BigBear.ai (NYSE:BBAI) Trading Down 14.5% – Here’s What Happened

BigBear.ai Holdings, Inc. (NYSE:BBAI) shares fell 14.5% during mid-day trading on Tuesday . The company traded as low as $2.86 and last traded at $2.99. 27,246,868 shares were traded during mid-day trading, an increase of 27% from the average session volume of 21,454,347 shares. The stock had previously closed at $3.49.

Wall Street Analyst Weigh In

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

BigBear.ai Stock Down 12.2 %

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 firm has a market cap of $873.11 million, a PE ratio of -3.37 and a beta of 3.12. The business’s 50-day simple moving average is $5.16 and its 200 day simple moving average is $3.23.

Insider Transactions at BigBear.ai

In related news, Director Sean Bernard Battle sold 44,813 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $4.46, for a total value of $199,865.98. Following the sale, the director now owns 137,838 shares in the company, valued at $614,757.48. This represents a 24.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Amanda Long sold 66,140 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $4.50, for a total value of $297,630.00. Following the sale, the chief executive officer now directly owns 2,445,449 shares in the company, valued at $11,004,520.50. This represents a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 310,953 shares of company stock valued at $1,347,496. Corporate insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. AE Industrial Partners LP acquired a new stake in shares of BigBear.ai during the 4th quarter worth approximately $284,721,000. Vanguard Group Inc. grew its position in BigBear.ai by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 5,790,608 shares of the company’s stock valued at $25,768,000 after buying an additional 23,994 shares during the period. Geode Capital Management LLC increased its holdings in BigBear.ai by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 2,197,296 shares of the company’s stock valued at $9,780,000 after buying an additional 38,858 shares in the last quarter. State Street Corp raised its position in shares of BigBear.ai by 16.8% in the third quarter. State Street Corp now owns 1,864,815 shares of the company’s stock worth $2,723,000 after acquiring an additional 267,673 shares during the period. Finally, TFG Asset Management GP Ltd purchased a new stake in shares of BigBear.ai during the 4th quarter worth about $4,005,000. 7.55% of the stock is currently owned by hedge funds and other 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.