BigBear.ai (NYSE:BBAI) Posts Earnings Results, Misses Estimates By $0.07 EPS

BigBear.ai (NYSE:BBAI) posted its quarterly earnings results on Thursday. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.07), Briefing.com reports. The company had revenue of $40.56 million during the quarter, compared to analyst estimates of $42.75 million. During the same quarter in the previous year, the business posted ($0.23) EPS. The company’s revenue for the quarter was up .5% compared to the same quarter last year. BigBear.ai updated its FY 2024 guidance to EPS.

BigBear.ai Stock Performance

Shares of BigBear.ai stock traded down $1.19 during midday trading on Friday, hitting $2.57. 39,702,230 shares of the company traded hands, compared to its average volume of 18,485,810. BigBear.ai has a 12 month low of $1.16 and a 12 month high of $4.80. The stock has a market cap of $403.03 million, a price-to-earnings ratio of -6.13 and a beta of 3.86. The firm’s fifty day moving average price is $2.20 and its 200-day moving average price is $1.81.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald reissued an “overweight” rating and issued a $3.00 target price on shares of BigBear.ai in a research report on Monday, March 4th.

Insiders Place Their Bets

In other news, Director Raluca Dinu sold 13,029 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $1.92, for a total value of $25,015.68. Following the sale, the director now directly owns 773,374 shares of the company’s stock, valued at approximately $1,484,878.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other BigBear.ai news, Director Avi S. Katz sold 50,000 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $1.81, for a total transaction of $90,500.00. Following the transaction, the director now owns 786,403 shares in the company, valued at $1,423,389.43. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Raluca Dinu sold 13,029 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $1.92, for a total transaction of $25,015.68. Following the completion of the sale, the director now owns 773,374 shares of the company’s stock, valued at approximately $1,484,878.08. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On BigBear.ai

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE bought a new position in BigBear.ai during the first quarter worth about $5,390,000. BlackRock Inc. purchased a new stake in shares of BigBear.ai in the second quarter worth about $4,858,000. Vanguard Group Inc. lifted its holdings in shares of BigBear.ai by 129.3% in the third quarter. Vanguard Group Inc. now owns 1,901,954 shares of the company’s stock worth $2,872,000 after buying an additional 1,072,487 shares in the last quarter. State Street Corp purchased a new stake in shares of BigBear.ai in the second quarter worth about $1,098,000. Finally, Invesco Ltd. purchased a new stake in shares of BigBear.ai in the first quarter worth about $2,953,000. Institutional investors own 1.47% of the company’s stock.

BigBear.ai Company Profile

BigBear.ai Holdings, Inc provides artificial intelligence and machine learning for decision support. The company operates through two segments, Cyber & Engineering and Analytics. The Cyber & Engineering segment offers high-end technology and management consulting services. It focuses in the areas of cloud engineering and enterprise IT, cybersecurity, computer network operations and wireless, systems engineering, and strategy and program planning.