Piper Sandler Upgrades HawkEye 360 (NYSE:HAWK) to Strong-Buy

HawkEye 360 (NYSE:HAWK) was upgraded by equities research analysts at Piper Sandler to a “strong-buy” rating in a research report issued to clients and investors on Thursday, Zacks reports.

Several other equities research analysts also recently weighed in on HAWK. Jefferies Financial Group dropped their target price on shares of HawkEye 360 from $34.00 to $31.00 and set a “buy” rating for the company in a research report on Monday, August 17th. Wall Street Zen cut shares of HawkEye 360 from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th. Berenberg Bank set a $24.00 price target on HawkEye 360 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. Royal Bank Of Canada decreased their price target on HawkEye 360 from $33.00 to $28.00 and set an “outperform” rating for the company in a research note on Wednesday, September 30th. Finally, Weiss Ratings started coverage on HawkEye 360 in a report on Friday, August 14th. They issued a “sell (d)” rating for the company. Three equities research 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, HawkEye 360 presently 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. The company has a fifty day moving average of $17.90. HawkEye 360 has a 12-month low of $12.09 and a 12-month high of $35.73.

HawkEye 360 (NYSE:HAWK) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.06. The company had revenue of $49.81 million for the quarter. As a group, equities research analysts anticipate that HawkEye 360 will post -0.01 EPS for the current fiscal year.

Insider Transactions at HawkEye 360

In related news, 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 transaction, the insider directly owned 179,521 shares in the company, valued at $2,915,421.04. This trade represents a 9.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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. Also, 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 owned 54,545 shares in the company, valued at $895,083.45. This trade represents a 47.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 178,063 shares of company stock valued at $2,766,317. 3.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Alyeska Investment Group L.P. bought a new position in shares of HawkEye 360 in the 2nd quarter worth about $5,358,000. Tidal Investments LLC acquired a new position in shares of HawkEye 360 in the 2nd quarter valued at about $5,260,000. State Street Corp acquired a new position in shares of HawkEye 360 in the 2nd quarter valued at about $1,658,000. HBK Investments L P bought a new stake in shares of HawkEye 360 during the 2nd quarter valued at about $1,011,000. Finally, Readystate Asset Management LP bought a new stake in shares of HawkEye 360 during the 2nd quarter valued at about $455,000.

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.