HawkEye 360’s (NYSE:HAWK – Get Free Report) lock-up period is set to 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. After the expiration of HawkEye 360’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on HAWK shares. Craig Hallum assumed coverage on shares of HawkEye 360 in a research note on Monday, July 27th. They issued a “buy” rating and a $25.00 price target for the company. 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 research report on Monday, August 17th. Berenberg Bank initiated coverage on shares of HawkEye 360 in a research note on Wednesday, September 2nd. They issued a “buy” rating and a $24.00 price objective on the stock. Weiss Ratings began coverage on HawkEye 360 in a research note on Friday, August 14th. They issued a “sell (d)” rating on the stock. Finally, Bank of America upgraded shares of HawkEye 360 from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $34.00 to $23.00 in a research report on Thursday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.00.
Read Our Latest Analysis on HAWK
HawkEye 360 Stock Down 0.2%
Shares of HawkEye 360 stock opened at $13.52 on Monday. The firm has a market capitalization of $1.32 billion and a P/E ratio of -26.00. The firm’s 50-day simple moving average is $15.63. HawkEye 360 has a 1-year low of $11.25 and a 1-year high of $35.73.
HawkEye 360 (NYSE:HAWK – Get Free Report) 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 company had revenue of $49.81 million during the quarter. As a group, sell-side analysts expect that HawkEye 360 will post -0.67 earnings per share for the current year.
Insider Activity
In other news, CEO John Serafini sold 92,329 shares of the firm’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $14.78, for a total value of $1,364,622.62. Following the transaction, the chief executive officer directly owned 554,972 shares in the company, valued at $8,202,486.16. This trade represents a 14.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Turner sold 18,256 shares of the 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 transaction, the insider owned 179,521 shares of the company’s stock, valued at approximately $2,915,421.04. This represents a 9.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Over the last three months, insiders have sold 178,063 shares of company stock worth $2,766,317.
Hedge Funds Weigh In On HawkEye 360
Hedge funds and other institutional investors have recently modified their holdings of the stock. State of Alaska Department of Revenue purchased a new stake in shares of HawkEye 360 during the third quarter valued at approximately $62,000. Squarepoint Ops LLC purchased a new position in shares of HawkEye 360 in the 2nd quarter worth $434,000. Readystate Asset Management LP bought a new stake in shares of HawkEye 360 in the 2nd quarter worth about $455,000. HBK Investments L P purchased a new position in HawkEye 360 in the 2nd quarter worth about $1,011,000. Finally, State Street Corp bought a new position in shares of HawkEye 360 during the 2nd quarter worth $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.
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