Bridgeway Capital Management LLC Has $671,000 Stock Holdings in Backblaze, Inc. (NASDAQ:BLZE)

Bridgeway Capital Management LLC boosted its holdings in shares of Backblaze, Inc. (NASDAQ:BLZE) by 36.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 111,400 shares of the company’s stock after buying an additional 30,000 shares during the period. Bridgeway Capital Management LLC owned approximately 0.25% of Backblaze worth $671,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. R Squared Ltd bought a new stake in shares of Backblaze in the 4th quarter worth $38,000. Tower Research Capital LLC TRC grew its position in Backblaze by 300.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,052 shares of the company’s stock valued at $42,000 after buying an additional 5,293 shares during the period. Quantbot Technologies LP grew its position in Backblaze by 60.6% during the fourth quarter. Quantbot Technologies LP now owns 11,648 shares of the company’s stock valued at $70,000 after buying an additional 4,393 shares during the period. Price T Rowe Associates Inc. MD grew its position in Backblaze by 15.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,780 shares of the company’s stock valued at $89,000 after buying an additional 1,992 shares during the period. Finally, Boothbay Fund Management LLC bought a new position in Backblaze during the fourth quarter valued at about $102,000. Institutional investors and hedge funds own 54.03% of the company’s stock.

Backblaze Price Performance

Shares of NASDAQ:BLZE opened at $5.22 on Monday. Backblaze, Inc. has a fifty-two week low of $3.94 and a fifty-two week high of $8.08. The business has a 50-day simple moving average of $4.87 and a two-hundred day simple moving average of $6.03. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.54 and a current ratio of 0.54. The firm has a market cap of $283.45 million, a price-to-earnings ratio of -4.70 and a beta of 1.03.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BLZE shares. Needham & Company LLC started coverage on shares of Backblaze in a research report on Tuesday, March 11th. They set a “buy” rating and a $8.00 target price for the company. B. Riley cut their target price on shares of Backblaze from $11.50 to $11.00 and set a “buy” rating for the company in a research report on Tuesday, February 18th. Finally, Lake Street Capital cut their target price on shares of Backblaze from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently 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.