BigCommerce Holdings, Inc. (NASDAQ:BIGC) Short Interest Update

BigCommerce Holdings, Inc. (NASDAQ:BIGC) was the recipient of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 8,610,000 shares, a growth of 5.9% from the October 15th total of 8,130,000 shares. Based on an average daily trading volume, of 994,000 shares, the short-interest ratio is presently 8.7 days. Approximately 13.7% of the company’s stock are short sold.

BigCommerce Price Performance

BIGC opened at $5.97 on Tuesday. The stock’s 50 day moving average price is $5.77 and its 200 day moving average price is $6.73. The company has a debt-to-equity ratio of 7.48, a quick ratio of 2.81 and a current ratio of 2.81. BigCommerce has a 12 month low of $5.13 and a 12 month high of $10.19.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BIGC shares. Bank of America lowered their target price on shares of BigCommerce from $8.00 to $6.00 and set an “underperform” rating for the company in a report on Thursday, August 29th. Barclays decreased their price objective on shares of BigCommerce from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. Stifel Nicolaus dropped their price objective on BigCommerce from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $14.00 target price on shares of BigCommerce in a report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, BigCommerce presently has a consensus rating of “Hold” and a consensus target price of $8.81.

Institutional Investors Weigh In On BigCommerce

Hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC boosted its holdings in shares of BigCommerce by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,600,219 shares of the company’s stock worth $9,363,000 after purchasing an additional 21,105 shares during the period. Barclays PLC boosted its stake in shares of BigCommerce by 154.9% during the 3rd quarter. Barclays PLC now owns 116,667 shares of the company’s stock valued at $682,000 after buying an additional 70,902 shares during the period. Jane Street Group LLC grew its holdings in shares of BigCommerce by 88.2% during the 3rd quarter. Jane Street Group LLC now owns 206,265 shares of the company’s stock valued at $1,207,000 after acquiring an additional 96,667 shares in the last quarter. State Street Corp increased its stake in shares of BigCommerce by 1.1% in the third quarter. State Street Corp now owns 1,522,002 shares of the company’s stock worth $8,904,000 after acquiring an additional 16,561 shares during the last quarter. Finally, Quantinno Capital Management LP purchased a new stake in shares of BigCommerce during the third quarter worth $105,000. 79.21% of the stock is owned by hedge funds and other institutional investors.

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.