Piper Sandler Issues Positive Forecast for HawkEye 360 (NYSE:HAWK) Stock Price

Key Points

• Piper Sandler raised its price target for HawkEye 360 to $24 from $22 and maintained an “overweight” rating, implying 63.82% upside from the current share price.
• Analyst views are mixed, though the consensus rating is “Moderate Buy” with a $32.18 price target. Shares opened at $14.65 Friday, down 4.0%.
• HawkEye 360 reported quarterly EPS of -$0.07, beating analyst expectations of -$0.13; company insiders sold a combined 178,063 shares over the prior 90 days.

HawkEye 360 (NYSE:HAWK - Get Free Report) had its price objective raised by Piper Sandler from $22.00 to $24.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Piper Sandler's price objective suggests a potential upside of 63.82% from the company's current price.

HAWK has been the subject of several other reports. Weiss Ratings reaffirmed a "sell (d)" rating on shares of HawkEye 360 in a research note on Thursday. Bank of America upgraded HawkEye 360 from a "neutral" rating to a "buy" rating and reduced their price target for the company from $34.00 to $23.00 in a report on Thursday, September 17th. Wall Street Zen lowered HawkEye 360 from a "hold" rating to a "sell" rating in a research report on Saturday, September 19th. Berenberg Bank began coverage on HawkEye 360 in a report on Wednesday, September 2nd. They issued a "buy" rating and a $24.00 price objective for the company. Finally, Royal Bank Of Canada cut their price objective on HawkEye 360 from $28.00 to $21.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 28th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, HawkEye 360 has an average rating of "Moderate Buy" and a consensus price target of $32.18.

HawkEye 360 Stock Down 4.0%

NYSE:HAWK opened at $14.65 on Friday. HawkEye 360 has a 1-year low of $11.25 and a 1-year high of $35.73. The stock has a 50 day moving average price of $14.61. The company has a market cap of $1.44 billion and a P/E ratio of -28.17.

HawkEye 360 (NYSE:HAWK - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported ($0.07) EPS for the quarter, topping analysts' consensus estimates of ($0.13) by $0.06. The business had revenue of $49.81 million during the quarter. On average, research analysts anticipate that HawkEye 360 will post -0.67 EPS for the current fiscal year.

Insider Transactions at HawkEye 360

In other news, CFO Craig Chih-Meng Searle sold 9,228 shares of the firm's stock in a transaction that occurred on 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 owned 209,228 shares in the company, valued at $3,408,324.12. This trade represents a 4.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO John Serafini sold 92,329 shares of HawkEye 360 stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $14.78, for a total value of $1,364,622.62. Following the sale, the chief executive officer owned 554,972 shares in the company, valued at $8,202,486.16. This represents a 14.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 178,063 shares of company stock worth $2,766,317 over the last 90 days. 3.80% of the stock is currently owned by insiders.

Institutional Trading of HawkEye 360

A number of hedge funds and other institutional investors have recently modified their holdings of HAWK. State Street Corp purchased a new position in HawkEye 360 during the 2nd quarter valued at about $1,658,000. Tidal Investments LLC purchased a new position in shares of HawkEye 360 during the second quarter valued at approximately $5,260,000. HBK Investments L P bought a new stake in shares of HawkEye 360 in the 2nd quarter worth approximately $1,011,000. Alyeska Investment Group L.P. bought a new stake in shares of HawkEye 360 in the 2nd quarter worth approximately $5,358,000. Finally, State of Alaska Department of Revenue purchased a new stake in shares of HawkEye 360 in the 3rd quarter worth approximately $62,000.

About HawkEye 360

HawkEye 360 is a geospatial intelligence company that uses a constellation of small satellites to detect, locate and characterize radio-frequency (RF) signals around the world. Its data can help customers understand activity such as communications, radar use and other electronic emissions, including in areas where ground-based monitoring is limited. The company combines satellite-collected RF data with analytics and software tools to deliver intelligence products and services. Its customers include government and defense organizations, as well as commercial users with needs related to maritime awareness, security and other forms of activity monitoring.

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