Dynamic Technology Lab Private Ltd Acquires 17,914 Shares of Backblaze, Inc. (NASDAQ:BLZE)

Dynamic Technology Lab Private Ltd grew its stake in shares of Backblaze, Inc. (NASDAQ:BLZE) by 148.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 30,014 shares of the company’s stock after purchasing an additional 17,914 shares during the period. Dynamic Technology Lab Private Ltd owned about 0.07% of Backblaze worth $181,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. R Squared Ltd purchased a new position in shares of Backblaze during the fourth quarter valued at approximately $38,000. Quantbot Technologies LP boosted its holdings in Backblaze by 60.6% during the 4th quarter. Quantbot Technologies LP now owns 11,648 shares of the company’s stock worth $70,000 after acquiring an additional 4,393 shares during the last quarter. Verition Fund Management LLC grew its stake in shares of Backblaze by 15.4% in the 3rd quarter. Verition Fund Management LLC now owns 15,800 shares of the company’s stock worth $101,000 after acquiring an additional 2,106 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Backblaze in the fourth quarter valued at about $114,000. Finally, Virtu Financial LLC bought a new position in shares of Backblaze during the fourth quarter valued at about $117,000. 54.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Backblaze Trading Up 1.1 %

Shares of BLZE stock opened at $4.56 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.39. The firm has a market cap of $247.61 million, a P/E ratio of -4.11 and a beta of 1.02. The company has a 50 day moving average of $5.81 and a 200-day moving average of $6.34. Backblaze, Inc. has a 12-month low of $4.07 and a 12-month high of $10.00.

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.