BigCommerce (NASDAQ:BIGC) Sees Unusually-High Trading Volume

BigCommerce Holdings, Inc. (NASDAQ:BIGC) saw strong trading volume on Wednesday . 1,162,264 shares changed hands during trading, an increase of 74% from the previous session’s volume of 667,832 shares.The stock last traded at $6.76 and had previously closed at $6.94.

Analysts Set New Price Targets

Several research analysts have recently weighed in on BIGC shares. Piper Sandler dropped their target price on shares of BigCommerce from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, February 23rd. Morgan Stanley cut their price target on shares of BigCommerce from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. Truist Financial decreased their price objective on shares of BigCommerce from $10.00 to $9.00 and set a “hold” rating for the company in a report on Friday, February 23rd. Bank of America reaffirmed an “underperform” rating and issued a $7.50 price target (down previously from $11.00) on shares of BigCommerce in a research report on Monday, March 25th. Finally, Needham & Company LLC reissued a “buy” rating and set a $20.00 price objective on shares of BigCommerce in a report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $10.25.

BigCommerce Price Performance

The stock has a market cap of $507.09 million, a price-to-earnings ratio of -7.63 and a beta of 0.84. The company has a debt-to-equity ratio of 13.30, a current ratio of 4.83 and a quick ratio of 4.83. The stock’s 50 day simple moving average is $6.72 and its two-hundred day simple moving average is $8.11.

Institutional Trading of BigCommerce

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BIGC. Swiss National Bank boosted its holdings in BigCommerce by 1.0% during the third quarter. Swiss National Bank now owns 139,300 shares of the company’s stock valued at $1,375,000 after purchasing an additional 1,400 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in BigCommerce by 2.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 102,469 shares of the company’s stock valued at $997,000 after buying an additional 2,308 shares in the last quarter. Corton Capital Inc. grew its position in BigCommerce by 16.2% in the third quarter. Corton Capital Inc. now owns 29,487 shares of the company’s stock valued at $291,000 after acquiring an additional 4,101 shares during the period. Deutsche Bank AG grew its position in BigCommerce by 3.9% in the third quarter. Deutsche Bank AG now owns 115,968 shares of the company’s stock valued at $1,145,000 after acquiring an additional 4,380 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in BigCommerce by 9.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 72,319 shares of the company’s stock worth $714,000 after acquiring an additional 6,072 shares in the last quarter. Institutional investors own 79.21% of the company’s stock.

BigCommerce Company Profile

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.