Manatuck Hill Partners LLC Makes New $903,000 Investment in Backblaze, Inc. (NASDAQ:BLZE)

Manatuck Hill Partners LLC acquired a new stake in Backblaze, Inc. (NASDAQ:BLZE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 150,000 shares of the company's stock, valued at approximately $903,000. Manatuck Hill Partners LLC owned about 0.34% of Backblaze at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of BLZE. Jane Street Group LLC acquired a new position in Backblaze in the third quarter worth $159,000. Barclays PLC boosted its holdings in shares of Backblaze by 124.4% in the 3rd quarter. Barclays PLC now owns 78,205 shares of the company's stock valued at $500,000 after buying an additional 43,354 shares during the period. Geode Capital Management LLC grew its position in shares of Backblaze by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 864,562 shares of the company's stock valued at $5,525,000 after buying an additional 21,593 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Backblaze by 241.8% during the third quarter. JPMorgan Chase & Co. now owns 125,320 shares of the company's stock worth $801,000 after acquiring an additional 88,652 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in Backblaze by 46.7% in the fourth quarter. SG Americas Securities LLC now owns 19,853 shares of the company's stock worth $120,000 after acquiring an additional 6,322 shares during the last quarter. Institutional investors and hedge funds own 54.03% of the company's stock.

Wall Street Analysts Forecast Growth

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

Backblaze Price Performance

BLZE stock traded up $0.06 during trading on Monday, hitting $4.60. The company had a trading volume of 248,489 shares, compared to its average volume of 393,277. The business has a 50 day moving average of $4.99 and a 200 day moving average of $6.10. The firm has a market capitalization of $249.78 million, a price-to-earnings ratio of -4.14 and a beta of 1.03. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.39. Backblaze, Inc. has a fifty-two week low of $3.94 and a fifty-two week high of $10.00.

Backblaze Company 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.