SpringBig (NASDAQ:SBIG) Issues Quarterly Earnings Results

SpringBig (NASDAQ:SBIG) announced its quarterly earnings results on Monday. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.04), reports. The business had revenue of $6.89 million for the quarter, compared to analysts’ expectations of $7.25 million. SpringBig updated its FY 2023 guidance to EPS.

SpringBig Price Performance

NASDAQ SBIG opened at $0.15 on Thursday. The stock’s 50 day simple moving average is $0.13 and its 200 day simple moving average is $0.30. SpringBig has a one year low of $0.07 and a one year high of $1.40. The firm has a market cap of $6.25 million, a PE ratio of -0.40 and a beta of 2.68.

Institutional Trading of SpringBig

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC acquired a new position in shares of SpringBig in the 2nd quarter valued at $40,000. Jane Street Group LLC acquired a new position in shares of SpringBig during the 2nd quarter worth about $55,000. Neuberger Berman Group LLC bought a new stake in shares of SpringBig in the 3rd quarter valued at about $116,000. Finally, Millennium Management LLC acquired a new stake in shares of SpringBig in the 2nd quarter valued at approximately $467,000. 11.54% of the stock is owned by institutional investors.

SpringBig Company Profile

SpringBig Holdings, Inc operates a software platform that provides marketing and customer engagement services to cannabis dispensaries and brands in the United States and Canada. Its platform offers loyalty and marketing automation solutions. The company was founded in 2016 and is headquartered in Boca Raton, Florida.