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

BigBear.ai Holdings, Inc. (NYSE:BBAI) shot up 7.8% on Friday . The company traded as high as $3.59 and last traded at $3.53. 24,333,025 shares were traded during mid-day trading, an increase of 14% from the average session volume of 21,363,389 shares. The stock had previously closed at $3.27.

Wall Street Analyst Weigh In

BBAI has been the subject of a number of research analyst reports. Northland Securities cut BigBear.ai from an “outperform” rating to a “market perform” rating and increased their target price for the company from $2.50 to $4.00 in a report on Friday, March 7th. HC Wainwright reduced their target price on BigBear.ai from $7.00 to $6.00 and set a “buy” rating for the company in a report on Friday, March 7th. Northland Capmk lowered BigBear.ai from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 7th. Finally, Cantor Fitzgerald dropped their price target on BigBear.ai from $8.00 to $6.00 and set an “overweight” rating for the company in a research report on Friday, March 7th.

BigBear.ai Stock Up 6.9 %

The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 2.08. The business has a 50-day moving average price of $5.21 and a 200-day moving average price of $3.19. The firm has a market capitalization of $995.60 million, a PE ratio of -3.84 and a beta of 3.12.

Insider Buying and Selling

In other news, CEO Amanda Long sold 66,140 shares of the firm’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 transaction, the chief executive officer now directly owns 2,445,449 shares in the company, valued at $11,004,520.50. This trade represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Sean Bernard Battle sold 44,813 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $4.46, for a total value of $199,865.98. Following the transaction, the director now owns 137,838 shares of the company’s stock, valued at approximately $614,757.48. This represents a 24.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 310,953 shares of company stock worth $1,347,496. Company insiders own 1.40% of the company’s stock.

Institutional Trading of BigBear.ai

Hedge funds have recently modified their holdings of the stock. State Street Corp raised its stake in shares of BigBear.ai by 16.8% in the third 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 stake in shares of BigBear.ai by 28.6% in the third quarter. Geode Capital Management LLC now owns 2,158,438 shares of the company’s stock valued at $3,152,000 after acquiring an additional 479,401 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of BigBear.ai in the fourth quarter valued at $325,000. Barclays PLC raised its stake in shares of BigBear.ai by 310.3% in the third quarter. Barclays PLC now owns 141,766 shares of the company’s stock valued at $208,000 after acquiring an additional 107,214 shares in the last quarter. Finally, Sargent Investment Group LLC acquired a new stake in shares of BigBear.ai in the fourth quarter valued at $1,028,000. 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.