The stock of Backblaze Inc (BLZE) has gone down by -13.34% for the week, with a -21.48% drop in the past month and a -13.73% drop in the past quarter. The volatility ratio for the week is 5.39%, and the volatility levels for the past 30 days are 5.44% for BLZE. The simple moving average for the past 20 days is -18.57% for BLZE’s stock, with a -24.92% simple moving average for the past 200 days.
Is It Worth Investing in Backblaze Inc (NASDAQ: BLZE) Right Now?
Company’s 36-month beta value is 0.94.Analysts have differing opinions on the stock, with 5 analysts rating it as a “buy,” 2 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for BLZE is 30.03M, and currently, short sellers hold a 3.56% ratio of that floaft. The average trading volume of BLZE on November 21, 2024 was 238.74K shares.
BLZE) stock’s latest price update
Backblaze Inc (NASDAQ: BLZE) has experienced a decline in its stock price by -8.75 compared to its previous closing price of 6.23. However, the company has seen a fall of -13.34% in its stock price over the last five trading days. businesswire.com reported 2024-11-21 that SAN MATEO, Calif.–(BUSINESS WIRE)–Backblaze, Inc. (Nasdaq: BLZE), the cloud storage innovator providing a modern alternative to traditional cloud providers, today announced the pricing of its upsized underwritten public offering of 6,250,000 shares of its Class A common stock (the “Common Stock”) at a price to the public of $5.60 per share. Closing of the offering is expected to occur on November 22, 2024, subject to customary closing conditions. In addition, Backblaze has granted the underwr.
Analysts’ Opinion of BLZE
Raymond James, on the other hand, stated in their research note that they expect to see BLZE reach a price target of $26. The rating they have provided for BLZE stocks is “Outperform” according to the report published on December 06th, 2021.
BLZE Trading at -15.77% from the 50-Day Moving Average
After a stumble in the market that brought BLZE to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -55.06% of loss for the given period.
Volatility was left at 5.44%, however, over the last 30 days, the volatility rate increased by 5.39%, as shares sank -20.64% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -3.21% lower at present.
During the last 5 trading sessions, BLZE fell by -12.65%, which changed the moving average for the period of 200-days by -34.89% in comparison to the 20-day moving average, which settled at $6.98. In addition, Backblaze Inc saw -25.10% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at BLZE starting from Budman Gleb, who sale 4,527 shares at the price of $6.45 back on Aug 23 ’24. After this action, Budman Gleb now owns 1,874,967 shares of Backblaze Inc, valued at $29,199 using the latest closing price.
Budman Gleb, the CEO and Chairperson of Backblaze Inc, sale 3,599 shares at $6.34 during a trade that took place back on Aug 21 ’24, which means that Budman Gleb is holding 1,882,976 shares at $22,818 based on the most recent closing price.
Stock Fundamentals for BLZE
Current profitability levels for the company are sitting at:
- -0.33 for the present operating margin
- 0.54 for the gross margin
The net margin for Backblaze Inc stands at -0.37. The total capital return value is set at -0.53. Equity return is now at value -100.93, with -33.59 for asset returns.
Based on Backblaze Inc (BLZE), the company’s capital structure generated 0.12 points at debt to capital in total, while cash flow to debt ratio is standing at 2.34. The debt to equity ratio resting at 0.13. The interest coverage ratio of the stock is -11.09.
Currently, EBITDA for the company is -31.02 million with net debt to EBITDA at -3.31. When we switch over and look at the enterprise to sales, we see a ratio of 2.39. The receivables turnover for the company is 44.38for trailing twelve months and the total asset turnover is 0.9. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.54.
Conclusion
In a nutshell, Backblaze Inc (BLZE) has experienced a bad performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
