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Backblaze Inc
Buy, Hold or Sell?

Let's analyze Backblaze together

I guess you are interested in Backblaze Inc. Buy, hold or sell? I don't know! However, I do recommend doing research before doing anything. I will help you with that.

I'm going to help you getting a better view of Backblaze Inc. At the end you don't have to ask anyone for trading advice. You can make your own decision, with more confidence, the odds in your favor, backed by data.

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1. Quick Overview

1.1. Quick analysis of Backblaze (30 sec.)










1.2. What can you expect buying and holding a share of Backblaze? (30 sec.)

How much money do you get?

How much money do you get?
$0.00
When do you have the money?
1 year
How often do you get paid?
0.0%

What is your share worth?

Current worth
$1.05
Expected worth in 1 year
$0.84
How sure are you?
12.5%

+ What do you gain per year?

Total Gains per Share
$-0.21
Return On Investment
-2.9%

For what price can you sell your share?

Current Price per Share
$7.33
Expected price per share
$6.525 - $10
How sure are you?
50%
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2. Detailed Analysis

2.1. Valuation of Backblaze (5 min.)




Live pricePrice per Share (EOD)
$7.33
Intrinsic Value Per Share
$-2.07 - $-2.28
Total Value Per Share
$-1.02 - $-1.23

2.2. Growth of Backblaze (5 min.)




Is Backblaze growing?

Current yearPrevious yearGrowGrow %
How rich?$45m$64.9m-$18.7m-40.6%

How much money is Backblaze making?

Current yearPrevious yearGrowGrow %
Making money-$12.2m-$15m$2.8m23.1%
Net Profit Margin-43.2%-64.6%--

How much money comes from the company's main activities?

2.3. Financial Health of Backblaze (5 min.)




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3. Summary and Key Metrics

3.1. What can you expect buying and holding a share of Backblaze?

Welcome investor! Backblaze's management wants to use your money to grow the business. In return you get a share of Backblaze.

First you should know what it really means to hold a share of Backblaze. And how you can make/lose money.

Speculation

The Price per Share of Backblaze is $7.33. The market price reflects what other people think it is worth; not what it's really worth. Your job is to find out if the market price is fair, overpriced, or underpriced. I will help you with that.

If you buy blind, there is a 50% chance of making or losing money by selling the stock in the future. However, we can look at a few things to determine the odds in our favor:

  • The fundamentals: the financial health trends of Backblaze.
  • The technials: based on market psychology, we can make a calculated estimate of what the price will do in the future. We can do this through technical analysis. We can calculate the probabilities and the expected value (millionaire math). That's called speculation.
  • The book value: what is the market price compared to it's book value.

Investing

If you really want to invest in Backblaze, you will have to let go of the thought of selling in the future. If you have to sell the share for less than you bought it, it can still be a good investment. Focus on what it means to hold the stock forever:

  • You own a part of the company. The equity of this part can grow or shrink. The current Book Value per Share is $1.05. Based on the TTM, the Book Value Change Per Share is $-0.05 per quarter. Based on the YOY, the Book Value Change Per Share is $-0.17 per quarter.
  • You may receive quarterly/yearly dividend in the form of additional shares.
  • You may receive quarterly/yearly dividend in the form of cash. Based on the TTM the Dividend per Share is $0.00 per quarter.
Based on historical numbers we can estimate the returns while holding a share of Backblaze.

How much money are you going to get?

 MRQTTMYOY5Y10Y
 $% of Price per Share$% of Price per Share$% of Price per Share$% of Price per Share$% of Price per Share
Usd Eps-0.24-3.3%-0.28-3.9%-0.34-4.7%-0.23-3.2%-0.23-3.2%
Usd Book Value Change Per Share-0.05-0.7%-0.05-0.7%-0.17-2.3%0.070.9%0.070.9%
Usd Dividend Per Share0.000.0%0.000.0%0.000.0%0.000.0%0.000.0%
Usd Total Gains Per Share-0.05-0.7%-0.05-0.7%-0.17-2.3%0.070.9%0.070.9%
Usd Price Per Share6.16-7.37-5.13-5.17-5.17-
Price to Earnings Ratio-6.38--6.79--3.76--4.69--4.69-
Price-to-Total Gains Ratio-112.13--26.70--30.57--29.93--29.93-
Price to Book Ratio5.86-6.83-3.41-3.53-3.53-
Price-to-Total Gains Ratio-112.13--26.70--30.57--29.93--29.93-

When do you get the money?

