BigBear.ai (NYSE:BBAI) Shares Down 8% – Here’s What Happened

BigBear.ai Holdings, Inc. (NYSE:BBAI) shares traded down 8% during mid-day trading on Friday. The company traded as low as $1.90 and last traded at $1.9050. Approximately 16,712,900 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 35,517,504 shares. The stock had previously closed at $2.07.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on BBAI shares. Citigroup reissued a “market perform” rating on shares of BigBear.ai in a research report on Wednesday, October 28th. Wall Street Zen cut shares of BigBear.ai from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Cantor Fitzgerald reduced their target price on shares of BigBear.ai from $4.00 to $3.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 28th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of BigBear.ai in a report on Thursday, October 15th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, BigBear.ai currently has an average rating of “Hold” and an average target price of $4.50.

BigBear.ai Trading Down 8.0%

The company has a 50 day moving average price of $2.54 and a 200 day moving average price of $3.47. The firm has a market cap of $917.05 million, a price-to-earnings ratio of -5.15 and a beta of 3.37. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.92 and a current ratio of 4.92.

BigBear.ai (NYSE:BBAI) last issued its quarterly earnings data on Tuesday, October 27th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.13). BigBear.ai had a negative net margin of 126.84% and a negative return on equity of 15.17%. The company had revenue of $43.58 million during the quarter, compared to analysts’ expectations of $29.93 million. During the same quarter last year, the firm posted ($0.03) earnings per share. The firm’s quarterly revenue was up 31.5% on a year-over-year basis. On average, research analysts expect that BigBear.ai Holdings, Inc. will post -0.36 earnings per share for the current year.

Institutional Trading of BigBear.ai

Several institutional investors have recently added to or reduced their stakes in BBAI. First Trust Advisors LP boosted its position in shares of BigBear.ai by 77.9% during the third quarter. First Trust Advisors LP now owns 3,855,876 shares of the company’s stock worth $10,218,000 after buying an additional 1,688,617 shares during the period. HighTower Advisors LLC raised its holdings in shares of BigBear.ai by 105.8% in the 3rd quarter. HighTower Advisors LLC now owns 37,981 shares of the company’s stock valued at $101,000 after buying an additional 19,528 shares during the period. Fulcrum Asset Management LLP purchased a new stake in shares of BigBear.ai in the 3rd quarter valued at $1,556,000. J. Derek Lewis & Associates Inc. acquired a new position in BigBear.ai during the 3rd quarter worth about $27,000. Finally, Park Avenue Securities LLC acquired a new position in BigBear.ai during the 3rd quarter worth about $34,000. Institutional investors and hedge funds own 7.55% of the company’s stock.

About BigBear.ai

BigBear.ai Holdings, Inc. provides artificial intelligence and decision-intelligence solutions that help organizations analyze data and support complex operational decisions. Its services include data integration, predictive analytics, machine learning and computer vision, with applications in areas such as national security, defense, supply chain management and travel security. The company serves U.S. government customers as well as commercial organizations. Its offerings are designed to help customers combine information from multiple sources, identify patterns and improve planning and operational awareness.