BigBear.ai (NYSE:BBAI) Shares Down 4% After Earnings Miss

BigBear.ai Holdings, Inc. (NYSE:BBAI) was down 4% on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as $3.08 and last traded at $3.21. Approximately 35,373,898 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 56,214,105 shares. The stock had previously closed at $3.34.

The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.04). BigBear.ai had a negative net margin of 109.90% and a negative return on equity of 138.35%. The firm had revenue of $34.76 million during the quarter, compared to analyst estimates of $36.26 million. During the same quarter in the prior year, the business earned ($0.67) earnings per share. The business’s quarterly revenue was up 4.9% on a year-over-year basis.

Wall Street Analysts Forecast Growth

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

Insider Transactions at BigBear.ai

In other BigBear.ai news, CAO Sean Raymond Ricker sold 36,166 shares of BigBear.ai 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 sale, the chief accounting officer now owns 223,070 shares of the company’s stock, valued at approximately $814,205.50. The trade was a 13.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On BigBear.ai

Institutional investors have recently bought and sold shares of the company. Barclays PLC raised its stake in shares of BigBear.ai by 310.3% in the third 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 period. Geode Capital Management LLC raised its stake in 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 acquiring an additional 479,401 shares during the period. Sovereign Financial Group Inc. lifted its holdings in BigBear.ai by 699.3% during the fourth quarter. Sovereign Financial Group Inc. now owns 199,815 shares of the company’s stock valued at $889,000 after purchasing an additional 174,815 shares during the last quarter. Grove Bank & Trust boosted its position in BigBear.ai by 9,172.7% during the fourth quarter. Grove Bank & Trust now owns 102,000 shares of the company’s stock worth $454,000 after purchasing an additional 100,900 shares during the period. Finally, Simon Quick Advisors LLC purchased a new position in shares of BigBear.ai in the fourth quarter worth about $44,000. Hedge funds and other institutional investors own 7.55% of the company’s stock.

BigBear.ai Trading Up 0.9 %

The firm’s 50-day moving average price is $3.30 and its 200-day moving average price is $3.57. The company has a market cap of $973.95 million, a P/E ratio of -3.70 and a beta of 3.34. 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 Company Profile

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.