BigBear.ai Holdings, Inc. (NYSE: BBAI – Get Rating) enjoyed significant growth in short-term interest in September. As of September 30, there was short interest totaling 602,200 shares, a growth of 25.1% from the total of 481,200 shares as of September 15. Based on an average trading volume of 1,430,000 shares, the day-to-cover ratio is currently 0.4 days. Approximately 5.2% of the company’s shares are sold short.
Hedge funds weigh on BigBear.ai
Several institutional investors and hedge funds have recently changed their holdings in BBAI. Greenhaven Road Investment Management LP acquired a new position in shares of BigBear.ai in the second quarter worth approximately $2,291,000. Invesco Ltd. acquired a new stake in BigBear.ai during the first quarter worth approximately $2,953,000. Goldman Sachs Group Inc. acquired a new stake in BigBear.ai during the first quarter worth approximately $142,000. Finally, Credit Suisse AG acquired a new stake in BigBear.ai during the second quarter worth approximately $55,000. 3.90% of the shares are currently held by institutional investors and hedge funds.
BigBear.ai is trading down 2.3%
Shares of BBAI were down $0.03 during Monday trading hours, hitting $1.27. The company had a trading volume of 92,355 shares, compared to an average volume of 806,248. The company has a fifty-day moving average of $1.53 and a 200-day moving average of $4.70. BigBear.ai has a 12 month minimum of $1.19 and a 12 month maximum of $16.12. The company has a debt ratio of 33.05, a current ratio of 2.35 and a quick ratio of 2.35.
BigBear.ai (NYSE:BBAI – Get Rating) last released its quarterly earnings data on Tuesday, August 9. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.36). The company posted revenue of $37.61 million for the quarter, versus a consensus estimate of $40.87 million. As a group, analysts expect BigBear.ai to post -0.79 earnings per share for the current year.
Changes to analyst ratings
Separately, Oppenheimer downgraded shares of BigBear.ai from an “outperforming” rating to a “market performing” rating in a Wednesday, Aug. 10 research report.
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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 on the areas of cloud engineering and enterprise computing, cybersecurity, computer network and wireless operations, systems engineering, and strategy and program planning.
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