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

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

Several other equities analysts have also recently commented on HAWK. 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. Jefferies Financial Group cut their price target 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. Bank of America upgraded shares of HawkEye 360 from a “neutral” rating to a “buy” rating and reduced their price target for the company from $34.00 to $23.00 in a research report on Thursday, September 17th. Berenberg Bank set a $24.00 price target on shares of HawkEye 360 and gave the stock a “buy” rating in a report on Wednesday, September 2nd. Finally, Weiss Ratings assumed coverage on shares of HawkEye 360 in a report on Friday, August 14th. They issued a “sell (d)” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.00.

HawkEye 360 Price Performance

Shares of NYSE:HAWK traded down $0.30 during trading on Wednesday, hitting $13.22. 344,289 shares of the company were exchanged, compared to its average volume of 1,226,068. HawkEye 360 has a 52-week low of $11.25 and a 52-week high of $35.73. The firm’s 50 day moving average is $16.11.

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 analysts’ consensus estimates of ($0.13) by $0.06. The company had revenue of $49.81 million for the quarter. On average, analysts expect that HawkEye 360 will post -0.67 earnings per share for the current fiscal year.

Insider Activity at HawkEye 360

In other HawkEye 360 news, CFO Craig Chih-Meng Searle sold 9,228 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $16.29, for a total value of $150,324.12. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 company’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $16.41, for a total transaction of $820,500.00. Following the completion of the transaction, the director owned 54,545 shares of the company’s stock, valued at $895,083.45. This trade represents a 47.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 178,063 shares of company stock valued at $2,766,317.

Hedge Funds Weigh In On HawkEye 360

A number of large investors have recently bought and sold shares of HAWK. State Street Corp purchased a new position in HawkEye 360 during the 2nd quarter valued at about $1,658,000. Tidal Investments LLC bought a new position in HawkEye 360 during the 2nd quarter valued at approximately $5,260,000. HBK Investments L P bought a new position in HawkEye 360 during the 2nd quarter valued at approximately $1,011,000. Alyeska Investment Group L.P. purchased a new stake in HawkEye 360 in the 2nd quarter worth approximately $5,358,000. Finally, State of Alaska Department of Revenue purchased a new stake in HawkEye 360 in the 3rd quarter worth approximately $62,000.

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.