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AIGH Capital Management LLC Reduces Stock Holdings in Backblaze, Inc. (NASDAQ:BLZE)

Backblaze logo with Computer and Technology background

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

A number of other hedge funds and other institutional investors have also recently modified their holdings of BLZE. AWM Investment Company Inc. boosted its position in shares of Backblaze by 2,664.4% during the 4th quarter. AWM Investment Company Inc. now owns 2,783,158 shares of the company's stock valued at $16,755,000 after acquiring an additional 2,682,480 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Backblaze during the 4th quarter valued at approximately $1,618,000. Perkins Capital Management Inc. boosted its position in shares of Backblaze by 167.0% during the 4th quarter. Perkins Capital Management Inc. now owns 285,225 shares of the company's stock valued at $1,717,000 after acquiring an additional 178,390 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of 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 acquiring an additional 157,897 shares during the last quarter. Finally, Manatuck Hill Partners LLC bought a new position in shares of Backblaze during the 4th quarter valued at approximately $903,000. 54.03% of the stock is currently owned by institutional investors.

Backblaze Trading Down 0.6%

Shares of NASDAQ:BLZE traded down $0.03 on Tuesday, hitting $5.39. 321,780 shares of the company's stock were exchanged, compared to its average volume of 386,551. The stock has a market capitalization of $295.91 million, a price-to-earnings ratio of -5.34 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 1.09. Backblaze, Inc. has a 12 month low of $3.94 and a 12 month high of $8.08. The business's 50 day simple moving average is $5.44 and its two-hundred day simple moving average is $5.57.

Analysts Set New Price Targets

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

Read Our Latest Report on BLZE

Backblaze Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Backblaze (NASDAQ:BLZE)

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