Backblaze, Inc. (NASDAQ:BLZE) Holdings Lifted by AWM Investment Company Inc.

AWM Investment Company Inc. increased its holdings in Backblaze, Inc. (NASDAQ:BLZE) by 2,664.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,783,158 shares of the company’s stock after acquiring an additional 2,682,480 shares during the period. Backblaze comprises about 2.0% of AWM Investment Company Inc.’s holdings, making the stock its 17th largest holding. AWM Investment Company Inc. owned approximately 6.27% of Backblaze worth $16,755,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. AIGH Capital Management LLC acquired a new stake in shares of Backblaze during the 4th quarter valued at $10,836,000. Thompson Siegel & Walmsley LLC purchased a new stake in shares of Backblaze during the fourth quarter worth $2,956,000. P.A.W. Capital Corp acquired a new stake in Backblaze during the fourth quarter valued at $1,926,000. Raymond James Financial Inc. acquired a new stake in Backblaze during the fourth quarter valued at $1,618,000. Finally, Perkins Capital Management Inc. grew its stake in Backblaze by 167.0% in the fourth quarter. Perkins Capital Management Inc. now owns 285,225 shares of the company’s stock valued at $1,717,000 after purchasing an additional 178,390 shares in the last quarter. 54.03% of the stock is owned by hedge funds and other institutional investors.

Backblaze Stock Performance

Shares of NASDAQ BLZE opened at $5.33 on Wednesday. Backblaze, Inc. has a 12 month low of $3.94 and a 12 month high of $8.08. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.39. The company has a market cap of $292.62 million, a P/E ratio of -4.80 and a beta of 1.03. The business’s 50 day moving average is $4.88 and its two-hundred day moving average is $5.94.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BLZE. B. Riley cut their price target on Backblaze from $11.50 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, February 18th. Needham & Company LLC assumed coverage on shares of Backblaze in a research report on Tuesday, March 11th. They issued a “buy” rating and a $8.00 price target on the stock. Finally, Lake Street Capital reduced their price objective on shares of Backblaze from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $10.83.

About Backblaze

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.