HawkEye 360, Inc.’s Lock-Up Period To End on November 3rd (NYSE:HAWK)

HawkEye 360’s (NYSE:HAWK) lock-up period is set to end on Tuesday, November 3rd. HawkEye 360 had issued 16,000,000 shares in its public offering on May 7th. The total size of the offering was $416,000,000 based on an initial share price of $26.00. After the end of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on HAWK shares. Wall Street Zen lowered HawkEye 360 from a “hold” rating to a “sell” rating in a research note on Saturday, September 19th. Craig Hallum assumed coverage on shares of HawkEye 360 in a research note on Monday, July 27th. They set a “buy” rating and a $25.00 price objective for the company. Weiss Ratings began coverage on shares of HawkEye 360 in a report on Friday, August 14th. They set a “sell (d)” rating on the stock. Jefferies Financial Group decreased their target price on shares of HawkEye 360 from $34.00 to $31.00 and set a “buy” rating on the stock in a research report on Monday, August 17th. Finally, Bank of America raised shares of HawkEye 360 from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $34.00 to $23.00 in a research report on Thursday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

HawkEye 360 Price Performance

Shares of NYSE HAWK opened at $13.52 on Friday. The company’s fifty day moving average is $15.63. HawkEye 360 has a 52-week low of $11.25 and a 52-week high of $35.73.

HawkEye 360 (NYSE:HAWK) last issued its earnings results on Thursday, August 13th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.06. The firm had revenue of $49.81 million during the quarter. As a group, sell-side analysts expect that HawkEye 360 will post -0.67 EPS for the current fiscal year.

Insider Transactions at HawkEye 360

In other news, 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 completion of the sale, the insider owned 179,521 shares in the company, valued at approximately $2,915,421.04. The trade was a 9.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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, CFO Craig Chih-Meng Searle sold 9,228 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $16.29, for a total transaction of $150,324.12. Following the sale, the chief financial officer directly owned 209,228 shares of the company’s stock, valued at approximately $3,408,324.12. This trade represents a 4.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 178,063 shares of company stock valued at $2,766,317. Insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On HawkEye 360

A number of hedge funds have recently made changes to their positions in the business. State of Alaska Department of Revenue purchased a new stake in HawkEye 360 during the 3rd quarter worth $62,000. State Street Corp acquired a new stake in HawkEye 360 in the 2nd quarter valued at $1,658,000. HBK Investments L P acquired a new stake in HawkEye 360 in the 2nd quarter valued at $1,011,000. Tidal Investments LLC purchased a new position in HawkEye 360 in the second quarter valued at about $5,260,000. Finally, Squarepoint Ops LLC purchased a new position in HawkEye 360 in the second quarter valued at about $434,000.

HawkEye 360 Company Profile

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.