BigBear.ai (NYSE:BBAI) Stock Price Down 2.1% – Here’s Why

BigBear.ai Holdings, Inc. (NYSE:BBAI) was down 2.1% on Friday . The company traded as low as $3.81 and last traded at $3.88. Approximately 66,011,278 shares traded hands during mid-day trading, an increase of 68% from the average daily volume of 39,212,410 shares. The stock had previously closed at $3.96.

Analysts Set New Price Targets

A number of analysts recently weighed in on BBAI shares. HC Wainwright decreased their price objective on BigBear.ai from $7.00 to $6.00 and set a “buy” rating for the company in a report on Friday, March 7th. Cantor Fitzgerald cut their price target on shares of BigBear.ai from $8.00 to $6.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. Northland Securities cut shares of BigBear.ai from an “outperform” rating to a “market perform” rating and upped their price target for the company from $2.50 to $4.00 in a research report on Friday, March 7th. Finally, Northland Capmk cut shares of BigBear.ai from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 7th.

BigBear.ai Stock Up 0.9%

The firm has a market cap of $1.16 billion, a P/E ratio of -5.12 and a beta of 3.29. The stock’s 50-day simple moving average is $3.51 and its 200 day simple moving average is $4.02. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.55.

BigBear.ai (NYSE:BBAI) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.04). The company had revenue of $34.76 million for the quarter, compared to the consensus estimate of $36.26 million. BigBear.ai had a negative return on equity of 57.83% and a negative net margin of 121.31%. BigBear.ai’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the company earned ($0.67) EPS. As a group, research analysts forecast that BigBear.ai Holdings, Inc. will post -0.28 EPS for the current fiscal year.

Insider Activity at BigBear.ai

In other BigBear.ai news, CAO Sean Raymond Ricker sold 36,166 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $3.65, for a total value of $132,005.90. Following the completion of the sale, the chief accounting officer now owns 223,070 shares in the company, valued at approximately $814,205.50. This trade represents a 13.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Julie Peffer sold 45,924 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $3.48, for a total transaction of $159,815.52. Following the completion of the sale, the chief financial officer now owns 684,153 shares of the company’s stock, valued at approximately $2,380,852.44. This trade represents a 6.29% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 204,219 shares of company stock valued at $752,605. 1.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BBAI. Vontobel Holding Ltd. purchased a new position in BigBear.ai in the 4th quarter valued at approximately $238,000. Rhumbline Advisers boosted its holdings in BigBear.ai by 41.6% in the 4th quarter. Rhumbline Advisers now owns 111,825 shares of the company’s stock valued at $498,000 after purchasing an additional 32,829 shares during the period. Private Advisor Group LLC boosted its holdings in BigBear.ai by 107.0% in the 4th quarter. Private Advisor Group LLC now owns 30,008 shares of the company’s stock valued at $134,000 after purchasing an additional 15,508 shares during the period. Kovack Advisors Inc. bought a new position in BigBear.ai in the 4th quarter valued at $196,000. Finally, Oppenheimer & Co. Inc. bought a new position in BigBear.ai in the 4th quarter valued at $325,000. 7.55% of the stock is currently 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.