AIGH Capital Management LLC Has $9.95 Million Stake in Backblaze, Inc. $BLZE

AIGH Capital Management LLC raised its holdings in shares of Backblaze, Inc. (NASDAQ:BLZE) by 5.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,809,096 shares of the company’s stock after purchasing an additional 96,775 shares during the quarter. Backblaze accounts for approximately 4.5% of AIGH Capital Management LLC’s portfolio, making the stock its 8th largest position. AIGH Capital Management LLC’s holdings in Backblaze were worth $9,950,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. CWM LLC increased its stake in Backblaze by 81.1% during the 2nd quarter. CWM LLC now owns 8,957 shares of the company’s stock valued at $49,000 after purchasing an additional 4,012 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Backblaze by 27.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 261,610 shares of the company’s stock valued at $1,264,000 after purchasing an additional 55,720 shares in the last quarter. Rhumbline Advisers increased its stake in Backblaze by 10.7% during the 1st quarter. Rhumbline Advisers now owns 58,444 shares of the company’s stock valued at $282,000 after purchasing an additional 5,667 shares in the last quarter. Millennium Management LLC increased its stake in Backblaze by 32.5% during the 1st quarter. Millennium Management LLC now owns 825,422 shares of the company’s stock valued at $3,987,000 after purchasing an additional 202,609 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Backblaze by 17.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,094 shares of the company’s stock valued at $131,000 after purchasing an additional 4,060 shares in the last quarter. Institutional investors own 54.03% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on BLZE. Oppenheimer upped their target price on shares of Backblaze from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Friday. JMP Securities upped their target price on shares of Backblaze from $7.00 to $8.00 and gave the stock a “market outperform” rating in a research note on Friday, August 8th. Citizens Jmp began coverage on shares of Backblaze in a research note on Tuesday, June 24th. They issued a “strong-buy” rating and a $7.00 target price for the company. Needham & Company LLC upped their target price on shares of Backblaze from $7.00 to $8.50 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Backblaze in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $10.19.

Backblaze Price Performance

BLZE opened at $9.13 on Monday. The firm has a market cap of $515.85 million, a P/E ratio of -10.26 and a beta of 1.22. The firm has a 50-day moving average of $9.00 and a 200 day moving average of $6.52. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.08 and a current ratio of 1.08. Backblaze, Inc. has a fifty-two week low of $3.94 and a fifty-two week high of $10.83.

Backblaze (NASDAQ:BLZE) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.07). The business had revenue of $36.30 million for the quarter, compared to analysts’ expectations of $35.41 million. Backblaze had a negative net margin of 31.72% and a negative return on equity of 54.88%. Backblaze has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, research analysts expect that Backblaze, Inc. will post -1.02 EPS for the current year.

About Backblaze

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.