BigBear.ai Stock Surges 16% on Institutional Buying Wave
BigBear.ai Holdings (BBAI) soared 16% Thursday after SEC filings revealed the Swiss National Bank increased its stake by 51.1% last quarter, adding 186,600 shares. The defense-focused AI company now counts Vanguard and BlackRock among its growing institutional backers—Vanguard alone acquired 6.79 million shares in Q3.
Trading volume spiked 78% to 169.9 million shares as the stock hit a $7.18 intraday high. The $250 million Ask Sage acquisition contributes $25 million in annual recurring revenue, though Q3 earnings showed mixed results: $33.14 million revenue beat estimates while the -$0.07 EPS missed by a penny.
Wall Street maintains cautious Optimism with a consensus Hold rating. Analysts' $6.33 average price target suggests potential downside from current levels, despite swelling institutional interest in this AI play.