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

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

Several other large investors have also modified their holdings of BLZE. R Squared Ltd purchased a new position in Backblaze during the 4th quarter worth $38,000. Tower Research Capital LLC TRC raised its holdings in Backblaze by 300.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,052 shares of the company's stock worth $42,000 after purchasing an additional 5,293 shares in the last quarter. Quantbot Technologies LP lifted its position in Backblaze by 60.6% in the fourth quarter. Quantbot Technologies LP now owns 11,648 shares of the company's stock valued at $70,000 after purchasing an additional 4,393 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Backblaze by 15.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,780 shares of the company's stock valued at $89,000 after purchasing an additional 1,992 shares in the last quarter. Finally, Boothbay Fund Management LLC acquired a new position in Backblaze during the 4th quarter worth approximately $102,000. Hedge funds and other institutional investors own 54.03% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on BLZE. Needham & Company LLC started coverage on Backblaze in a report on Tuesday, March 11th. They issued a "buy" rating and a $8.00 price target for the company. B. Riley decreased their target price on shares of Backblaze from $11.50 to $11.00 and set a "buy" rating on the stock in a research report on Tuesday, February 18th. Finally, Lake Street Capital cut their price target on shares of Backblaze from $12.00 to $11.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $10.83.

Backblaze Price Performance

BLZE traded up $0.06 during midday trading on Wednesday, reaching $4.56. 65,611 shares of the company's stock were exchanged, compared to its average volume of 392,261. Backblaze, Inc. has a 1-year low of $3.94 and a 1-year high of $10.00. The stock has a market capitalization of $247.34 million, a PE ratio of -4.10 and a beta of 1.03. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.54 and a quick ratio of 0.54. The business's 50-day moving average price is $4.95 and its 200 day moving average price is $6.08.

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.