BigBear.ai (NYSE:BBAI) Sees Large Volume Increase Following Analyst Upgrade

Shares of BigBear.ai Holdings, Inc. (NYSE:BBAI) saw unusually-strong trading volume on Monday after HC Wainwright raised their price target on the stock from $3.00 to $7.00. HC Wainwright currently has a buy rating on the stock. Approximately 15,043,709 shares traded hands during mid-day trading, an increase of 38% from the previous session’s volume of 10,935,650 shares.The stock last traded at $4.19 and had previously closed at $4.21.

Separately, Cantor Fitzgerald reissued an “overweight” rating and set a $3.50 price objective on shares of BigBear.ai in a report on Wednesday, November 6th.

Insider Buying and Selling

In related news, 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 transaction of $1,019,614.26. Following the completion of the sale, the director now owns 143,713,297 shares in the company, valued at $255,809,668.66. This represents a 0.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Amanda Long sold 200,000 shares of BigBear.ai stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $4.25, for a total value of $850,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,583,254 shares in the company, valued at approximately $10,978,829.50. This represents a 7.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 782,892 shares of company stock valued at $1,887,246. Company insiders own 1.40% of the company’s stock.

Institutional Trading of BigBear.ai

Hedge funds have recently bought and sold shares of the stock. Sovereign Financial Group Inc. acquired a new position in shares of BigBear.ai in the third quarter valued at $36,000. XTX Topco Ltd acquired a new position in shares of BigBear.ai in the 2nd quarter valued at $58,000. The Manufacturers Life Insurance Company lifted its holdings in shares of BigBear.ai by 135.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 41,073 shares of the company’s stock worth $62,000 after acquiring an additional 23,597 shares during the period. Intech Investment Management LLC acquired a new stake in shares of BigBear.ai during the 3rd quarter valued at about $61,000. Finally, Koshinski Asset Management Inc. bought a new stake in BigBear.ai in the third quarter valued at about $131,000. 7.55% of the stock is owned by institutional investors.

BigBear.ai Price Performance

The stock has a market cap of $1.21 billion, a price-to-earnings ratio of -5.29 and a beta of 3.58. 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 company’s 50-day moving average is $2.38 and its 200-day moving average is $1.80.

BigBear.ai (NYSE:BBAI) last issued its earnings results on Tuesday, November 5th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $41.51 million during the quarter, compared to analysts’ expectations of $45.04 million. During the same period in the prior year, the firm posted $0.03 EPS. BigBear.ai’s quarterly revenue was up 22.1% compared to the same quarter last year. Equities research analysts expect that BigBear.ai Holdings, Inc. will post -0.28 earnings per share for the current fiscal year.

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.