BigBear.ai (NYSE:BBAI) Trading Up 12.6% – Here’s Why

BigBear.ai Holdings, Inc. (NYSE:BBAI)’s stock price shot up 12.6% on Monday . The stock traded as high as $3.22 and last traded at $3.35. 13,261,327 shares changed hands during trading, a decline of 39% from the average session volume of 21,688,463 shares. The stock had previously closed at $2.97.

Analysts Set New Price Targets

BBAI has been the topic of several recent research reports. Northland Capmk cut shares of BigBear.ai from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 7th. Cantor Fitzgerald decreased their price target on shares of BigBear.ai from $8.00 to $6.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. HC Wainwright dropped their price target on BigBear.ai from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, March 7th. Finally, Northland Securities lowered BigBear.ai from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $2.50 to $4.00 in a research note on Friday, March 7th.

BigBear.ai Stock Performance

The firm’s 50-day moving average price is $5.12 and its two-hundred day moving average price is $3.28. 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 firm has a market capitalization of $960.00 million, a PE ratio of -3.70 and a beta of 3.12.

Insiders Place Their Bets

In other BigBear.ai news, Director Sean Bernard Battle sold 44,813 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $4.46, for a total transaction of $199,865.98. Following the completion of the sale, the director now directly owns 137,838 shares in the company, valued at approximately $614,757.48. This trade represents a 24.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Amanda Long sold 66,140 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $4.50, for a total value of $297,630.00. Following the completion of the transaction, the chief executive officer now owns 2,445,449 shares in the company, valued at $11,004,520.50. This represents a 2.63 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 310,953 shares of company stock worth $1,347,496. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On BigBear.ai

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BBAI. State Street Corp grew its holdings in shares of 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 boosted its position in BigBear.ai by 28.6% during the third quarter. Geode Capital Management LLC now owns 2,158,438 shares of the company’s stock valued at $3,152,000 after purchasing an additional 479,401 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in BigBear.ai in the fourth quarter valued at about $325,000. Barclays PLC increased its position in BigBear.ai by 310.3% in the 3rd quarter. Barclays PLC now owns 141,766 shares of the company’s stock worth $208,000 after purchasing an additional 107,214 shares during the last quarter. Finally, Sargent Investment Group LLC purchased a new stake in shares of BigBear.ai during the 4th quarter worth about $1,028,000. Hedge funds and other institutional investors own 7.55% 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.