BigBear.ai (NYSE:BBAI) Shares Gap Up - Here's Why

BigBear.ai Holdings, Inc. (NYSE:BBAI - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $5.71, but opened at $6.96. BigBear.ai shares last traded at $6.2940, with a volume of 54,604,314 shares traded.

Wall Street Analysts Forecast Growth

• BigBear.ai Stock Is Range-Bound—Wall Street Isn’t Buying the Hype

A number of research firms have commented on BBAI. Weiss Ratings restated a "sell (d-)" rating on shares of BigBear.ai in a research report on Wednesday, October 8th. Cantor Fitzgerald restated an "overweight" rating and issued a $7.00 price objective on shares of BigBear.ai in a report on Tuesday. Finally, HC Wainwright reiterated a "buy" rating and issued a $8.00 price target on shares of BigBear.ai in a research report on Tuesday. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $6.33.

Get Our Latest Analysis on BigBear.ai

BigBear.ai Trading Up 7.5%

• MarketBeat Week in Review – 09/29 - 10/03

The company's 50 day simple moving average is $6.56 and its two-hundred day simple moving average is $5.72. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of -4.25 and a beta of 3.42. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.91 and a current ratio of 1.91.

BigBear.ai (NYSE:BBAI - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. BigBear.ai had a negative return on equity of 48.11% and a negative net margin of 269.28%.The business had revenue of $32.47 million during the quarter, compared to analyst estimates of $41.18 million. During the same period last year, the company earned ($0.06) earnings per share. BigBear.ai's quarterly revenue was down 18.3% compared to the same quarter last year. Research analysts expect that BigBear.ai Holdings, Inc. will post -0.28 EPS for the current fiscal year.

Insider Buying and Selling at BigBear.ai

• Is BigBear.ai the Next Palantir?

In related news, CFO Sean Raymond Ricker sold 11,978 shares of the company's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $5.35, for a total transaction of $64,082.30. Following the completion of the sale, the chief financial officer directly owned 296,345 shares of the company's stock, valued at approximately $1,585,445.75. This represents a 3.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.54% of the company's stock.

Institutional Investors Weigh In On BigBear.ai

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of BigBear.ai by 32.6% in the 3rd quarter. Vanguard Group Inc. now owns 27,604,836 shares of the company's stock worth $179,984,000 after acquiring an additional 6,790,890 shares during the period. Jump Financial LLC acquired a new position in shares of BigBear.ai in the 2nd quarter valued at $37,407,000. Geode Capital Management LLC boosted its position in shares of BigBear.ai by 125.2% during the 2nd quarter. Geode Capital Management LLC now owns 5,074,311 shares of the company's stock valued at $34,456,000 after acquiring an additional 2,820,698 shares in the last quarter. JPMorgan Chase & Co. increased its stake in BigBear.ai by 3,252.7% in the second quarter. JPMorgan Chase & Co. now owns 2,398,419 shares of the company's stock valued at $16,285,000 after acquiring an additional 2,326,883 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in BigBear.ai by 569.0% in the first quarter. Goldman Sachs Group Inc. now owns 2,340,713 shares of the company's stock worth $6,694,000 after purchasing an additional 1,990,822 shares in the last quarter. Institutional investors own 7.55% of the company's stock.

About BigBear.ai

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.

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