82,000 Shares of HawkEye 360, Inc. $HAWK Bought by State Street Corp

Key Points

• State Street Corp. bought 82,000 HawkEye 360 shares worth approximately $1.66 million during the second quarter, while several other institutional investors also initiated positions.
• HawkEye 360 reported quarterly revenue of $49.81 million and an adjusted loss of $0.07 per share, beating analysts’ expected loss of $0.13 per share. The stock opened at $16.16, near its 12-month low of $15.45.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $34.20, although recent targets were reduced. Insiders sold shares primarily to cover tax obligations tied to vested equity awards.

State Street Corp purchased a new stake in shares of HawkEye 360, Inc. (NYSE:HAWK - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 82,000 shares of the company's stock, valued at approximately $1,658,000. State Street Corp owned about 0.08% of HawkEye 360 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. HBK Investments L P acquired a new position in HawkEye 360 during the 2nd quarter worth $1,011,000. Tidal Investments LLC acquired a new stake in HawkEye 360 in the second quarter worth about $5,260,000. Squarepoint Ops LLC bought a new position in HawkEye 360 in the 2nd quarter valued at about $434,000. Readystate Asset Management LP bought a new stake in shares of HawkEye 360 during the 2nd quarter worth about $455,000. Finally, Alyeska Investment Group L.P. bought a new stake in shares of HawkEye 360 during the 2nd quarter worth about $5,358,000.

HawkEye 360 Trading Up 1.0%

Shares of HawkEye 360 stock opened at $16.16 on Friday. HawkEye 360, Inc. has a 12-month low of $15.45 and a 12-month high of $35.73. The stock's fifty day moving average is $19.76.

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

Analyst Ratings Changes

Several research firms have recently issued reports on HAWK. William Blair started coverage on shares of HawkEye 360 in a report on Monday, June 1st. They issued an "outperform" rating for the company. Berenberg Bank set a $24.00 target price on HawkEye 360 and gave the stock a "buy" rating in a research report on Wednesday, September 2nd. Jefferies Financial Group lowered their price target on HawkEye 360 from $34.00 to $31.00 and set a "buy" rating on the stock in a research report on Monday, August 17th. Royal Bank Of Canada cut their price objective on HawkEye 360 from $40.00 to $33.00 and set an "outperform" rating for the company in a report on Tuesday, June 23rd. Finally, The Goldman Sachs Group initiated coverage on shares of HawkEye 360 in a research report on Monday, June 1st. They issued a "buy" rating and a $42.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $34.20.

Insider Activity at HawkEye 360

In related 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 shares were 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 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 document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael Turner sold 18,256 shares of HawkEye 360 stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $16.24, for a total transaction of $296,477.44. Following the transaction, the insider owned 179,521 shares in the company, valued at approximately $2,915,421.04. The trade was a 9.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 85,734 shares of company stock worth $1,401,694. 3.80% of the stock is owned by corporate insiders.

HawkEye 360 Company Profile

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.

Want to see what other hedge funds are holding HAWK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HawkEye 360, Inc. (NYSE:HAWK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.