AIGH Capital Management LLC Acquires Shares of 1,800,000 Backblaze, Inc. (NASDAQ:BLZE)

AIGH Capital Management LLC purchased a new stake in shares of Backblaze, Inc. (NASDAQ:BLZE) in the fourth quarter, Holdings Channel reports. The firm purchased 1,800,000 shares of the company’s stock, valued at approximately $10,836,000. Backblaze makes up about 3.4% of AIGH Capital Management LLC’s portfolio, making the stock its 12th biggest position.

Several other institutional investors have also added to or reduced their stakes in BLZE. JPMorgan Chase & Co. boosted its holdings in shares of Backblaze by 241.8% during the third quarter. JPMorgan Chase & Co. now owns 125,320 shares of the company’s stock worth $801,000 after purchasing an additional 88,652 shares during the period. State Street Corp lifted its holdings in Backblaze by 29.7% in the 3rd quarter. State Street Corp now owns 606,313 shares of the company’s stock worth $3,874,000 after buying an additional 138,917 shares during the period. Geode Capital Management LLC grew its position in shares of Backblaze by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 864,562 shares of the company’s stock worth $5,525,000 after buying an additional 21,593 shares during the last quarter. Barclays PLC increased its stake in shares of Backblaze by 124.4% during the third quarter. Barclays PLC now owns 78,205 shares of the company’s stock valued at $500,000 after buying an additional 43,354 shares during the period. Finally, Jane Street Group LLC bought a new position in shares of Backblaze during the third quarter valued at approximately $159,000. Hedge funds and other institutional investors own 54.03% of the company’s stock.

Analyst Ratings Changes

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 on the stock in a research report on Tuesday, February 18th. Needham & Company LLC began coverage on shares of Backblaze in a research report on Tuesday, March 11th. They set a “buy” rating and a $8.00 price target on the stock. Finally, Lake Street Capital lowered their price objective on shares of Backblaze from $12.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $10.83.

Backblaze Price Performance

Shares of BLZE opened at $4.97 on Friday. Backblaze, Inc. has a fifty-two week low of $4.90 and a fifty-two week high of $10.52. The firm’s 50-day simple moving average is $6.19 and its two-hundred day simple moving average is $6.46. The stock has a market cap of $269.87 million, a PE ratio of -4.48 and a beta of 0.89. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.54 and a current ratio of 0.54.

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.