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BigCommerce Holdings, Inc. (NASDAQ:BIGC – Get Rating) was the target of a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 4,320,000 shares, a decline of 24.6% from the October 31st total of 5,730,000 shares. Based on an average trading volume of 1,120,000 shares, the short-interest ratio is currently 3.9 days. Currently, 7.2% of the shares of the company are sold short.
BigCommerce Stock Performance
BIGC traded up $0.76 during midday trading on Thursday, hitting $9.40. 67,231 shares of the company traded hands, compared to its average volume of 1,916,584. The company has a quick ratio of 5.66, a current ratio of 5.66 and a debt-to-equity ratio of 5.18. The firm has a market capitalization of $692.59 million, a PE ratio of -4.75 and a beta of 0.64. The company’s 50-day moving average is $12.16 and its 200 day moving average is $15.63. BigCommerce has a 52 week low of $7.81 and a 52 week high of $49.23.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on BIGC shares. Truist Financial cut shares of BigCommerce from a “buy” rating to a “hold” rating and set a $13.00 price target for the company. in a research note on Friday, November 4th. KeyCorp lowered their price objective on shares of BigCommerce from $25.00 to $15.00 and set an “overweight” rating for the company in a report on Monday, November 7th. Morgan Stanley lowered their price objective on shares of BigCommerce from $19.00 to $18.00 and set an “equal weight” rating for the company in a report on Friday, November 4th. Piper Sandler lowered their price objective on shares of BigCommerce from $26.00 to $18.00 and set an “overweight” rating for the company in a report on Friday, November 4th. Finally, The Goldman Sachs Group lowered their price objective on shares of BigCommerce from $26.00 to $23.00 and set a “buy” rating for the company in a report on Monday, November 7th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.27.
Insiders Place Their Bets
In other news, CMO Lisa Eggerton sold 13,911 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $17.08, for a total value of $237,599.88. Following the sale, the chief marketing officer now owns 103,447 shares of the company’s stock, valued at $1,766,874.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 31.70% of the company’s stock.
Hedge Funds Weigh In On BigCommerce
Institutional investors have recently made changes to their positions in the business. Advisors Asset Management Inc. raised its stake in BigCommerce by 81.9% during the 1st quarter. Advisors Asset Management Inc. now owns 3,716 shares of the company’s stock worth $81,000 after acquiring an additional 1,673 shares during the period. Essex Investment Management Co. LLC raised its stake in BigCommerce by 14.9% during the 1st quarter. Essex Investment Management Co. LLC now owns 5,778 shares of the company’s stock worth $127,000 after acquiring an additional 749 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its stake in BigCommerce by 351.3% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 5,831 shares of the company’s stock worth $86,000 after acquiring an additional 4,539 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in BigCommerce by 37.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,704 shares of the company’s stock worth $109,000 after acquiring an additional 1,811 shares during the period. Finally, Cullen Frost Bankers Inc. purchased a new stake in BigCommerce during the 3rd quarter valued at approximately $104,000. Institutional investors own 72.52% of the company’s stock.
BigCommerce Company Profile
(Get Rating)
BigCommerce Holdings, Inc operates a software-as-a-service platform for small businesses, mid-markets, and large enterprises in the United States, Europe, the Middle East, Africa, the Asia-Pacific, and internationally. The company's platform provides various services for launching and scaling e-commerce operation, including store design, catalog management, hosting, checkout, order management, reporting, and pre-integrations.
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