Backblaze, Inc. (NASDAQ:BLZE) Stock Position Cut by AIGH Capital Management LLC

AIGH Capital Management LLC cut its position in Backblaze, Inc. (NASDAQ:BLZE - Free Report) by 4.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,712,321 shares of the company's stock after selling 87,679 shares during the period. Backblaze comprises 3.4% of AIGH Capital Management LLC's portfolio, making the stock its 9th largest holding. AIGH Capital Management LLC owned approximately 3.15% of Backblaze worth $8,271,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AWM Investment Company Inc. boosted its position in shares of Backblaze by 2,664.4% during the fourth quarter. AWM Investment Company Inc. now owns 2,783,158 shares of the company's stock worth $16,755,000 after acquiring an additional 2,682,480 shares during the last quarter. Geode Capital Management LLC increased its stake in Backblaze by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 875,829 shares of the company's stock worth $5,273,000 after buying an additional 11,267 shares during the period. Millennium Management LLC increased its stake in Backblaze by 21.2% in the 4th quarter. Millennium Management LLC now owns 622,813 shares of the company's stock worth $3,749,000 after buying an additional 108,884 shares during the period. Renaissance Technologies LLC increased its position in Backblaze by 40.7% during the 4th quarter. Renaissance Technologies LLC now owns 545,513 shares of the company's stock valued at $3,284,000 after purchasing an additional 157,897 shares during the period. Finally, P.A.W. Capital Corp increased its position in Backblaze by 25.0% during the 1st quarter. P.A.W. Capital Corp now owns 400,000 shares of the company's stock valued at $1,932,000 after purchasing an additional 80,000 shares during the period. 54.03% of the stock is owned by hedge funds and other institutional investors.

Backblaze Trading Up 1.4%

Shares of BLZE stock traded up $0.08 on Friday, hitting $5.50. 111,946 shares of the stock traded hands, compared to its average volume of 428,371. The firm's 50-day moving average price is $5.44 and its two-hundred day moving average price is $5.56. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market capitalization of $301.68 million, a PE ratio of -5.44 and a beta of 1.14. Backblaze, Inc. has a twelve month low of $3.94 and a twelve month high of $8.08.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BLZE. JMP Securities began coverage on shares of Backblaze in a report on Tuesday, June 24th. They issued a "market outperform" rating and a $7.00 price target on the stock. Citizens Jmp assumed coverage on shares of Backblaze in a research report on Tuesday, June 24th. They set a "strong-buy" rating and a $7.00 price target on the stock. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $9.88.

Backblaze Profile

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.