BigBear.ai Holdings, Inc. Sees Significant Decline in Short Interest

BigBear.ai Holdings, Inc. (NYSE:BBAI) experienced a notable reduction in its short interest during the month of November. By the end of November, the total short interest stood at 17,520,000 shares, reflecting a decrease of 13.2% from the previous figure of 20,190,000 shares reported on November 15. This decline indicates that about 13.3% of the company's total shares are currently short sold. With an average daily trading volume of 11,470,000 shares, the days-to-cover ratio is now 1.5 days.

Recent Analyst Ratings and Price Targets

Several analysts have recently provided updates regarding the stock performance of BBAI. HC Wainwright has reiterated a 'buy' rating along with a price target of $3.00 per share as of November 6. Similarly, Cantor Fitzgerald has reaffirmed an 'overweight' rating, raising its target price for the stock to $3.50 in a research note issued on the same day.

Insider Transactions

In related news, Bbai Ultimate Holdings, LLC, a director of BigBear.ai, sold 572,817 shares on October 15 at an average price of $1.78. This transaction amounted to approximately $1,019,614.26. Following this sale, the director's holdings decreased by 0.40%, leaving them with 143,713,297 shares valued at around $255,809,668.66. Insider ownership currently accounts for 1.40% of the total stock.

Institutional Investment Activity

Institutional investors have also made adjustments to their holdings of BigBear.ai shares. Fortis Group Advisors LLC increased its stake by 26.9% during the second quarter, now owning 66,735 shares worth approximately $101,000 after adding 14,134 shares. Price T. Rowe Associates acquired a new investment in BigBear.ai valued at about $31,000 during the first quarter. Additionally, XTX Topco Ltd raised its stake by 57.9% in the third quarter, owning 61,011 shares worth $89,000 after increasing its holdings by 22,363 shares. The Manufacturers Life Insurance Company also grew its position by 135.0% in the second quarter, now holding 41,073 shares valued at $62,000 after purchasing an additional 23,597 shares. Sovereign Financial Group Inc. bought a new stake in BigBear.ai valued at roughly $36,000. Currently, institutional investors and hedge funds hold about 7.55% of the company's stock.

Stock Performance Overview

As of Tuesday, BigBear.ai's stock was trading at $2.99, experiencing an increase of 18.5%. The company has a debt-to-equity ratio of 2.08, a quick ratio of 2.06, and a current ratio of 2.06. Its 50-day moving average price is $2.05, while the 200-day moving average stands at $1.66. Over the past year, the stock has fluctuated between a low of $1.16 and a high of $4.80, with a market capitalization of $748 million, a PE ratio of -3.28, and a beta of 3.58.

BigBear.ai's most recent earnings report was released on November 5, showing a loss of ($0.05) per share, which was better than the expected loss of ($0.07). In terms of revenue, the company reported $41.51 million for the quarter, falling short of the consensus estimate of $45.04 million. BigBear.ai experienced a negative return on equity of 138.35% and a negative net margin of 109.90%. However, their revenue marked an increase of 22.1% compared to the same quarter last year, where they posted a gain of $0.03 EPS. Analysts project that BigBear.ai will report an EPS of -0.28 for the current fiscal year.

Company Overview

BigBear.ai Holdings, Inc. specializes in artificial intelligence-driven decision intelligence solutions. The company offers various services related to national security, supply chain management, digital identity, and biometrics. They also provide solutions in data ingestion, enrichment, processing, artificial intelligence, machine learning, predictive analytics, and visualization.

BigBear.ai, Stocks, ShortInterest