GSA Capital Partners LLP Has $1.39 Million Holdings in Backblaze, Inc. $BLZE

GSA Capital Partners LLP increased its stake in shares of Backblaze, Inc. (NASDAQ:BLZE) by 159.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 299,218 shares of the company’s stock after purchasing an additional 184,015 shares during the period. GSA Capital Partners LLP’s holdings in Backblaze were worth $1,394,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Backblaze by 8.2% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,323 shares of the company’s stock worth $161,000 after purchasing an additional 2,229 shares during the period. Cerity Partners LLC grew its stake in shares of Backblaze by 3.6% during the second quarter. Cerity Partners LLC now owns 109,001 shares of the company’s stock worth $600,000 after purchasing an additional 3,763 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Backblaze by 31.8% during the second quarter. The Manufacturers Life Insurance Company now owns 19,292 shares of the company’s stock worth $106,000 after purchasing an additional 4,650 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Backblaze by 10.0% during the third quarter. Russell Investments Group Ltd. now owns 60,912 shares of the company’s stock worth $565,000 after purchasing an additional 5,523 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in shares of Backblaze by 13.9% during the second quarter. BNP Paribas Financial Markets now owns 56,245 shares of the company’s stock worth $309,000 after purchasing an additional 6,867 shares during the period. 54.03% of the stock is owned by institutional investors and hedge funds.

Backblaze Stock Performance

BLZE stock opened at $7.43 on Thursday. The business’s 50-day moving average price is $4.63 and its two-hundred day moving average price is $4.77. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.28. The firm has a market cap of $446.54 million, a PE ratio of -19.05 and a beta of 1.41. Backblaze, Inc. has a 1-year low of $3.26 and a 1-year high of $10.86.

Backblaze (NASDAQ:BLZE) last posted its earnings results on Monday, May 4th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.02. The firm had revenue of $38.67 million for the quarter, compared to analyst estimates of $37.78 million. Backblaze had a negative return on equity of 20.54% and a negative net margin of 14.97%. As a group, research analysts forecast that Backblaze, Inc. will post -0.33 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BLZE. Lake Street Capital lifted their price objective on Backblaze from $8.00 to $11.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. B. Riley Financial raised Backblaze to a “strong-buy” rating in a research note on Thursday, April 2nd. Oppenheimer decreased their price objective on Backblaze from $9.50 to $8.50 and set an “outperform” rating for the company in a research note on Tuesday, February 24th. Craig Hallum cut Backblaze from a “buy” rating to a “hold” rating and set a $4.50 price objective for the company. in a research note on Tuesday, February 24th. Finally, Citigroup reiterated a “market outperform” rating on shares of Backblaze in a report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $8.00.

Backblaze 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. This service is offered as a consumption-based Infrastructure-as-a-Service (IaaS) and serves use cases, such as public, hybrid, and multi-cloud data storage; application development and DevOps; content delivery and edge computing; security and ransomware protection; media management; backup, archive, and tape replacement; repository for analytics, artificial intelligence and machine learning; and Internet of Things.