Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Backblaze Inc shares valued at $29,199 were sold by Budman Gleb on Aug 23 ’24. At $6.45 per share, Budman Gleb sold 4,527 shares. The insider’s holdings dropped to 1,874,967 shares worth approximately $10.56 million following the completion of this transaction.
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Also, Budman Gleb sold 3,599 shares, netting a total of over 22,818 in proceeds. Following the sale of shares at $6.34 each, the insider now holds 1,882,976 shares.
Before that, Budman Gleb had sold 3,482 shares from its account. In a trade valued at $21,658, the CEO and Chairperson traded Backblaze Inc shares for $6.22 each. Upon closing the transaction, the insider’s holdings decreased to 3,482 shares, worth approximately $10.58 million.
As published in their initiating research note from William Blair on December 06, 2021, Backblaze Inc [BLZE] has been an Outperform. Analysts at Raymond James started covering the stock with ‘”an Outperform”‘ outlook in a report released in early December. As of December 06, 2021, Oppenheimer has initiated its “an Outperform” rating for BLZE. Earlier on December 06, 2021, Lake Street initiated its rating. Their recommendation was “a Buy” for BLZE stock.
Analyzing BLZE Stock Performance
During the last five days, there has been a drop of approximately -14.18%. Over the course of the year, Backblaze Inc shares have dropped approximately -25.82%. Shares of the company reached a 52-week high of $12.65 on 03/08/24 and a 52-week low of $4.91 on 08/06/24. A 50-day SMA is recorded $6.75, while a 200-day SMA reached $7.57. Nevertheless, trading volume fell to 3.54 million shares from 0.22 million shares the previous day.
Support And Resistance Levels for Backblaze Inc (BLZE)
According to the 24-hour chart, there is a support level at 5.40, which, if violated, would cause prices to drop to 5.18. In the upper region, resistance lies at 5.95. The next price resistance is at 6.28. RSI (Relative Strength Index) is 29.14 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.78, which suggests the price will decrease in the coming days. Percent R is at 94.96%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
