MarketPR
BigBear.ai (BBAI) shares climbed 4.35% to close at $2.40 on Tuesday, following the company's announcement of more than $225 million in new contract awards.
The stock had surged as much as 11.7% earlier in the session before easing off its intraday high.
The company reported securing these awards since July, a development that includes 25 new generative AI contracts with federal agencies. Among the recipients of these awards are the FBI, NASA, the U.S.
Coast Guard, the Department of Energy, and the Department of Veterans Affairs. Management stated that these additions reinforce the company's federal backlog story.
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