BigBear.ai (NYSE:BBAI) Sees Unusually-High Trading Volume – Here’s Why

BigBear.ai Holdings, Inc. (NYSE:BBAI) saw strong trading volume on Tuesday . 11,779,251 shares traded hands during trading, an increase of 16% from the previous session’s volume of 10,133,318 shares.The stock last traded at $3.35 and had previously closed at $3.19.

Wall Street Analysts Forecast Growth

BBAI has been the topic of a number of research analyst reports. HC Wainwright reiterated a “buy” rating and set a $3.00 target price on shares of BigBear.ai in a research report on Wednesday, November 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $3.50 price target on shares of BigBear.ai in a research report on Wednesday, November 6th.

BigBear.ai Trading Up 16.9 %

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 fifty day moving average price is $2.28 and its two-hundred day moving average price is $1.75. The firm has a market cap of $934.69 million, a PE ratio of -4.10 and a beta of 3.58.

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

Insider Buying and Selling at BigBear.ai

In other BigBear.ai news, Director Bbai Ultimate Holdings, Llc sold 572,817 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 143,713,297 shares in the company, valued at approximately $255,809,668.66. This represents a 0.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BigBear.ai

Institutional investors have recently modified their holdings of the company. Sovereign Financial Group Inc. purchased a new stake in BigBear.ai during the third quarter worth $36,000. XTX Topco Ltd acquired a new position in BigBear.ai during the second quarter worth about $58,000. Intech Investment Management LLC purchased a new stake in shares of BigBear.ai in the third quarter valued at about $61,000. The Manufacturers Life Insurance Company grew its position 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 valued at $62,000 after purchasing an additional 23,597 shares during the last quarter. Finally, Fortis Group Advisors LLC grew its holdings in BigBear.ai by 26.9% during the 2nd quarter. Fortis Group Advisors LLC now owns 66,735 shares of the company’s stock valued at $101,000 after buying an additional 14,134 shares during the last quarter. Hedge funds and other institutional investors own 7.55% of the company’s stock.

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.