BigBear.ai (NYSE:BBAI) Shares Gap Down – Here’s Why

BigBear.ai Holdings, Inc. (NYSE:BBAI) gapped down prior to trading on Wednesday . The stock had previously closed at $2.95, but opened at $2.83. BigBear.ai shares last traded at $2.97, with a volume of 3,585,757 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. HC Wainwright lowered their target price on shares of BigBear.ai from $7.00 to $6.00 and set a “buy” rating for the company in a report on Friday, March 7th. Northland Securities lowered shares of BigBear.ai from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $2.50 to $4.00 in a report on Friday, March 7th. Cantor Fitzgerald reduced their target price on BigBear.ai from $8.00 to $6.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. Finally, Northland Capmk cut BigBear.ai from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 7th.

BigBear.ai Stock Performance

The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 2.08. The stock’s 50 day moving average price is $5.05 and its 200 day moving average price is $3.36. The company has a market capitalization of $865.58 million, a price-to-earnings ratio of -3.29 and a beta of 3.12.

Insider Activity at BigBear.ai

In other BigBear.ai news, Director Sean Bernard Battle sold 44,813 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $4.46, for a total transaction of $199,865.98. Following the sale, the director now directly 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Sean Raymond Ricker sold 36,166 shares of the company’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $3.65, for a total transaction of $132,005.90. Following the completion of the sale, the chief accounting officer now directly owns 223,070 shares in the company, valued at approximately $814,205.50. The trade was a 13.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 149,185 shares of company stock valued at $635,493. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On BigBear.ai

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Intech Investment Management LLC bought a new stake in shares of BigBear.ai during the third quarter worth about $61,000. State Street Corp lifted its holdings in 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 buying an additional 267,673 shares during the period. XTX Topco Ltd boosted its position in BigBear.ai by 57.9% during the third quarter. XTX Topco Ltd now owns 61,011 shares of the company’s stock valued at $89,000 after acquiring an additional 22,363 shares during the last quarter. Barclays PLC grew its holdings in BigBear.ai by 310.3% during the 3rd quarter. Barclays PLC now owns 141,766 shares of the company’s stock worth $208,000 after acquiring an additional 107,214 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of BigBear.ai by 28.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,158,438 shares of the company’s stock worth $3,152,000 after acquiring an additional 479,401 shares in the last quarter. 7.55% of the stock is currently owned by institutional investors.

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.