BigBear.ai (NYSE:BBAI) Stock Jumps 5% – Here’s What Happened

BigBear.ai Holdings, Inc. (NYSE:BBAI)’s stock price shot up 5% during trading on Tuesday. The company traded as high as $2.54 and last traded at $2.4140. 8,379,326 shares traded hands during trading, a decline of 77% from the average session volume of 37,144,340 shares. The stock had previously closed at $2.30.

Analysts Set New Price Targets

BBAI has been the subject of several research reports. Wall Street Zen cut shares of BigBear.ai from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BigBear.ai in a research note on Friday, July 17th. Finally, Cantor Fitzgerald reduced their target price on shares of BigBear.ai from $5.00 to $4.00 and set a “neutral” rating on the stock in a research report on Friday, July 31st. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, BigBear.ai presently has an average rating of “Hold” and an average price target of $5.00.

BigBear.ai Stock Performance

The firm has a fifty day simple moving average of $2.92 and a 200-day simple moving average of $3.44. The company has a current ratio of 5.67, a quick ratio of 5.67 and a debt-to-equity ratio of 0.01. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of -11.50 and a beta of 3.37.

BigBear.ai (NYSE:BBAI) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). The firm had revenue of $36.75 million for the quarter, compared to analyst estimates of $36.37 million. BigBear.ai had a negative return on equity of 13.44% and a negative net margin of 65.20%. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period last year, the company earned ($0.71) EPS. Analysts forecast that BigBear.ai Holdings, Inc. will post -0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On BigBear.ai

Several large investors have recently made changes to their positions in BBAI. Headlands Technologies LLC boosted its holdings in BigBear.ai by 351.8% in the second quarter. Headlands Technologies LLC now owns 512,339 shares of the company’s stock valued at $1,880,000 after acquiring an additional 398,936 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in BigBear.ai in the second quarter worth about $5,243,000. WINTON GROUP Ltd bought a new stake in BigBear.ai during the 2nd quarter worth about $1,362,000. First Trust Advisors LP raised its holdings in BigBear.ai by 18.1% during the 1st quarter. First Trust Advisors LP now owns 2,419,242 shares of the company’s stock worth $8,516,000 after purchasing an additional 369,981 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in BigBear.ai by 11.8% during the 1st quarter. Principal Financial Group Inc. now owns 22,698 shares of the company’s stock worth $80,000 after purchasing an additional 2,391 shares during the last quarter. Institutional investors and hedge funds own 7.55% of the company’s stock.

About BigBear.ai

BigBear.ai Holdings, Inc provides artificial intelligence, machine learning and data analytics solutions designed to help organizations make decisions in complex, data-intensive environments. The company’s capabilities include predictive analytics, computer vision, data integration, cloud-based systems and decision-support tools that help customers monitor conditions, identify risks, forecast outcomes and coordinate operations.

The company primarily serves the U.S. government, including defense, intelligence, national security, border security and transportation-related agencies.