Usd Investment
$.00
Usd Price Per Share7.33
Number of shares136
Gains per QuarterTrailing 12 Months5 Year
Usd Dividend Per Share0.000.00
Usd Book Value Change Per Share-0.050.07
Usd Total Gains Per Share-0.050.07
Gains per Quarter (136 shares)-7.208.94
Gains per Year (136 shares)-28.8235.75
YearsReturn on Investment (TTM)Return on Investment (5Y)
 DividendBook Value gainTotal gainsDividendBook Value gainTotal gains
Broker costs---10---10
10-29-3903626
20-58-6807262
30-86-97010798
40-115-1260143134
50-144-1550179170
60-173-1840215206
70-202-2130250242
80-231-2420286278
90-259-2710322314
100-288-3000358350

How sure are you?

Based on the past periods, how sure are you to get value out of your investment.

Linear %
 Trailing 12 Months3Y5 Year10 YearALLTIME
  % % % % %
Earnings Per Share0.04.00.00.0%0.012.00.00.0%0.016.00.00.0%0.016.00.00.0%0.016.00.00.0%
Book Value Change Per Share1.03.00.025.0%2.010.00.016.7%2.012.02.012.5%2.012.02.012.5%2.012.02.012.5%
Dividend per Share0.00.04.00.0%0.00.012.00.0%0.00.016.00.0%0.00.016.00.0%0.00.016.00.0%
Total Gains per Share1.03.00.025.0%2.010.00.016.7%2.012.02.012.5%2.012.02.012.5%2.012.02.012.5%
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3.2. Key Performance Indicators

The key performance indicators of Backblaze Inc compared to the Most Recent Quarter (MRQ).

 End of day+/-Most Recent QuarterTrailing 12 Months+/-Year-Over-Year+/-5 Year+/-10 Year+/-
Book Value Change Per Share---0.055-0.053-4%-0.168+206%0.066-184%0.066-184%
Book Value Per Share--1.0521.078-2%1.515-31%0.979+7%0.979+7%
Current Ratio--0.6120.680-10%1.212-49%0.913-33%0.913-33%
Debt To Asset Ratio--0.6470.6490%0.558+16%0.681-5%0.681-5%
Debt To Equity Ratio--1.8331.847-1%1.274+44%0.938+95%0.938+95%
Dividend Per Share----0%-0%-0%-0%
Eps---0.241-0.285+18%-0.344+43%-0.233-4%-0.233-4%
Free Cash Flow Per Share---0.031-0.041+30%-0.230+631%-0.092+194%-0.092+194%
Free Cash Flow To Equity Per Share---0.104-0.090-14%-0.263+153%0.026-493%0.026-493%
Gross Profit Margin--2.0621.876+10%1.666+24%1.906+8%1.906+8%
Intrinsic Value_10Y_max---2.277--------
Intrinsic Value_10Y_min---2.068--------
Intrinsic Value_1Y_max---0.452--------
Intrinsic Value_1Y_min---0.444--------
Intrinsic Value_3Y_max---1.187--------
Intrinsic Value_3Y_min---1.136--------
Intrinsic Value_5Y_max---1.717--------
Intrinsic Value_5Y_min---1.608--------
Market Cap314356579.000+16%264179608.000316072031.000-16%219792287.500+20%221856190.688+19%221856190.688+19%
Net Profit Margin---0.331-0.432+31%-0.646+95%-0.446+35%-0.446+35%
Operating Margin---0.314-0.393+25%-0.615+96%-0.424+35%-0.424+35%
Operating Ratio--1.3141.393-6%1.609-18%1.404-6%1.404-6%
Pb Ratio6.971+16%5.8586.832-14%3.409+72%3.530+66%3.530+66%
Pe Ratio-7.595-19%-6.382-6.786+6%-3.756-41%-4.687-27%-4.687-27%
Price Per Share7.330+16%6.1607.370-16%5.125+20%5.173+19%5.173+19%
Price To Free Cash Flow Ratio-58.214-19%-48.922-118.851+143%-5.712-88%-37.270-24%-37.270-24%
Price To Total Gains Ratio-133.428-19%-112.131-26.703-76%-30.572-73%-29.935-73%-29.935-73%
Quick Ratio--0.7950.868-8%1.957-59%1.303-39%1.303-39%
Return On Assets---0.081-0.093+14%-0.103+28%-0.079-2%-0.079-2%
Return On Equity---0.229-0.264+15%-0.237+3%-0.149-35%-0.149-35%
Total Gains Per Share---0.055-0.053-4%-0.168+206%0.066-184%0.066-184%
Usd Book Value--45098000.00046212000.000-2%64958500.000-31%41975750.000+7%41975750.000+7%
Usd Book Value Change Per Share---0.055-0.053-4%-0.168+206%0.066-184%0.066-184%
Usd Book Value Per Share--1.0521.078-2%1.515-31%0.979+7%0.979+7%
Usd Dividend Per Share----0%-0%-0%-0%
Usd Eps---0.241-0.285+18%-0.344+43%-0.233-4%-0.233-4%
Usd Free Cash Flow---1350000.000-1757000.000+30%-9869500.000+631%-3964062.500+194%-3964062.500+194%
Usd Free Cash Flow Per Share---0.031-0.041+30%-0.230+631%-0.092+194%-0.092+194%
Usd Free Cash Flow To Equity Per Share---0.104-0.090-14%-0.263+153%0.026-493%0.026-493%
Usd Market Cap314356579.000+16%264179608.000316072031.000-16%219792287.500+20%221856190.688+19%221856190.688+19%
Usd Price Per Share7.330+16%6.1607.370-16%5.125+20%5.173+19%5.173+19%
Usd Profit---10348000.000-12203500.000+18%-15017250.000+45%-9998125.000-3%-9998125.000-3%
Usd Revenue--31285000.00028822250.000+9%23240000.000+35%21519437.500+45%21519437.500+45%
Usd Total Gains Per Share---0.055-0.053-4%-0.168+206%0.066-184%0.066-184%
 EOD+5 -3MRQTTM+17 -17YOY+24 -105Y+17 -1710Y+17 -17

