HawkEye 360 (NYSE:HAWK) Shares Down 5.7% Following Insider Selling

HawkEye 360, Inc. (NYSE:HAWK)’s share price traded down 5.7% on Friday after an insider sold shares in the company. The stock traded as low as $16.06 and last traded at $16.29. Approximately 232,564 shares were traded during trading, a decline of 80% from the average session volume of 1,149,731 shares. The stock had previously closed at $17.28.

Specifically, CFO Craig Chih-Meng Searle sold 9,228 shares of the stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $16.29, for a total transaction of $150,324.12. Following the completion of the sale, the chief financial officer directly owned 209,228 shares in the company, valued at approximately $3,408,324.12. This trade represents a 4.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael Turner sold 18,256 shares of HawkEye 360 stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $16.24, for a total value of $296,477.44. Following the completion of the transaction, the insider directly owned 179,521 shares of the company’s stock, valued at approximately $2,915,421.04. This trade represents a 9.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. In other news, insider Michael Turner sold 8,250 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $16.29, for a total value of $134,392.50. Following the transaction, the insider directly owned 197,777 shares of the company’s stock, valued at $3,221,787.33. The trade was a 4.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HAWK. William Blair initiated coverage on HawkEye 360 in a research note on Monday, June 1st. They set an “outperform” rating for the company. Bank of America upgraded HawkEye 360 from a “neutral” rating to a “buy” rating and cut their price target for the stock from $34.00 to $23.00 in a report on Thursday. Jefferies Financial Group lowered 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. Berenberg Bank set a $24.00 target price on shares of HawkEye 360 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. Finally, Royal Bank Of Canada cut their price objective on shares of HawkEye 360 from $40.00 to $33.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 23rd. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $34.20.

Key Stories Impacting HawkEye 360

Here are the key news stories impacting HawkEye 360 this week:

• Positive Sentiment: Bank of America upgraded HAWK from “Neutral” to “Buy.” The firm said HawkEye 360’s underlying business remains strong and described the valuation as attractive. BofA set a $23 price target, implying substantial upside from recent trading levels, although the target was reduced from $34, indicating a more cautious outlook. BofA Securities upgrade
• Positive Sentiment: HawkEye 360 established a base in Luxembourg as it expands its European presence. The location could improve access to European defense, intelligence and sovereign-security customers for the company’s satellite-based radio-frequency intelligence products. Luxembourg expansion
• Neutral Sentiment: HawkEye 360’s latest quarterly results were better than expected, with a loss of $0.07 per share versus the projected $0.13 loss and revenue of $49.81 million. Analysts expect the company to remain near breakeven, forecasting a full-year loss of approximately $0.01 per share.
• Negative Sentiment: Insider selling creates some overhead pressure. CFO Craig Searle sold 9,228 shares, while Michael Turner sold shares in multiple transactions. The reported sales were intended to cover tax withholding on vested equity awards, and Turner’s transactions were conducted under a Rule 10b5-1 plan, making them less concerning than discretionary selling but still a potential sentiment headwind. Insider sales

HawkEye 360 Price Performance

The firm’s 50-day moving average is $20.14.

HawkEye 360 (NYSE:HAWK) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.06. The company had revenue of $49.81 million for the quarter. On average, analysts predict that HawkEye 360, Inc. will post -0.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC bought a new stake in HawkEye 360 in the 2nd quarter worth about $434,000. Readystate Asset Management LP purchased a new position in shares of HawkEye 360 in the 2nd quarter worth approximately $455,000. HBK Investments L P bought a new position in shares of HawkEye 360 in the second quarter valued at approximately $1,011,000. Tidal Investments LLC bought a new position in shares of HawkEye 360 in the second quarter valued at approximately $5,260,000. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of HawkEye 360 during the second quarter valued at approximately $5,358,000.

HawkEye 360 Company Profile

HawkEye 360 Inc is a space-based data and analytics company that detects, geolocates and characterizes radio-frequency (RF) signals from orbit. Its satellite constellation collects RF emissions from sources such as communications, navigation and radar systems, helping customers identify activity and patterns that may not be visible through traditional imaging or ground-based monitoring.

The company combines satellite-collected RF data with cloud-based analytics and geospatial tools. Its products and services are designed to support defense and intelligence operations, maritime domain awareness, spectrum monitoring, border and infrastructure security, disaster response, and other applications requiring persistent monitoring of activity across wide geographic areas.