HawkEye 360 (NYSE:HAWK) Stock Price Target Cut by Royal Bank Of Canada

Key Points

• Royal Bank of Canada cut HawkEye 360’s price target from $33 to $28 while maintaining an “outperform” rating, implying roughly 82% upside from the reported $15.39 share price.
• Analyst sentiment remains mixed but leans positive: MarketBeat reports a consensus “Moderate Buy” rating and an average target price of $33.70, despite some sell and hold recommendations.
• HawkEye 360 exceeded quarterly EPS expectations, reporting a loss of $0.07 per share versus the expected $0.13 loss, while insiders sold about $1.4 million of stock during the last quarter.

HawkEye 360 (NYSE:HAWK - Get Free Report) had its price target cut by analysts at Royal Bank Of Canada from $33.00 to $28.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank Of Canada's price target would suggest a potential upside of 81.94% from the company's current price.

HAWK has been the subject of a number of other research reports. Weiss Ratings assumed coverage on shares of HawkEye 360 in a report on Friday, August 14th. They issued a "sell (d)" rating for the company. Zacks Research upgraded shares of HawkEye 360 to a "hold" rating in a research report on Tuesday, June 2nd. Craig Hallum started coverage on shares of HawkEye 360 in a research note on Monday, July 27th. They set a "buy" rating and a $25.00 price target for the company. Wall Street Zen cut shares of HawkEye 360 from a "hold" rating to a "sell" rating in a research note on Saturday, September 19th. Finally, Bank of America raised HawkEye 360 from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $34.00 to $23.00 in a research report on Thursday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.70.

HawkEye 360 Price Performance

Shares of NYSE HAWK opened at $15.39 on Wednesday. HawkEye 360 has a 12 month low of $15.25 and a 12 month high of $35.73. The business's 50-day simple moving average is $19.66.

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

Insider Buying and Selling

In other news, CFO Craig Chih-Meng Searle sold 9,228 shares of HawkEye 360 stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $16.29, for a total value of $150,324.12. Following the completion of the transaction, the chief financial officer directly owned 209,228 shares of the company's stock, valued at approximately $3,408,324.12. This trade represents a 4.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 dated Friday, September 11th. The shares were sold at an average price of $16.41, for a total value of $820,500.00. Following the completion of the transaction, the director directly owned 54,545 shares in the company, valued at $895,083.45. This represents a 47.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 85,734 shares of company stock valued at $1,401,694 over the last quarter.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of HAWK. Squarepoint Ops LLC bought a new position in HawkEye 360 during the second quarter worth $434,000. Readystate Asset Management LP acquired a new position in shares of HawkEye 360 during the second quarter valued at about $455,000. HBK Investments L P bought a new position in shares of HawkEye 360 during the 2nd quarter worth about $1,011,000. State Street Corp acquired a new stake in shares of HawkEye 360 in the 2nd quarter valued at about $1,658,000. Finally, Tidal Investments LLC bought a new stake in HawkEye 360 in the 2nd quarter valued at about $5,260,000.

About HawkEye 360

HawkEye 360 Inc is a space-based data and analytics company that detects, geolocates and characterizes radio-frequency (RF) signals from orbit. Its satellite constellation collects RF emissions from sources such as communications, navigation and radar systems, helping customers identify activity and patterns that may not be visible through traditional imaging or ground-based monitoring.

The company combines satellite-collected RF data with cloud-based analytics and geospatial tools. Its products and services are designed to support defense and intelligence operations, maritime domain awareness, spectrum monitoring, border and infrastructure security, disaster response, and other applications requiring persistent monitoring of activity across wide geographic areas.

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