BigBear.ai (NYSE:BBAI) Trading Up 16.9% – Time to Buy?

BigBear.ai Holdings, Inc. (NYSE:BBAI)’s stock price shot up 16.9% on Wednesday . The stock traded as high as $3.75 and last traded at $3.73. 49,682,012 shares were traded during mid-day trading, an increase of 382% from the average session volume of 10,299,381 shares. The stock had previously closed at $3.19.

Analyst Ratings Changes

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

BigBear.ai Trading Up 19.3 %

The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 2.08. The firm has a market cap of $1.12 billion, a PE ratio of -4.89 and a beta of 3.58. The business has a fifty day moving average price of $2.33 and a 200 day moving average price of $1.77.

BigBear.ai (NYSE:BBAI) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. The company had revenue of $41.51 million for 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 revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter last year, the company earned $0.03 earnings per share. Analysts forecast that BigBear.ai Holdings, Inc. will post -0.28 EPS for the current year.

Insider Activity at BigBear.ai

In related news, Director Bbai Ultimate Holdings, Llc sold 572,817 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $1.78, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Amanda Long sold 200,000 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 2,583,254 shares in the company, valued at $10,978,829.50. The trade was a 7.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 782,892 shares of company stock valued at $1,887,246 over the last ninety days. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On BigBear.ai

Hedge funds have recently made changes to their positions in the business. Sovereign Financial Group Inc. purchased a new stake in BigBear.ai during the 3rd quarter valued at approximately $36,000. XTX Topco Ltd purchased a new stake in shares of BigBear.ai during the second quarter worth approximately $58,000. Intech Investment Management LLC acquired a new stake in shares of BigBear.ai during the third quarter worth $61,000. The Manufacturers Life Insurance Company grew its position in BigBear.ai by 135.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 41,073 shares of the company’s stock valued at $62,000 after buying an additional 23,597 shares during the last quarter. Finally, Fortis Group Advisors LLC increased its stake in BigBear.ai by 26.9% in 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 period. Institutional investors and hedge funds 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.