BigBear.ai (NYSE:BBAI) Shares Gap Down – Here’s What Happened

BigBear.ai Holdings, Inc. (NYSE:BBAI)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $7.87, but opened at $7.31. BigBear.ai shares last traded at $7.03, with a volume of 23,589,318 shares changing hands.

Analysts Set New Price Targets

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

BigBear.ai Stock Performance

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 stock’s 50-day moving average price is $4.82 and its 200-day moving average price is $2.81. The company has a market capitalization of $1.77 billion, a P/E ratio of -7.77 and a beta of 3.17.

Insiders Place Their Bets

In other BigBear.ai news, CEO Amanda Long sold 200,000 shares of the stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $4.25, for a total value of $850,000.00. Following the sale, the chief executive officer now directly owns 2,583,254 shares of the company’s stock, valued at $10,978,829.50. This trade represents a 7.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sean Bernard Battle sold 44,813 shares of the firm’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 completion of the sale, the director now owns 137,838 shares in the company, valued at $614,757.48. The trade was a 24.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 310,953 shares of company stock valued at $1,347,496 over the last quarter. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On BigBear.ai

Several hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp raised its stake in BigBear.ai by 16.8% during the 3rd quarter. State Street Corp now owns 1,864,815 shares of the company’s stock valued at $2,723,000 after acquiring an additional 267,673 shares in the last quarter. Geode Capital Management LLC raised its position in shares of BigBear.ai by 28.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,158,438 shares of the company’s stock worth $3,152,000 after buying an additional 479,401 shares in the last quarter. Barclays PLC raised its holdings in BigBear.ai by 310.3% during the third quarter. Barclays PLC now owns 141,766 shares of the company’s stock worth $208,000 after purchasing an additional 107,214 shares in the last quarter. Sargent Investment Group LLC acquired a new stake in BigBear.ai in the fourth quarter worth approximately $1,028,000. Finally, Grove Bank & Trust boosted its stake in BigBear.ai by 9,172.7% during the 4th quarter. Grove Bank & Trust now owns 102,000 shares of the company’s stock valued at $454,000 after purchasing an additional 100,900 shares in the last quarter. 7.55% of the stock is currently owned by institutional investors and hedge funds.

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.