HawkEye 360 (NYSE:HAWK) Stock Moved Up to "Strong-Buy" by Piper Sandler

Key Points

• Piper Sandler upgraded HawkEye 360 to “strong buy,” contributing to an overall analyst consensus rating of “Buy” and an average price target of $32.64.
• HAWK shares rose 3.6% to $12.83, while the company’s latest quarterly results exceeded expectations, reporting a loss of $0.07 per share versus the $0.13 consensus estimate and revenue of $49.81 million.
• Insiders sold 178,063 shares worth approximately $2.77 million over the past 90 days, even as several institutional investors established new positions during the second quarter.

HawkEye 360 (NYSE:HAWK - Get Free Report) was upgraded by investment analysts at Piper Sandler to a "strong-buy" rating in a note issued to investors on Thursday, Zacks reports.

A number of other research analysts have also recently commented on HAWK. Jefferies Financial Group reduced their price objective on HawkEye 360 from $34.00 to $31.00 and set a "buy" rating on the stock in a research note on Monday, August 17th. Weiss Ratings started coverage on HawkEye 360 in a research report on Friday, August 14th. They issued a "sell (d)" rating for the company. Royal Bank Of Canada lowered their target price on HawkEye 360 from $33.00 to $28.00 and set an "outperform" rating for the company in a research note on Wednesday, September 30th. Craig Hallum initiated coverage on HawkEye 360 in a report on Monday, July 27th. They set a "buy" rating and a $25.00 target price on the stock. Finally, Wall Street Zen downgraded HawkEye 360 from a "hold" rating to a "sell" rating in a report on Saturday, September 19th. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $32.64.

HawkEye 360 Trading Up 3.6%

Shares of HAWK stock opened at $12.83 on Thursday. The company has a fifty day simple moving average of $17.90. HawkEye 360 has a 52 week low of $12.09 and a 52 week high of $35.73.

HawkEye 360 (NYSE:HAWK - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.07) earnings per share for the quarter, topping analysts' consensus estimates of ($0.13) by $0.06. The business had revenue of $49.81 million for the quarter. On average, equities analysts expect that HawkEye 360 will post -0.01 earnings per share for the current year.

Insider Activity

In other HawkEye 360 news, CFO Craig Chih-Meng Searle sold 9,228 shares of the business's stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $16.29, for a total value of $150,324.12. Following the transaction, the chief financial officer owned 209,228 shares in the company, valued at $3,408,324.12. The trade was a 4.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Arthur L. Money sold 50,000 shares of the business's stock in a transaction on Friday, September 11th. The stock was sold at an average price of $16.41, for a total transaction of $820,500.00. Following the completion of the transaction, the director owned 54,545 shares in the company, valued at $895,083.45. This represents a 47.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 178,063 shares of company stock valued at $2,766,317 in the last 90 days. Company insiders own 3.80% of the company's stock.

Institutional Trading of HawkEye 360

Large investors have recently modified their holdings of the business. State Street Corp acquired a new position in shares of HawkEye 360 in the second quarter worth about $1,658,000. Tidal Investments LLC purchased a new position in HawkEye 360 in the second quarter valued at about $5,260,000. HBK Investments L P purchased a new position in HawkEye 360 in the second quarter valued at about $1,011,000. Alyeska Investment Group L.P. purchased a new position in HawkEye 360 in the second quarter valued at about $5,358,000. Finally, Readystate Asset Management LP acquired a new stake in HawkEye 360 during the 2nd quarter valued at approximately $455,000.

About HawkEye 360

HawkEye 360 Inc is a geospatial intelligence company that uses a commercial satellite constellation to detect, characterize and geolocate radio-frequency (RF) signals from space. Its technology helps identify activity associated with communications, navigation and other electromagnetic-spectrum sources that may not be visible through traditional imagery.

The company provides RF data, analytics and intelligence products designed to support defense and national security missions, maritime domain awareness, border and infrastructure monitoring, spectrum management and other applications.

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