HawkEye 360 (NYSE:HAWK) Raised to Buy at Bank of America

HawkEye 360 (NYSE:HAWK) was upgraded by analysts at Bank of America from a “neutral” rating to a “buy” rating in a report issued on Thursday, Benzinga reports. The firm currently has a $23.00 price objective on the stock, down from their prior price objective of $34.00. Bank of America‘s price objective points to a potential upside of 41.98% from the stock’s current price.

Several other research analysts have also recently weighed in on the stock. UBS Group set a $42.00 price objective on shares of HawkEye 360 in a research report on Monday, June 1st. Zacks Research upgraded HawkEye 360 to a “hold” rating in a research report on Tuesday, June 2nd. 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. Wall Street Zen upgraded HawkEye 360 from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Finally, Morgan Stanley initiated coverage on HawkEye 360 in a report on Monday, June 1st. They set an “overweight” rating and a $41.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $34.20.

HawkEye 360 Stock Performance

Shares of NYSE:HAWK opened at $16.20 on Thursday. HawkEye 360 has a 12 month low of $15.71 and a 12 month high of $35.73. The stock’s 50-day moving average is $20.20.

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 company had revenue of $49.81 million during the quarter. Analysts expect that HawkEye 360 will post -0.01 earnings per share for the current fiscal year.

Insider Buying and Selling at HawkEye 360

In other news, Director Arthur Money sold 50,000 shares of the firm’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $16.41, for a total value of $820,500.00. Following the transaction, the director directly owned 54,545 shares in the company, valued at $895,083.45. This trade represents a 47.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On HawkEye 360

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