HawkEye 360 (NYSE:HAWK) Sets New 12-Month Low on Insider Selling

Key Points

• HawkEye 360 shares hit a new 52-week low, falling to $14.51 after CEO John Serafini sold 92,329 shares worth approximately $1.36 million under a pre-arranged Rule 10b5-1 trading plan.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $33.70, despite several firms recently lowering their targets.
• The company reported quarterly revenue of $49.81 million and an adjusted loss of $0.07 per share, beating analysts’ expected loss of $0.13 per share.

HawkEye 360, Inc. (NYSE:HAWK - Get Free Report) shares hit a new 52-week low on Monday after an insider sold shares in the company. The company traded as low as $14.51 and last traded at $14.93, with a volume of 545 shares traded. The stock had previously closed at $14.81.

Specifically, CEO John Serafini sold 92,329 shares of the business's stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $14.78, for a total transaction of $1,364,622.62. Following the completion of the transaction, the chief executive officer owned 554,972 shares in the company, valued at $8,202,486.16. The trade was a 14.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Ratings Changes

Several brokerages recently weighed in on HAWK. Weiss Ratings assumed coverage on shares of HawkEye 360 in a report on Friday, August 14th. They issued a "sell (d)" rating on the stock. Craig Hallum assumed coverage on HawkEye 360 in a report on Monday, July 27th. They issued a "buy" rating and a $25.00 price target for the company. Jefferies Financial Group dropped their price objective on shares of HawkEye 360 from $34.00 to $31.00 and set a "buy" rating for the company in a research note on Monday, August 17th. Royal Bank Of Canada reduced their target price on shares of HawkEye 360 from $33.00 to $28.00 and set an "outperform" rating on the stock in a research note on Wednesday, September 30th. Finally, Berenberg Bank set a $24.00 target price on HawkEye 360 and gave the company a "buy" rating in a research report on Wednesday, September 2nd. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.70.

HawkEye 360 Trading Up 0.8%

The company has a fifty day moving average price of $19.38.

HawkEye 360 (NYSE:HAWK - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.07) EPS for the quarter, topping analysts' consensus estimates of ($0.13) by $0.06. The business had revenue of $49.81 million for the quarter. On average, equities analysts predict that HawkEye 360, Inc. will post -0.01 EPS for the current year.

Hedge Funds Weigh In On HawkEye 360

Several institutional investors and hedge funds have recently made changes to their positions in the company. Squarepoint Ops LLC acquired a new position in HawkEye 360 during the second quarter valued at approximately $434,000. Readystate Asset Management LP bought a new position in HawkEye 360 in the second quarter valued at about $455,000. HBK Investments L P acquired a new position in HawkEye 360 during the 2nd quarter worth approximately $1,011,000. State Street Corp acquired a new position in shares of HawkEye 360 during the second quarter worth $1,658,000. Finally, Tidal Investments LLC acquired a new stake in shares of HawkEye 360 during the 2nd quarter valued at $5,260,000.

HawkEye 360 Company Profile

HawkEye 360 Inc is a geospatial intelligence company that uses a commercial satellite constellation to detect, characterize and geolocate radio-frequency (RF) signals from space. Its technology helps identify activity associated with communications, navigation and other electromagnetic-spectrum sources that may not be visible through traditional imagery.

The company provides RF data, analytics and intelligence products designed to support defense and national security missions, maritime domain awareness, border and infrastructure monitoring, spectrum management and other applications.

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