AIGH Capital Management LLC Purchases 96,775 Shares of Backblaze, Inc. $BLZE

AIGH Capital Management LLC increased its position in shares of Backblaze, Inc. (NASDAQ:BLZEFree Report) by 5.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,809,096 shares of the company’s stock after acquiring an additional 96,775 shares during the period. Backblaze comprises about 4.5% of AIGH Capital Management LLC’s portfolio, making the stock its 8th biggest position. AIGH Capital Management LLC owned about 3.30% of Backblaze worth $9,950,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. AWM Investment Company Inc. grew its holdings in Backblaze by 9.4% during the 1st quarter. AWM Investment Company Inc. now owns 3,043,926 shares of the company’s stock worth $14,702,000 after acquiring an additional 260,768 shares during the last quarter. Millennium Management LLC grew its holdings in Backblaze by 32.5% during the 1st quarter. Millennium Management LLC now owns 825,422 shares of the company’s stock worth $3,987,000 after acquiring an additional 202,609 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Backblaze by 36.5% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 696,519 shares of the company’s stock worth $3,364,000 after acquiring an additional 186,124 shares during the last quarter. P.A.W. Capital Corp grew its holdings in Backblaze by 25.0% during the 1st quarter. P.A.W. Capital Corp now owns 400,000 shares of the company’s stock worth $1,932,000 after acquiring an additional 80,000 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Backblaze by 27.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 261,610 shares of the company’s stock worth $1,264,000 after acquiring an additional 55,720 shares during the last quarter. 54.03% of the stock is currently owned by institutional investors.

Backblaze Stock Down 3.7%

Shares of NASDAQ BLZE opened at $9.13 on Monday. The company has a market capitalization of $515.85 million, a P/E ratio of -10.26 and a beta of 1.22. Backblaze, Inc. has a 52-week low of $3.94 and a 52-week high of $10.83. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.08 and a current ratio of 1.08. The company’s 50 day moving average price is $9.00 and its 200-day moving average price is $6.52.

Backblaze (NASDAQ:BLZEGet Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.07). Backblaze had a negative net margin of 31.72% and a negative return on equity of 54.88%. The company had revenue of $36.30 million for the quarter, compared to analyst estimates of $35.41 million. Backblaze has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities analysts forecast that Backblaze, Inc. will post -1.02 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on BLZE. Weiss Ratings reissued a “sell (d-)” rating on shares of Backblaze in a report on Wednesday, October 8th. JMP Securities boosted their target price on shares of Backblaze from $7.00 to $8.00 and gave the stock a “market outperform” rating in a report on Friday, August 8th. Citizens Jmp started coverage on shares of Backblaze in a report on Tuesday, June 24th. They set a “strong-buy” rating and a $7.00 target price on the stock. Needham & Company LLC boosted their price target on shares of Backblaze from $7.00 to $8.50 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Finally, Oppenheimer boosted their price target on shares of Backblaze from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $10.19.

Get Our Latest Research Report on BLZE

Backblaze 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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