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

HawkEye 360’s (NYSE:HAWK) lock-up period will expire 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. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the end of the lock-up period.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HAWK. Wall Street Zen cut shares of HawkEye 360 from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th. Bank of America upgraded HawkEye 360 from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $34.00 to $23.00 in a research note on Thursday, September 17th. Berenberg Bank set a $24.00 target price on HawkEye 360 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. Jefferies Financial Group decreased their target price on HawkEye 360 from $34.00 to $31.00 and set a “buy” rating for the company in a report on Monday, August 17th. Finally, Craig Hallum assumed coverage on HawkEye 360 in a report on Monday, July 27th. They set a “buy” rating and a $25.00 target price for the company. Two 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 stock. Based on data from MarketBeat.com, HawkEye 360 has a consensus rating of “Moderate Buy” and an average target price of $32.00.

HawkEye 360 Stock Down 2.0%

Shares of HAWK stock opened at $13.25 on Thursday. HawkEye 360 has a 12-month low of $11.25 and a 12-month high of $35.73. The stock has a market capitalization of $1.30 billion and a P/E ratio of -25.48. The business’s 50 day simple moving average is $15.94.

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

Insider Transactions at HawkEye 360

In other news, insider Michael S. Turner sold 18,256 shares of the business’s stock in a transaction that occurred 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. The trade was a 9.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 firm’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $16.29, for a total value of $150,324.12. Following the completion of the sale, the chief financial officer directly owned 209,228 shares of the company’s stock, valued at $3,408,324.12. This trade represents a 4.22% decrease in their ownership of the stock. 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 quarter, insiders have sold 178,063 shares of company stock worth $2,766,317.

Hedge Funds Weigh In On HawkEye 360

A number of hedge funds have recently modified their holdings of HAWK. State of Alaska Department of Revenue purchased a new position in HawkEye 360 during the third quarter worth about $62,000. State Street Corp purchased a new stake in shares of HawkEye 360 during the second quarter worth $1,658,000. HBK Investments L P purchased a new stake in HawkEye 360 during the 2nd quarter worth about $1,011,000. Tidal Investments LLC purchased a new stake in shares of HawkEye 360 during the second quarter worth approximately $5,260,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of HawkEye 360 in the 2nd quarter valued at $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.