Backblaze Inc (NASDAQ:BLZE) shares, rose in value on Friday, March 28, with the stock price down by -4.42% to the previous day’s close as strong demand from buyers drove the stock to $4.97.
Actively observing the price movement in the last trading, the stock closed the session at $5.20, falling within a range of $4.895 and $5.17. The value of beta (5-year monthly) was 0.895. Referring to stock’s 52-week performance, its high was $10.52, and the low was $4.91. On the whole, BLZE has fluctuated by -23.07% over the past month.
With the market capitalization of Backblaze Inc currently standing at about $269.87 million, investors are eagerly awaiting this quarter’s results, scheduled for on 2025-Feb-24.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 145.03M, with a low estimate of 34.1M and a high estimate of 34.37M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 34.24M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that BLZE’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium-term indicators have put the stock in the category of 100% Sell while long-term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the price of BLZE currently trading nearly -8.28% and -19.36% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 34.91, while the 7-day volatility ratio is showing 4.41% which for the 30-day chart, stands at 5.76%. Furthermore, Backblaze Inc (BLZE)’s beta value is 0.97, and its average true range (ATR) is 0.32.
A comparison of Backblaze Inc (BLZE) with its peers suggests the former has fared considerably weaker in the market. BLZE showed an intraday change of -4.42% in last session, and over the past year, it shrunk by -49.80%%.
Data on historical trading for Backblaze Inc (NASDAQ:BLZE) indicates that the trading volumes over the past 10 days have averaged 0.43 and over the past 3 months, they’ve averaged 422.80K. According to company’s latest data on outstanding shares, there are 53.38 million shares outstanding.
Nearly 28.68% of Backblaze Inc’s shares belong to company insiders and institutional investors own 42.91% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 0.59 million shares as on 2025-03-14, resulting in a short ratio of 0.89. According to the data, the short interest in Backblaze Inc (BLZE) stood at 112.00 of shares outstanding as of 2025-03-14; the number of short shares registered in 2025-02-14 reached 0.47 million. The stock has fallen by -17.44% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the BLZE stock heading into the next quarter.
