AWM Investment Company Inc. Has $14.70 Million Stock Holdings in Backblaze, Inc. $BLZE

Key Points

• AWM Investment Company Inc. increased its stake in Backblaze, Inc. by 9.4% during Q1, owning 3,043,926 shares now valued at approximately $14.7 million.
• Backblaze's stock has a current market cap of $462.74 million, with a one-year trading range of $3.94 to $8.65.
• Analysts have a consensus "Buy" rating for Backblaze, with a target price averaging $10.07.

AWM Investment Company Inc. boosted its position in shares of Backblaze, Inc. (NASDAQ:BLZE - Free Report) by 9.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,043,926 shares of the company's stock after acquiring an additional 260,768 shares during the quarter. Backblaze accounts for 2.0% of AWM Investment Company Inc.'s portfolio, making the stock its 17th biggest holding. AWM Investment Company Inc. owned 5.61% of Backblaze worth $14,702,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. PDT Partners LLC lifted its position in shares of Backblaze by 163.8% in the first quarter. PDT Partners LLC now owns 113,848 shares of the company's stock worth $550,000 after buying an additional 70,688 shares in the last quarter. Trexquant Investment LP grew its stake in Backblaze by 38.6% in the first quarter. Trexquant Investment LP now owns 201,567 shares of the company's stock worth $974,000 after purchasing an additional 56,176 shares in the last quarter. Corebridge Financial Inc. grew its stake in Backblaze by 13.4% in the first quarter. Corebridge Financial Inc. now owns 22,508 shares of the company's stock worth $109,000 after purchasing an additional 2,665 shares in the last quarter. Virtus Advisers LLC bought a new stake in Backblaze during the 1st quarter valued at $233,000. Finally, EntryPoint Capital LLC boosted its position in Backblaze by 214.1% during the 1st quarter. EntryPoint Capital LLC now owns 73,996 shares of the company's stock valued at $357,000 after acquiring an additional 50,438 shares in the last quarter. Institutional investors own 54.03% of the company's stock.

Backblaze Price Performance

Backblaze stock traded up $0.01 during mid-day trading on Friday, reaching $8.70. The company had a trading volume of 529,237 shares, compared to its average volume of 699,416. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.08 and a quick ratio of 1.08. The stock's 50-day simple moving average is $6.47 and its 200-day simple moving average is $5.69. Backblaze, Inc. has a 1 year low of $3.94 and a 1 year high of $8.85. The company has a market capitalization of $491.55 million, a P/E ratio of -9.78 and a beta of 1.20.

Backblaze (NASDAQ:BLZE - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.07). The firm had revenue of $36.30 million during the quarter, compared to analysts' expectations of $35.41 million. Backblaze had a negative return on equity of 54.88% and a negative net margin of 31.72%. Backblaze has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities analysts predict that Backblaze, Inc. will post -1.02 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BLZE. Citizens Jmp initiated coverage on Backblaze in a research note on Tuesday, June 24th. They issued a "strong-buy" rating and a $7.00 target price for the company. JMP Securities boosted their target price on Backblaze from $7.00 to $8.00 and gave the stock a "market outperform" rating in a report on Friday, August 8th. Finally, Needham & Company LLC lifted their price target on shares of Backblaze from $7.00 to $8.50 and gave the company a "buy" rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $10.07.

About Backblaze

Backblaze, Inc, a storage cloud platform, provides businesses and consumers cloud services to store, use, and protect data in the United States and internationally. The company offers cloud services through a web-scale software infrastructure built on commodity hardware. It also provides Backblaze B2 Cloud Storage, which enables customers to store data, developers to build applications, and partners to expand their use cases.