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Analyzing Backblaze Inc (BLZE) After Recent Trading Activity

Backblaze Inc’s recently made public that its Senior VP, Engineering Cessna Tina unloaded Company’s shares for reported $26100.0 on Mar 27 ’24. In the deal valued at $10.00 per share,2,610 shares were sold. As a result of this transaction, Cessna Tina now holds 121,083 shares worth roughly $0.88 million.

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Then, Cessna Tina sold 20,000 shares, generating $199,000 in total proceeds. Upon selling the shares at $9.95, the Senior VP, Engineering now owns 121,083 shares.

Before that, Cessna Tina sold 20,000 shares. Backblaze Inc shares valued at $200,600 were divested by the Senior VP, Engineering at a price of $10.03 per share. As a result of the transaction, Cessna Tina now holds 121,083 shares, worth roughly $0.88 million.

William Blair initiated its Backblaze Inc [BLZE] rating to an Outperform in a research note published recently. A number of analysts have revised their coverage, including Raymond James’s analysts, who began to cover the stock in early December with a ‘”an Outperform”‘ rating. Oppenheimer began covering BLZE with “an Outperform” recommendation on December 06, 2021. Lake Street started covering the stock on December 06, 2021. It rated BLZE as “a Buy”.

Price Performance Review of BLZE

On Friday, Backblaze Inc [NASDAQ:BLZE] saw its stock fall -3.33% to $7.25. Over the last five days, the stock has lost -22.79%. Backblaze Inc shares have fallen nearly -4.48% since the year began. Nevertheless, the stocks have risen 75.97% over the past one year. While a 52-week high of $12.65 was reached on 03/08/24, a 52-week low of $3.50 was recorded on 01/19/24. SMA at 50 days reached $9.91, while 200 days put it at $7.49. A total of 0.76 million shares were traded, compared to the trading of 2.22 million shares in the previous session.

Levels Of Support And Resistance For BLZE Stock

The 24-hour chart illustrates a support level at 6.96, which if violated will result in even more drops to 6.68. On the upside, there is a resistance level at 7.63. A further resistance level may holdings at 8.02. The Relative Strength Index (RSI) on the 14-day chart is 24.89, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.89, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 93.57%. Stochastics %K at 35.40% indicates the stock is a holding.

The most recent change occurred on December 06, 2021 when JMP Securities began covering the stock and recommended ‘”a Mkt outperform”‘ rating along with a $30 price target.

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