HawkEye 360 (NYSE:HAWK) Stock Gets Price Target Cut from Royal Bank Of Canada

HawkEye 360 (NYSE:HAWK) had its target price reduced by Royal Bank Of Canada from $28.00 to $21.00 in a report released on Wednesday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

Several other research firms have also recently issued reports on HAWK. Craig Hallum started coverage on HawkEye 360 in a research note on Monday, July 27th. They issued a “buy” rating and a $25.00 price target for the company. Piper Sandler initiated coverage on shares of HawkEye 360 in a research note on Thursday, October 15th. They set an “overweight” rating and a $22.00 price objective on the stock. Berenberg Bank initiated coverage on shares of HawkEye 360 in a report on Wednesday, September 2nd. They issued a “buy” rating and a $24.00 price objective for the company. 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, Bank of America raised shares of HawkEye 360 from a “neutral” rating to a “buy” rating and lowered their target price for the company from $34.00 to $23.00 in a research note on Thursday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, HawkEye 360 has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

HawkEye 360 Trading Down 4.9%

Shares of NYSE:HAWK opened at $13.52 on Wednesday. The company has a 50 day moving average price of $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 quarterly earnings data on Thursday, August 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.06. The business had revenue of $49.81 million for the quarter. Sell-side analysts predict that HawkEye 360 will post -0.67 EPS for the current year.

Insider Buying and Selling

In related news, insider Michael Turner sold 18,256 shares of HawkEye 360 stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $16.24, for a total value of $296,477.44. Following the transaction, the insider owned 179,521 shares of the company’s stock, valued at approximately $2,915,421.04. This trade represents a 9.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed 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, CFO Craig Chih-Meng Searle sold 9,228 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $16.29, for a total value of $150,324.12. Following the sale, the chief financial officer owned 209,228 shares in the company, valued at approximately $3,408,324.12. The trade was 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 90 days, insiders sold 178,063 shares of company stock worth $2,766,317. Company insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On HawkEye 360

A number of large investors have recently made changes to their positions in the company. State of Alaska Department of Revenue acquired a new position in HawkEye 360 during the third quarter valued at $62,000. Squarepoint Ops LLC acquired a new stake in HawkEye 360 during the 2nd quarter worth about $434,000. Readystate Asset Management LP acquired a new stake in HawkEye 360 during the 2nd quarter worth about $455,000. HBK Investments L P acquired a new stake in HawkEye 360 during the 2nd quarter worth about $1,011,000. Finally, State Street Corp purchased a new position in HawkEye 360 during the 2nd quarter valued at about $1,658,000.

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.