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0.63%
-0.01
Why is Bigbear Ai Holdings Inc (BBAI) Stock down?
We've noticed a 5.36% decline in Bigbear Ai Holdings Inc (BBAI) stock during the 2024-10-31 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
08 Mar, 2024:
BigBear (BBAI) stock fell by 31.65% due to the release of its fourth-quarter financial results, which fell short of expectations.
- Q4 financial results: The company reported quarterly losses of 14 cents per share, significantly missing the consensus estimate of losses of 5 cents per share. Additionally, quarterly sales came in at $40.563 million, below the analyst consensus estimate of $42.755 million and representing only a marginal 0.51% increase year-over-year.
- Acquisition announcement: In addition to the financial results, BigBear.ai announced the finalization of its acquisition of Pangiam Intermediate Holdings on February 29. This acquisition is part of BigBear.ai's strategic growth plan and could impact future financial performance. Overall, the market's reaction to BigBear.ai's quarterly results reflects investor disappointment in the company's financial performance.
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