HC Wainwright, a leading investment firm, has reissued its buy rating on shares of BigBear.ai, a provider of artificial intelligence-powered decision intelligence solutions. The firm has set a price objective of $3.00 for the stock. This reiteration comes after Cantor Fitzgerald, another prominent research firm, reaffirmed an “overweight” rating and issued a $3.50 price target on BigBear.ai shares.
In its latest earnings report, released on August 1st, BigBear.ai exceeded analysts’ consensus estimates by reporting earnings per share of ($0.05), beating the expected ($0.07) by $0.02. The company’s revenue for the quarter was $39.78 million, slightly lower than the consensus estimate of $46.55 million. However, it marked a 3.4% increase compared to the same quarter last year.
Despite the positive earnings results, BigBear.ai had a negative net margin of 104.53% and a negative return on equity of 295.34%. Analysts anticipate that the company will post earnings per share of -0.32 for the current fiscal year.
In other news, Director Bbai Ultimate Holdings, LLC sold 572,817 shares of BigBear.ai stock on October 15th, at an average price of $1.78 per share. Following the transaction, the director now holds 143,713,297 shares, representing a 0.00% decrease in their ownership of the stock. This sale was disclosed in a document filed with the SEC.
Hedge funds have also made changes to their positions in BigBear.ai. Koshinski Asset Management Inc. acquired a new stake in the company, while Sovereign Financial Group Inc. and The Manufacturers Life Insurance Company purchased new positions as well. Bank of Montreal Can and XTX Topco Ltd increased their positions in BigBear.ai during the second quarter.
BigBear.ai provides a range of artificial intelligence-powered solutions, including national security, supply chain management, and digital identity and biometrics solutions. The company also offers data ingestion, data enrichment, data processing, artificial intelligence, machine learning, predictive analytics, and predictive visualization solutions and services.