BigBear.ai (NYSE:BBAI) Sees Large Volume Increase – Here’s Why

Shares of BigBear.ai Holdings, Inc. (NYSE:BBAI) saw unusually-strong trading volume on Thursday . Approximately 44,175,387 shares changed hands during trading, a decline of 3% from the previous session’s volume of 45,505,387 shares.The stock last traded at $7.05 and had previously closed at $7.11.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. 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. HC Wainwright raised their target price 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.

BigBear.ai Price Performance

The business has a 50-day moving average of $3.87 and a 200 day moving average of $2.40. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 2.08.

BigBear.ai (NYSE:BBAI) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.05) EPS for the quarter, beating 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 firm had revenue of $41.51 million during the quarter, compared to analyst estimates of $45.04 million. During the same quarter in the prior year, the firm earned $0.03 EPS. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. As a group, research analysts anticipate that BigBear.ai Holdings, Inc. will post -0.28 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Amanda Long sold 66,140 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $4.50, for a total value 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 $11,004,520.50. This represents a 2.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Sean Bernard Battle sold 44,813 shares of BigBear.ai 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 transaction, the director now owns 137,838 shares in the company, valued at $614,757.48. This trade represents a 24.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 310,953 shares of company stock worth $1,347,496. Company insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its holdings 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 in the last quarter. State Street Corp raised its position 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 purchasing an additional 267,673 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in BigBear.ai by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 298,596 shares of the company’s stock worth $1,329,000 after buying an additional 8,879 shares during the period. Sargent Investment Group LLC purchased a new stake in BigBear.ai in the 4th quarter worth $1,028,000. Finally, Sovereign Financial Group Inc. raised its holdings in BigBear.ai by 699.3% during the fourth quarter. Sovereign Financial Group Inc. now owns 199,815 shares of the company’s stock valued at $889,000 after acquiring an additional 174,815 shares during the period. 7.55% of the stock is currently owned by institutional investors.

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.