HawkEye 360 (NYSE:HAWK) Trading Down 5.7% After Insider Selling

HawkEye 360, Inc. (NYSE:HAWK) fell 5.7% during trading 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 mid-day 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 business’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $16.29, for a total value 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. The trade was a 4.22% decrease in their ownership of the stock. The sale was disclosed in a 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 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 sale, the insider directly owned 179,521 shares in the company, valued at $2,915,421.04. This represents a 9.23% decrease in their position. 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. In other HawkEye 360 news, insider Michael Turner sold 8,250 shares of HawkEye 360 stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $16.29, for a total value of $134,392.50. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. William Blair initiated coverage on HawkEye 360 in a report on Monday, June 1st. They set an “outperform” rating on the stock. UBS Group set a $42.00 price objective on shares of HawkEye 360 in a research note on Monday, June 1st. Craig Hallum started coverage on shares of HawkEye 360 in a report on Monday, July 27th. They issued a “buy” rating and a $25.00 target price on the stock. Weiss Ratings began coverage on shares of HawkEye 360 in a research report on Friday, August 14th. They issued a “sell (d)” rating for the company. Finally, Royal Bank Of Canada decreased their target price on 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 analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, HawkEye 360 has a consensus rating of “Moderate Buy” and a consensus target price of $34.20.

HawkEye 360 News Roundup

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 Stock Down 5.7%

The stock’s fifty day simple moving average is $20.14.

HawkEye 360 (NYSE:HAWK) last announced its earnings results on Thursday, August 13th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.06. The company had revenue of $49.81 million for the quarter. Equities research analysts forecast that HawkEye 360, Inc. will post -0.01 EPS for the current fiscal year.

Hedge Funds Weigh In On HawkEye 360

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

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.