BigBear.ai Stock Rallies On Contract Win From US Navy To Build Engineering Solutions: Retail Says 'Load The Boats'

BigBear.ai will offer the U.S. Navy systems, process engineering services, and other technology solutions. However, it did not disclose the value of the contract.

Shares of BigBear.ai Holdings Inc. (BBAI) surged more than 15% in mid-day trade on Thursday after the company bagged a new contract from the U.S. Department of Navy.

BigBear.ai has been awarded an indefinite-delivery/indefinite-quantity (IDIQ) contract under the U.S. Navy’s SeaPort Next Generation (SeaPort NxG) program.

SeaPort NxG is the U.S. Navy’s contracting platform used for the procurement of technical, engineering, and professional services.

“This award reflects our continued dedication to our Nation’s defense efforts, and we are honored to contribute our capabilities to the critical missions of the U.S. Navy,” said Kevin McAleenan, CEO of BigBear.ai.

BigBear.ai will offer U.S. Navy systems and process engineering services as well as other technology solutions. However, it did not disclose the value of the contract.

Retail sentiment on Stocktwits around the BigBear.ai stock was divided, hovering in the ‘neutral’ (49/100) territory.

However, users were gung-ho about the company’s prospects, with one user saying, “Load the boats.”

BigBear.ai’s stock price has nearly tripled over the past six months, gaining almost 195%.

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