BigBear.ai (NYSE:BBAI) Shares Down 7.8% – Here’s Why

BigBear.ai Holdings, Inc. (NYSE:BBAI) traded down 7.8% on Monday . The company traded as low as $8.56 and last traded at $9.02. 83,917,614 shares changed hands during trading, an increase of 67% from the average session volume of 50,240,612 shares. The stock had previously closed at $9.78.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. HC Wainwright boosted their target price on shares of BigBear.ai from $3.00 to $7.00 and gave the stock a “buy” rating in a research note on Monday, December 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $3.50 target price on shares of BigBear.ai in a research note on Wednesday, November 6th.

BigBear.ai Trading Down 6.5 %

The business’s 50 day simple moving average is $4.72 and its two-hundred day simple moving average is $2.78. The stock has a market cap of $1.98 billion, a P/E ratio of -8.65 and a beta of 3.17. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 2.08.

Insider Buying and Selling

In related news, Director Sean Bernard Battle sold 44,813 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $4.46, for a total value of $199,865.98. Following the sale, the director now owns 137,838 shares of the company’s stock, valued at $614,757.48. The trade was a 24.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Amanda Long sold 66,140 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $4.50, for a total transaction of $297,630.00. Following the completion of the sale, the chief executive officer now directly owns 2,445,449 shares in the company, valued at approximately $11,004,520.50. This represents a 2.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 310,953 shares of company stock valued at $1,347,496 over the last 90 days. 1.40% of the stock is owned by insiders.

Institutional Trading of BigBear.ai

Several institutional investors have recently modified their holdings of BBAI. Soviero Asset Management LP acquired a new position in BigBear.ai in the fourth quarter valued at $3,248,000. Two Sigma Investments LP acquired a new position in BigBear.ai in the fourth quarter valued at $70,000. TFG Asset Management GP Ltd acquired a new position in BigBear.ai in the fourth quarter valued at $4,005,000. ProShare Advisors LLC lifted its holdings in BigBear.ai by 51.5% in the fourth quarter. ProShare Advisors LLC now owns 29,077 shares of the company’s stock valued at $129,000 after buying an additional 9,879 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in BigBear.ai by 21.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 296,565 shares of the company’s stock valued at $1,320,000 after buying an additional 51,377 shares during the period. 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.