Bridgeway Capital Management LLC Increases Stake in Backblaze, Inc. (NASDAQ:BLZE)

Bridgeway Capital Management LLC increased its position in shares of Backblaze, Inc. (NASDAQ:BLZE) by 36.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 111,400 shares of the company’s stock after buying an additional 30,000 shares during the period. Bridgeway Capital Management LLC’s holdings in Backblaze were worth $671,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in Backblaze by 15.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,780 shares of the company’s stock valued at $89,000 after purchasing an additional 1,992 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Backblaze by 2.6% during the fourth quarter. Bank of New York Mellon Corp now owns 84,440 shares of the company’s stock valued at $508,000 after purchasing an additional 2,105 shares in the last quarter. EntryPoint Capital LLC boosted its position in Backblaze by 20.8% during the fourth quarter. EntryPoint Capital LLC now owns 23,558 shares of the company’s stock valued at $142,000 after purchasing an additional 4,054 shares in the last quarter. Quantbot Technologies LP boosted its position in Backblaze by 60.6% during the fourth quarter. Quantbot Technologies LP now owns 11,648 shares of the company’s stock valued at $70,000 after purchasing an additional 4,393 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in Backblaze by 300.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,052 shares of the company’s stock valued at $42,000 after purchasing an additional 5,293 shares in the last quarter. Hedge funds and other institutional investors own 54.03% of the company’s stock.

Backblaze Stock Down 0.6%

NASDAQ BLZE opened at $5.22 on Monday. The business has a fifty day moving average price of $4.87 and a 200 day moving average price of $6.03. Backblaze, Inc. has a one year low of $3.94 and a one year high of $8.08. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market cap of $283.45 million, a P/E ratio of -4.70 and a beta of 1.03.

Analyst Ratings Changes

BLZE has been the topic of a number of recent research reports. Lake Street Capital dropped their price objective on Backblaze from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Needham & Company LLC started coverage on Backblaze in a report on Tuesday, March 11th. They issued a “buy” rating and a $8.00 price target for the company. Finally, B. Riley lowered their price target on Backblaze from $11.50 to $11.00 and set a “buy” rating for the company in a report on Tuesday, February 18th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $10.83.

Backblaze Company Profile

Backblaze, Inc, a storage cloud platform, provides businesses and consumers cloud services to store, use, and protect data in the United States and internationally. The company offers cloud services through a web-scale software infrastructure built on commodity hardware. It also provides Backblaze B2 Cloud Storage, which enables customers to store data, developers to build applications, and partners to expand their use cases.