BigBear.ai (NYSE:BBAI) Trading Down 2.8%

BigBear.ai Holdings, Inc. (NYSE:BBAI) dropped 2.8% on Tuesday . The stock traded as low as $2.09 and last traded at $2.11. Approximately 4,233,693 shares traded hands during trading, a decline of 65% from the average daily volume of 11,996,307 shares. The stock had previously closed at $2.17.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $3.00 price objective on shares of BigBear.ai in a report on Monday, March 4th.

BigBear.ai Stock Up 2.9 %

The firm has a 50 day moving average price of $2.27 and a 200-day moving average price of $1.87.

BigBear.ai (NYSE:BBAI) last announced its earnings results on Thursday, March 7th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.07). The firm had revenue of $40.56 million for the quarter, compared to analyst estimates of $42.75 million. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.23) earnings per share. On average, sell-side analysts predict that BigBear.ai Holdings, Inc. will post -0.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Dorothy D. Hayes sold 12,000 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $2.43, for a total value of $29,160.00. Following the transaction, the director now directly owns 209,401 shares in the company, valued at $508,844.43. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other BigBear.ai news, Director Bbai Ultimate Holdings, Llc sold 5,557,343 shares of BigBear.ai stock in a transaction on Friday, March 8th. The stock was sold at an average price of $2.69, for a total transaction of $14,949,252.67. Following the completion of the sale, the director now directly owns 159,186,896 shares of the company’s stock, valued at approximately $428,212,750.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Dorothy D. Hayes sold 12,000 shares of BigBear.ai stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $2.43, for a total value of $29,160.00. Following the completion of the sale, the director now owns 209,401 shares of the company’s stock, valued at $508,844.43. The disclosure for this sale can be found here. Insiders sold a total of 5,802,170 shares of company stock valued at $15,560,936 over the last 90 days. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On BigBear.ai

Several institutional investors have recently bought and sold shares of the business. Bank of America Corp DE acquired a new stake in shares of BigBear.ai in the 1st quarter worth $5,390,000. BlackRock Inc. acquired a new stake in BigBear.ai in the second quarter worth about $4,858,000. Vanguard Group Inc. grew its stake in shares of BigBear.ai by 129.3% during the third quarter. Vanguard Group Inc. now owns 1,901,954 shares of the company’s stock worth $2,872,000 after acquiring an additional 1,072,487 shares during the last quarter. Raymond James & Associates increased its holdings in shares of BigBear.ai by 130.4% during the third quarter. Raymond James & Associates now owns 748,949 shares of the company’s stock valued at $1,131,000 after acquiring an additional 423,893 shares in the last quarter. Finally, State Street Corp purchased a new position in shares of BigBear.ai in the 2nd quarter valued at approximately $1,098,000. 7.55% of the stock is owned by hedge funds and other institutional investors.

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.