Stocks

BigBear.ai (NYSE:BBAI) Shares Gap Up – Here’s What Happened

Published December 25, 2024

On December 25, 2024, shares of BigBear.ai Holdings, Inc. (NYSE:BBAI) saw a notable increase before the trading session began. The stock had closed the previous trading day at $3.11 but opened at $3.20, indicating a positive sentiment among investors. As of the latest trade, shares were priced at $3.23, with a substantial trading volume of 15,323,596 shares.

Analysts Offer Perspectives

Various analysts have recently shared their opinions regarding BigBear.ai's stock. HC Wainwright maintained a "buy" rating for the stock, with a price target set at $3.00 in a report dated November 6. Similarly, Cantor Fitzgerald reaffirmed an "overweight" rating, suggesting a higher price target of $3.50 in their research findings from the same date.

Overview of BigBear.ai's Stock Performance

Currently, BigBear.ai holds a market capitalization of approximately $934.69 million. Key financial metrics include a current ratio and quick ratio both at 2.06, and a debt-to-equity ratio of 2.08. The company has a negative PE ratio of -4.10 and a beta of 3.58. Over the past 50 days, the stock has averaged at $2.24, while its average over the last 200 days was $1.74.

BigBear.ai recently announced its quarterly earnings on November 5, where it reported earnings of ($0.05) per share, outperforming analysts' expectations of ($0.07) by $0.02. The total revenue for the quarter was reported at $41.51 million, falling short of analysts’ projections of $45.04 million. Comparatively, the company's revenue grew by 22.1% year-over-year. In the previous year’s quarter, BigBear.ai had posted earnings of $0.03 per share. Analysts anticipate that the company will report earnings of -0.28 per share for the current financial year.

Insider Trading Activity

In recent insider trading news, Director Bbai Ultimate Holdings, LLC sold 572,817 shares on October 15 at an average price of $1.78, garnering a total of $1,019,614.26. Post-sale, the director retains ownership of 143,713,297 shares, valued at about $255.81 million. This transaction represents a slight decrease of 0.40% in their stake. Only 1.40% of BigBear.ai's stock is held by corporate insiders.

Institutional Trading Trends

Institutional investors have been active regarding BigBear.ai. During the third quarter, Barclays PLC significantly increased its position in the stock by 310.3%, now holding 141,766 shares valued at $208,000 after acquiring 107,214 additional shares. Geode Capital Management LLC also expanded its holdings by 28.6%, amassing a total of 2,158,438 shares worth $3,152,000. Furthermore, XTX Topco Ltd raised its holdings by 57.9%, while State Street Corp increased its ownership by 16.8%. Collectively, institutional investors and hedge funds own about 7.55% of BigBear.ai's shares.

About BigBear.ai

BigBear.ai Holdings, Inc. specializes in advanced decision intelligence solutions powered by artificial intelligence. Its offerings include services for national security, supply chain management, digital identity, and biometrics, alongside data processing and analytical solutions.