Royal Bank Of Canada Cuts HawkEye 360 (NYSE:HAWK) Price Target to $28.00

HawkEye 360 (NYSE:HAWK) had its price target trimmed by Royal Bank Of Canada from $33.00 to $28.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other brokerages have also commented on HAWK. 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. Bank of America upgraded HawkEye 360 from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $34.00 to $23.00 in a report on Thursday, September 17th. Weiss Ratings assumed coverage on HawkEye 360 in a report on Friday, August 14th. They set a “sell (d)” rating on the stock. Jefferies Financial Group reduced 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 report on Monday, August 17th. Finally, Wall Street Zen downgraded shares of HawkEye 360 from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $33.70.

HawkEye 360 Stock Up 1.0%

HAWK opened at $14.87 on Wednesday. HawkEye 360 has a twelve month low of $14.51 and a twelve month high of $35.73. The business’s fifty day moving average price is $19.38.

HawkEye 360 (NYSE:HAWK) last released its earnings results on Thursday, August 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.06. The firm had revenue of $49.81 million during the quarter. As a group, research analysts anticipate that HawkEye 360 will post -0.01 earnings per share for the current fiscal year.

Insider Transactions at HawkEye 360

In other HawkEye 360 news, insider Michael Turner sold 18,256 shares of the stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $16.24, for a total value of $296,477.44. Following the transaction, the insider owned 179,521 shares in the company, valued at approximately $2,915,421.04. This represents a 9.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO John Sheldon Serafini sold 92,329 shares of the firm’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 value of $1,364,622.62. Following the completion of the sale, the chief executive officer directly owned 554,972 shares of the company’s stock, valued at $8,202,486.16. This trade represents a 14.26% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 178,063 shares of company stock valued at $2,766,317 in the last 90 days. Corporate insiders own 3.80% of the company’s stock.

Institutional Trading of HawkEye 360

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

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.