BigCommerce (NASDAQ:BIGC) Shares Gap Up – Here’s What Happened

Shares of BigCommerce Holdings, Inc. (NASDAQ:BIGC) gapped up prior to trading on Thursday . The stock had previously closed at $6.69, but opened at $7.08. BigCommerce shares last traded at $6.81, with a volume of 489,774 shares trading hands.

Analyst Ratings Changes

Several analysts recently commented on BIGC shares. Barclays lowered shares of BigCommerce from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $8.00 to $7.00 in a research report on Friday, January 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price target on shares of BigCommerce in a research note on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, BigCommerce currently has an average rating of “Hold” and a consensus price target of $8.14.

BigCommerce Stock Performance

The stock has a fifty day moving average of $6.43 and a 200-day moving average of $6.18. The company has a quick ratio of 2.81, a current ratio of 2.81 and a debt-to-equity ratio of 7.48. The stock has a market capitalization of $520.05 million, a PE ratio of -18.51 and a beta of 1.18.

BigCommerce (NASDAQ:BIGC) last released its earnings results on Thursday, February 20th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). BigCommerce had a negative return on equity of 58.18% and a negative net margin of 8.43%. Equities analysts anticipate that BigCommerce Holdings, Inc. will post -0.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BigCommerce

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BIGC. Franklin Resources Inc. grew its holdings in shares of BigCommerce by 1.8% during the third quarter. Franklin Resources Inc. now owns 1,932,149 shares of the company’s stock worth $10,859,000 after purchasing an additional 35,016 shares during the last quarter. Divisar Capital Management LLC grew its position in BigCommerce by 48.5% during the 4th quarter. Divisar Capital Management LLC now owns 1,872,031 shares of the company’s stock worth $11,457,000 after purchasing an additional 611,811 shares during the last quarter. Clearline Capital LP increased its stake in BigCommerce by 69.7% in the third quarter. Clearline Capital LP now owns 1,611,619 shares of the company’s stock valued at $9,428,000 after purchasing an additional 661,688 shares during the period. Geode Capital Management LLC raised its holdings in shares of BigCommerce by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,600,219 shares of the company’s stock valued at $9,363,000 after buying an additional 21,105 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of BigCommerce by 1.1% during the third quarter. State Street Corp now owns 1,522,002 shares of the company’s stock worth $8,904,000 after buying an additional 16,561 shares during the period. 79.21% of the stock is owned by institutional investors and hedge funds.

About BigCommerce

BigCommerce Holdings, Inc operates a software-as-a-service platform for enterprises, small businesses, and mid-markets in the United States, North and South America, Europe, the Middle East, Africa, and the AsiaPacific. The company provides a platform for launching and scaling an ecommerce operation, including store design, catalog management, hosting, checkout, order management, reporting, and pre-integration into third-party services.