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

BigBear.ai (NYSE:BBAI) issued its quarterly earnings data 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 last year, the firm earned ($0.23) earnings per share. The business’s quarterly revenue was up .5% compared to the same quarter last year. BigBear.ai updated its FY 2024 guidance to EPS.

BigBear.ai Stock Down 31.6 %

NYSE BBAI traded down $1.19 during trading on Friday, hitting $2.57. The company’s stock had a trading volume of 39,702,230 shares, compared to its average volume of 18,485,810. The firm has a 50 day moving average price of $2.20 and a 200 day moving average price of $1.81. The firm has a market cap of $403.03 million, a P/E ratio of -6.12 and a beta of 3.86. BigBear.ai has a 52 week low of $1.16 and a 52 week high of $4.80.

Insiders Place Their Bets

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

Institutional Trading of BigBear.ai

Several institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN bought a new position in BigBear.ai in the 2nd quarter valued at $26,000. Gotham Asset Management LLC raised its position in BigBear.ai by 71.3% in the 3rd quarter. Gotham Asset Management LLC now owns 24,368 shares of the company’s stock valued at $37,000 after purchasing an additional 10,141 shares during the last quarter. Ground Swell Capital LLC bought a new position in BigBear.ai in the 2nd quarter valued at $41,000. UBS Group AG raised its position in BigBear.ai by 14.0% in the 4th quarter. UBS Group AG now owns 66,550 shares of the company’s stock valued at $45,000 after purchasing an additional 8,186 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in BigBear.ai by 1,070,050.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 21,403 shares of the company’s stock valued at $50,000 after purchasing an additional 21,401 shares during the last quarter. Institutional investors and hedge funds own 1.47% of the company’s stock.

Wall Street Analyst Weigh In

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

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.