BigBear.ai (NYSE:BBAI) Shares Up 10.9% – Still a Buy?

BigBear.ai Holdings, Inc. (NYSE:BBAI) shares shot up 10.9% during mid-day trading on Thursday . The stock traded as high as $3.95 and last traded at $3.76. 29,205,881 shares were traded during trading, a decline of 13% from the average session volume of 33,596,965 shares. The stock had previously closed at $3.39.

Wall Street Analysts Forecast Growth

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

BigBear.ai Stock Up 19.6 %

The stock has a market cap of $1.02 billion, a PE ratio of -4.46 and a beta of 3.21. The business has a 50 day simple moving average of $2.95 and a 200 day simple moving average of $2.02. The company has a debt-to-equity ratio of 2.08, a current ratio of 2.06 and a quick ratio of 2.06.

BigBear.ai (NYSE:BBAI) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $41.51 million during the quarter, compared to the consensus estimate of $45.04 million. During the same period in the prior year, the firm earned $0.03 EPS. BigBear.ai’s quarterly revenue was up 22.1% compared to the same quarter last year. On average, equities research analysts forecast that BigBear.ai Holdings, Inc. will post -0.28 EPS for the current fiscal year.

Insider Activity at BigBear.ai

In other news, CEO Amanda Long sold 200,000 shares of the stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $4.25, for a total value of $850,000.00. Following the completion of the transaction, the chief executive officer now owns 2,583,254 shares in the company, valued at approximately $10,978,829.50. This represents a 7.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BBAI. XTX Topco Ltd raised its holdings in shares of BigBear.ai by 57.9% in the 3rd quarter. XTX Topco Ltd now owns 61,011 shares of the company’s stock worth $89,000 after buying an additional 22,363 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of 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 purchasing an additional 23,597 shares in the last quarter. Sovereign Financial Group Inc. bought a new position in BigBear.ai during the 3rd quarter valued at about $36,000. Intech Investment Management LLC acquired a new position in BigBear.ai during the 3rd quarter worth $61,000. Finally, Rhumbline Advisers lifted its stake in shares of BigBear.ai by 206.2% in the 2nd quarter. Rhumbline Advisers now owns 101,963 shares of the company’s stock valued at $154,000 after purchasing an additional 68,663 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.