HawkEye 360 (NYSE:HAWK) Given New $21.00 Price Target at Royal Bank Of Canada

HawkEye 360 (NYSE:HAWK) had its price objective lowered by investment analysts at Royal Bank Of Canada from $28.00 to $21.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada‘s price target would indicate a potential upside of 58.85% from the company’s previous close.

Several other analysts have also commented on HAWK. 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 report on Monday, August 17th. Piper Sandler started coverage on HawkEye 360 in a report on Thursday, October 15th. They set an “overweight” rating and a $22.00 target price on the stock. Wall Street Zen lowered HawkEye 360 from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th. Weiss Ratings began coverage on HawkEye 360 in a research report on Friday, August 14th. They issued a “sell (d)” rating for the company. Finally, Craig Hallum began coverage on HawkEye 360 in a research report on Monday, July 27th. They set a “buy” rating and a $25.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, HawkEye 360 currently has a consensus rating of “Moderate Buy” and an average target price of $32.00.

HawkEye 360 Trading Down 2.2%

Shares of NYSE:HAWK traded down $0.30 on Wednesday, hitting $13.22. The company had a trading volume of 344,289 shares, compared to its average volume of 1,226,068. The stock’s 50-day moving average is $16.11. HawkEye 360 has a 1 year low of $11.25 and a 1 year high of $35.73.

HawkEye 360 (NYSE:HAWK) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.06. The company had revenue of $49.81 million for the quarter. Equities analysts forecast that HawkEye 360 will post -0.67 EPS for the current fiscal year.

Insider Buying and Selling at HawkEye 360

In related news, CFO Craig Chih-Meng Searle sold 9,228 shares of the business’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $16.29, for a total transaction of $150,324.12. Following the sale, the chief financial officer owned 209,228 shares of the company’s stock, valued at $3,408,324.12. The trade was a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 business’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $16.24, for a total transaction of $296,477.44. Following the sale, the insider directly owned 179,521 shares in the company, valued at $2,915,421.04. The trade was a 9.23% decrease in their position. 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. Insiders sold 178,063 shares of company stock valued at $2,766,317 over the last 90 days.

Hedge Funds Weigh In On HawkEye 360

Several large investors have recently made changes to their positions in the business. State of Alaska Department of Revenue bought a new stake in shares of HawkEye 360 in the 3rd quarter worth approximately $62,000. Squarepoint Ops LLC purchased a new stake in shares of HawkEye 360 in the 2nd quarter worth approximately $434,000. Readystate Asset Management LP bought a new position in HawkEye 360 during the 2nd quarter valued at approximately $455,000. HBK Investments L P bought a new position in HawkEye 360 during the 2nd quarter valued at approximately $1,011,000. Finally, State Street Corp purchased a new position in HawkEye 360 during the second quarter valued at $1,658,000.

About HawkEye 360

HawkEye 360 is a geospatial intelligence company that uses satellite-based radio-frequency (RF) data to detect, geolocate, characterize and monitor signals emitted by devices and systems on Earth. Its technology can help identify activity that may not be visible through conventional optical imagery, supporting awareness of maritime, terrestrial and airborne environments.

The company operates a commercial satellite constellation in coordinated formations and combines RF observations with cloud-based processing, analytics and other geospatial data.