HawkEye 360 (NYSE:HAWK) Stock Rating Upgraded by Bank of America

Key Points

• Bank of America upgraded HawkEye 360 to “buy” from “neutral,” though it lowered its price target to $23 from $34. The new target implies approximately 42% upside from the stock’s $16.20 opening price.
• Analyst sentiment remains broadly positive, with HawkEye 360 holding a consensus “Moderate Buy” rating and an average price target of $34.20, despite targets ranging from $23 to $42.
• The company reported quarterly EPS of negative $0.07, beating expectations of negative $0.13, on revenue of $49.81 million. Shares are near their 12-month low, while a director recently sold 50,000 shares.

HawkEye 360 (NYSE:HAWK - Get Free Report) was upgraded by research analysts at Bank of America from a "neutral" rating to a "buy" rating in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a $23.00 target price on the stock, down from their previous target price of $34.00. Bank of America's price target suggests a potential upside of 41.98% from the stock's current price.

Other equities research analysts have also recently issued research reports about the stock. The Goldman Sachs Group began coverage on shares of HawkEye 360 in a research note on Monday, June 1st. They issued a "buy" rating and a $42.00 target price for the company. Wall Street Zen upgraded HawkEye 360 from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Weiss Ratings began coverage on HawkEye 360 in a report on Friday, August 14th. They set a "sell (d)" rating on the stock. Berenberg Bank set a $24.00 target price on HawkEye 360 and gave the company a "buy" rating in a research note on Wednesday, September 2nd. Finally, Royal Bank Of Canada decreased their price target on shares of HawkEye 360 from $40.00 to $33.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 23rd. Two investment 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, HawkEye 360 presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.20.

HawkEye 360 Trading Down 1.8%

Shares of NYSE HAWK opened at $16.20 on Thursday. The stock has a 50 day simple moving average of $20.20. HawkEye 360 has a 12 month low of $15.71 and a 12 month high of $35.73.

HawkEye 360 (NYSE:HAWK - Get Free Report) last released its earnings results on Thursday, August 13th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.06. The company had revenue of $49.81 million for the quarter. On average, research analysts forecast that HawkEye 360 will post -0.01 earnings per share for the current fiscal year.

Insider Buying and Selling at HawkEye 360

In other news, Director Arthur Money sold 50,000 shares of the company's stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $16.41, for a total value of $820,500.00. Following the sale, the director directly owned 54,545 shares in the company, valued at approximately $895,083.45. This represents a 47.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 3.80% of the company's stock.

Institutional Trading of HawkEye 360

Several institutional investors have recently bought and sold shares of HAWK. Squarepoint Ops LLC acquired a new position in HawkEye 360 during the second quarter worth $434,000. Readystate Asset Management LP acquired a new stake in shares of HawkEye 360 in the 2nd quarter valued at $455,000. HBK Investments L P acquired a new stake in shares of HawkEye 360 during the 2nd quarter worth about $1,011,000. Tidal Investments LLC bought a new position in HawkEye 360 during the 2nd quarter valued at about $5,260,000. Finally, Alyeska Investment Group L.P. bought a new stake in HawkEye 360 during the second quarter worth about $5,358,000.

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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