3.3 Fundamental Score

Let's check the fundamental score of Backblaze Inc based on Penke's default stock scanner.

Penke's Stock Scanner

  
  
IndicatorConditionValue
Price to Earnings Ratio (EOD)Between0-15-7.595
Price to Book Ratio (EOD)Between0-16.971
Net Profit Margin (MRQ)Greater than0-0.331
Operating Margin (MRQ)Greater than0-0.314
Quick Ratio (MRQ)Greater than10.795
Current Ratio (MRQ)Greater than10.612
Debt to Asset Ratio (MRQ)Less than10.647
Debt to Equity Ratio (MRQ)Less than11.833
Return on Equity (MRQ)Greater than0.15-0.229
Return on Assets (MRQ)Greater than0.05-0.081
Total1/10 (10.0%)

3.4 Technical Score

Let's check the technical score of Backblaze Inc based on Penke's default Symbol scanner.

Penke's Symbol Scanner

  
  
IndicatorConditionValue
RsiGreater than5060.039
Ma 20Greater thanMa 507.161
Ma 50Greater thanMa 1006.538
Ma 100Greater thanMa 2006.364
OpenGreater thanClose7.180
Total3/5 (60.0%)

4. In-depth Analysis

4.1 About Backblaze Inc

Backblaze, Inc., a storage cloud platform, provides businesses and consumers cloud services to store, use, and protect data in the United States and internationally. The company offers cloud services through a web-scale software infrastructure built on commodity hardware. It also provides Backblaze B2 Cloud Storage, which enables customers to store data, developers to build applications, and partners to expand their use cases. This service is offered as a consumption-based Infrastructure-as-a-Service (IaaS) and serves use cases, such as public, hybrid, and multi-cloud data storage; application development and DevOps; content delivery and edge computing; security and ransomware protection; media management; backup, archive, and tape replacement; repository for analytics, artificial intelligence and machine learning; and Internet of Things. In addition, the company offers Backblaze Computer Backup that automatically backs up data from laptops and desktops for businesses and individuals, which provides a subscription-based Software-as-a-Service and serves use cases, including computer backup, ransomware protection, theft and loss protection, and remote access. It serves the public cloud IaaS storage and Data-Protection-as-a-Service markets. The company was incorporated in 2007 and is headquartered in San Mateo, California.

Fundamental data was last updated by Penke on 2024-11-03 22:25:04.

4.2 In-depth Summary

4.2.1. Financial Health Summary

Profitability Details
 Compared to previous yearCompared to industry
The company is making a huge loss.
Using its assets, the company is very inefficient in making profit.
Using its investors money, the company is very inefficient in making profit.
Operating Efficiency Details
 Compared to previous yearCompared to industry
The company is operating very inefficient.
The company is inefficient in keeping operating costs low.
Liquidity Details
 Compared to previous yearCompared to industry
The company is unable to pay all its short-term debts.
The company is just not able to pay all its short-term debts with the most liquid assets.
Solvency Details
 Compared to previous yearCompared to industry
The company is able to pay all its debts by selling its assets.
The company is just able to pay all its debts with equity.

4.2.2. Valuation Summary

Valuation Details
 Compared to previous yearCompared to industry
Based on the equity, the company is overpriced.
Based on the earnings, the company is expensive.
Based on how much money comes from the company's main activities, the company is expensive.
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4.3 Financial Health

4.3.1. Profitability

4.3.1 Profitability
4.3.1.1. Net Profit Margin

Measures how much net profit Backblaze earns for each $1 of revenue.

