Backblaze, Inc. (NASDAQ:BLZE) Shares Acquired by AWM Investment Company Inc.

AWM Investment Company Inc. grew its holdings in Backblaze, Inc. (NASDAQ:BLZE - Free Report) by 2,664.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,783,158 shares of the company's stock after acquiring an additional 2,682,480 shares during the period. Backblaze comprises 2.0% of AWM Investment Company Inc.'s holdings, making the stock its 17th biggest position. AWM Investment Company Inc. owned about 6.27% of Backblaze worth $16,755,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its stake in shares of Backblaze by 241.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 125,320 shares of the company's stock valued at $801,000 after purchasing an additional 88,652 shares during the period. Blair William & Co. IL acquired a new position in shares of Backblaze in the fourth quarter worth about $185,000. D. E. Shaw & Co. Inc. raised its position in shares of Backblaze by 302.8% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 115,994 shares of the company's stock worth $698,000 after acquiring an additional 87,194 shares during the period. Penbrook Management LLC purchased a new stake in shares of Backblaze during the 4th quarter worth about $288,000. Finally, Virtu Financial LLC acquired a new stake in shares of Backblaze during the 4th quarter valued at about $117,000. Institutional investors and hedge funds own 54.03% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on BLZE. Lake Street Capital reduced their price target on Backblaze from $12.00 to $11.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. B. Riley cut their price objective on Backblaze from $11.50 to $11.00 and set a "buy" rating for the company in a research report on Tuesday, February 18th. Finally, Needham & Company LLC began coverage on Backblaze in a research report on Tuesday, March 11th. They set a "buy" rating and a $8.00 target price on the stock. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Backblaze presently has an average rating of "Buy" and a consensus price target of $10.83.

Backblaze Price Performance

BLZE stock traded down $0.35 during midday trading on Monday, reaching $5.63. The stock had a trading volume of 694,557 shares, compared to its average volume of 398,551. Backblaze, Inc. has a 52-week low of $3.94 and a 52-week high of $8.08. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.39. The company's fifty day simple moving average is $4.90 and its 200 day simple moving average is $5.89. The company has a market cap of $309.09 million, a price-to-earnings ratio of -5.07 and a beta of 1.03.

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.