Backblaze Inc (NASDAQ: BLZE): Reassessing Prospects

Backblaze Inc (BLZE) concluded trading on Thursday at a closing price of $5.63, with 3.54 million shares of worth about $19.92 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -16.96% during that period and on November 21, 2024 the price saw a loss of about -9.63%. Currently the company’s common shares owned by public are about 39.15M shares, out of which, 30.03M shares are available for trading.

Stock saw a price change of -14.18% in past 5 days and over the past one month there was a price change of -22.24%. Year-to-date (YTD), BLZE shares are showing a performance of -25.82% which decreased to -12.31% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $4.91 but also hit the highest price of $12.65 during that period. The average intraday trading volume for Backblaze Inc shares is 238.74K. The stock is currently trading -19.32% below its 20-day simple moving average (SMA20), while that difference is down -16.58% for SMA50 and it goes to -25.64% lower than SMA200.

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Backblaze Inc (NASDAQ: BLZE) currently have 39.15M outstanding shares and institutions hold larger chunk of about 37.13% of that.

The stock has a current market capitalization of $249.97M and its 3Y-monthly beta is at 0.94. It has posted earnings per share of -$1.11 in the same period. It has Quick Ratio of 0.54 while making debt-to-equity ratio of 1.15. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for BLZE, volatility over the week remained 6.37% while standing at 5.79% over the month.

Stock’s fiscal year EPS is expected to rise by 48.17% while it is estimated to increase by 51.62% in next year.

Coverage by Raymond James stated Backblaze Inc (BLZE) stock as an Outperform in their note to investors on December 06, 2021, suggesting a price target of $26 for the stock. On December 06, 2021, Oppenheimer Initiated their recommendations, while on December 06, 2021, Lake Street Initiated their ratings for the stock with a price target of $28. Stock get a Mkt outperform rating from JMP Securities on December 06, 2021.

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