BigBear.ai, Inc. (NYSE:BBAI) shares are trading higher on Monday. The stock has trended higher since the beginning of November. Here’s a look at why.
What To Know: BigBear.ai stock began its most recent move higher in early November, benefitting from a dip in Treasury yields.
On Nov. 6, the company announced it would acquire Pangiam Intermediate Holdings, LLC for approximately $70 million.
The company reported third-quarter earnings on Nov. 7, posting quarterly earnings of three cents per share, beating the analyst consensus estimate of losses of seven cents, and quarterly sales of $33.99 million, which missed the analyst consensus estimate of $41.74 million.
The company also issued full-year 2023 revenue guidance in a range between $155 million and $170 million, versus the $165.29 million estimate.
Shares took a short breather following the mixed financial report, only to charge higher over the past several days. BigBear.ai stock was up over 15% on Monday alone.
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BBAI Price Action: Shares of BBAI were up 12.8% at $1.76 at the time of publication, according to Benzinga Pro.
Image by Vicki Hamilton from Pixabay
