BigBear.ai (NYSE:BBAI) Stock Price Down 3.8% – Here’s What Happened

Shares of BigBear.ai Holdings, Inc. (NYSE:BBAI) dropped 3.8% on Thursday . The stock traded as low as $2.85 and last traded at $3.01. Approximately 14,467,909 shares were traded during mid-day trading, a decline of 36% from the average daily volume of 22,569,724 shares. The stock had previously closed at $3.13.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BBAI. HC Wainwright cut their target price on shares of BigBear.ai from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, March 7th. Northland Capmk cut shares of BigBear.ai from a “strong-buy” rating to a “hold” rating in a report on Friday, March 7th. Northland Securities lowered BigBear.ai from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $2.50 to $4.00 in a report on Friday, March 7th. Finally, Cantor Fitzgerald decreased their price objective 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 Price Performance

The company has a debt-to-equity ratio of 2.08, a quick ratio of 2.06 and a current ratio of 2.06. The stock has a market capitalization of $822.22 million, a PE ratio of -3.13 and a beta of 3.34. The company’s fifty day simple moving average is $4.97 and its two-hundred day simple moving average is $3.37.

Insiders Place Their Bets

In related news, CAO Sean Raymond Ricker sold 36,166 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $3.65, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amanda Long sold 66,140 shares of BigBear.ai stock in a transaction on Monday, January 6th. The shares were 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 owns 2,445,449 shares in the company, valued at approximately $11,004,520.50. This trade represents a 2.63 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 104,372 shares of company stock valued at $435,627. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On BigBear.ai

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cape Investment Advisory Inc. acquired a new stake in shares of BigBear.ai during the fourth quarter worth approximately $40,000. Simon Quick Advisors LLC acquired a new position in shares of BigBear.ai in the 4th quarter valued at about $44,000. Captrust Financial Advisors bought a new stake in shares of BigBear.ai during the 4th quarter valued at about $45,000. Retirement Income Solutions Inc acquired a new stake in BigBear.ai during the fourth quarter worth about $47,000. Finally, Bay Rivers Group acquired a new position in BigBear.ai in the fourth quarter valued at approximately $48,000. 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.