BigBear.ai (NYSE:BBAI) Issues Quarterly Earnings Results, Beats Estimates By $0.02 EPS

BigBear.ai (NYSE:BBAI) posted its quarterly earnings results on Thursday. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.02, Briefing.com reports. The firm had revenue of $39.78 million for the quarter, compared to analysts’ expectations of $46.55 million. During the same period in the prior year, the company earned ($0.12) earnings per share. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. BigBear.ai updated its FY 2024 guidance to EPS.

BigBear.ai Price Performance

BBAI traded down $0.06 on Friday, hitting $1.34. 4,151,137 shares of the company were exchanged, compared to its average volume of 2,979,085. The business’s fifty day moving average is $1.45 and its 200 day moving average is $1.80. The firm has a market capitalization of $329.75 million, a P/E ratio of -1.49 and a beta of 3.52. BigBear.ai has a fifty-two week low of $1.16 and a fifty-two week high of $4.80. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.98 and a current ratio of 1.98.

Analyst Upgrades and Downgrades

Separately, HC Wainwright lowered their target price on shares of BigBear.ai from $5.00 to $3.00 and set a “buy” rating on the stock in a research report on Friday.

Insider Activity

In other BigBear.ai news, Director Pamela Joyce Braden purchased 140,939 shares of the stock in a transaction dated Monday, June 3rd. The shares were acquired at an average cost of $1.49 per share, for a total transaction of $209,999.11. Following the completion of the transaction, the director now directly owns 446,396 shares of the company’s stock, valued at $665,130.04. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.40% of the company’s stock.

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.