shares of company stock worth $2,184,876. Corporate insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On BigBear.ai

Several hedge funds have recently made changes to their positions in BBAI. Bank of Montreal Can boosted its holdings in shares of BigBear.ai by 6,435.7% in the 2nd quarter. Bank of Montreal Can now owns 653,570 shares of the company’s stock valued at $1,006,000 after buying an additional 643,570 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of BigBear.ai by 28.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,158,438 shares of the company’s stock valued at $3,152,000 after buying an additional 479,401 shares during the last quarter. State Street Corp boosted its holdings in shares of BigBear.ai by 16.8% in the 3rd quarter. State Street Corp now owns 1,864,815 shares of the company’s stock valued at $2,723,000 after buying an additional 267,673 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of BigBear.ai by 160.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 307,692 shares of the company’s stock valued at $465,000 after buying an additional 189,593 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of BigBear.ai by 310.3% in the 3rd quarter. Barclays PLC now owns 141,766 shares of the company’s stock valued at $208,000 after buying an additional 107,214 shares during the last quarter. 7.55% of the stock is owned by 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.