HawkEye 360 (NYSE:HAWK) Stock Bumped Up to Strong-Buy by Piper Sandler

Piper Sandler upgraded shares of HawkEye 360 (NYSE:HAWK) to a strong-buy rating in a research note released on Thursday morning,Zacks reports.

Other research analysts also recently issued reports about the company. Royal Bank Of Canada dropped their price objective on HawkEye 360 from $33.00 to $28.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 30th. Weiss Ratings started coverage on HawkEye 360 in a research report on Friday, August 14th. They set a “sell (d)” rating on the stock. Craig Hallum initiated coverage on HawkEye 360 in a research note on Monday, July 27th. They set a “buy” rating and a $25.00 target price for the company. 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. Finally, Berenberg Bank set a $24.00 price target on HawkEye 360 and gave the company a “buy” rating in a research note on Wednesday, September 2nd. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $32.64.

HawkEye 360 Stock Performance

HAWK opened at $12.83 on Thursday. HawkEye 360 has a twelve month low of $12.09 and a twelve month high of $35.73. The business’s fifty day moving average price is $17.90. The firm has a market capitalization of $1.26 billion and a PE ratio of -24.67.

HawkEye 360 (NYSE:HAWK) last announced its earnings results on Thursday, August 13th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.06. The firm had revenue of $49.81 million for the quarter. On average, equities research analysts anticipate that HawkEye 360 will post -0.01 EPS for the current fiscal year.

Insider Activity at HawkEye 360

In other HawkEye 360 news, CEO John Serafini sold 92,329 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $8,202,486.16. This trade represents a 14.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Turner sold 18,256 shares of the firm’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $16.24, for a total transaction of $296,477.44. Following the completion of the sale, the insider owned 179,521 shares of the company’s stock, valued at $2,915,421.04. The trade was a 9.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders sold 178,063 shares of company stock valued at $2,766,317 in the last ninety days. Insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On HawkEye 360

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue acquired a new position in HawkEye 360 during the 3rd quarter worth approximately $62,000. State Street Corp acquired a new stake in HawkEye 360 in the second quarter valued at approximately $1,658,000. HBK Investments L P acquired a new stake in HawkEye 360 in the second quarter valued at approximately $1,011,000. Tidal Investments LLC bought a new stake in shares of HawkEye 360 during the second quarter valued at approximately $5,260,000. Finally, Squarepoint Ops LLC bought a new stake in shares of HawkEye 360 during the second quarter valued at approximately $434,000.

About HawkEye 360

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.