  • Above 10% is considered healthy but always compare Backblaze to the Software - Infrastructure industry mean.
  • A Net Profit Margin of -33.1% means that $-0.33 for each $1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Backblaze Inc:

  • The MRQ is -33.1%. The company is making a huge loss. -2
  • The TTM is -43.2%. The company is making a huge loss. -2
Trends
Current periodCompared to+/- 
MRQ-33.1%TTM-43.2%+10.2%
TTM-43.2%YOY-64.6%+21.4%
TTM-43.2%5Y-44.6%+1.4%
5Y-44.6%10Y-44.6%0.0%
4.3.1.2. Return on Assets

Shows how efficient Backblaze is using its assets to generate profit.

  • Above 5% is considered healthy but always compare Backblaze to the Software - Infrastructure industry mean.
  • -8.1% Return on Assets means that Backblaze generated $-0.08 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of Backblaze Inc:

  • The MRQ is -8.1%. Using its assets, the company is very inefficient in making profit. -2
  • The TTM is -9.3%. Using its assets, the company is very inefficient in making profit. -2
Trends
Current periodCompared to+/- 
MRQ-8.1%TTM-9.3%+1.2%
TTM-9.3%YOY-10.3%+1.1%
TTM-9.3%5Y-7.9%-1.3%
5Y-7.9%10Y-7.9%0.0%
4.3.1.3. Return on Equity

Shows how efficient Backblaze is using its investors money to generate profit.

  • Above 15%-20% is considered healthy but always compare Backblaze to the Software - Infrastructure industry mean.
  • -22.9% Return on Equity means Backblaze generated $-0.23 for each $1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Backblaze Inc:

  • The MRQ is -22.9%. Using its investors money, the company is very inefficient in making profit. -2
  • The TTM is -26.4%. Using its investors money, the company is very inefficient in making profit. -2
Trends
Current periodCompared to+/- 
MRQ-22.9%TTM-26.4%+3.4%
TTM-26.4%YOY-23.7%-2.7%
TTM-26.4%5Y-14.9%-11.4%
5Y-14.9%10Y-14.9%0.0%
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4.3.2. Operating Efficiency of Backblaze Inc.

4.3.2. Operating Efficiency
4.3.2.1. Operating Margin

Measures how efficient Backblaze is operating .

  • Measures how much profit Backblaze makes for each $1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
  • Above 15% is considered healthy but always compare Backblaze to the Software - Infrastructure industry mean.
  • An Operating Margin of -31.4% means the company generated $-0.31  for each $1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Backblaze Inc:

  • The MRQ is -31.4%. The company is operating very inefficient. -2
  • The TTM is -39.3%. The company is operating very inefficient. -2
Trends
Current periodCompared to+/- 
MRQ-31.4%TTM-39.3%+8.0%
TTM-39.3%YOY-61.5%+22.2%
TTM-39.3%5Y-42.4%+3.1%
5Y-42.4%10Y-42.4%0.0%
4.3.2.2. Operating Ratio

Measures how efficient Backblaze is keeping operating costs low.

  • Below 1 is considered healthy (always compare to Software - Infrastructure industry mean).
  • An Operation Ratio of 1.31 means that the operating costs are $1.31 for each $1 in net sales.

Let's take a look of the Operating Ratio trends of Backblaze Inc:

  • The MRQ is 1.314. The company is inefficient in keeping operating costs low. -1
  • The TTM is 1.393. The company is inefficient in keeping operating costs low. -1
Trends
Current periodCompared to+/- 
MRQ1.314TTM1.393-0.080
TTM1.393YOY1.609-0.216
TTM1.3935Y1.404-0.011
5Y1.40410Y1.4040.000
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4.4.3. Liquidity of Backblaze Inc.

4.4.3. Liquidity
4.4.3.1. Current Ratio

Measures if Backblaze is able to pay off Short-term Debt.

  • Above 1.5 is considered healthy (always compare to Software - Infrastructure industry mean).
  • A Current Ratio of 0.61 means the company has $0.61 in assets for each $1 in short-term debts.

Let's take a look of the Current Ratio trends of Backblaze Inc:

  • The MRQ is 0.612. The company is unable to pay all its short-term debts. -2
  • The TTM is 0.680. The company is unable to pay all its short-term debts. -2
Trends
Current periodCompared to+/- 
MRQ0.612TTM0.680-0.067
TTM0.680YOY1.212-0.532
TTM0.6805Y0.913-0.234
5Y0.91310Y0.9130.000
4.4.3.2. Quick Ratio

Measures if Backblaze is able to pay off Short-term Debt but only using the most liquid assets.

  • Above 1 is considered healthy but always compare Backblaze to the Software - Infrastructure industry mean.
  • A Quick Ratio of 0.79 means the company can pay off $0.79 for each $1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Backblaze Inc:

  • The MRQ is 0.795. The company is just not able to pay all its short-term debts with the most liquid assets. -1
  • The TTM is 0.868. The company is just not able to pay all its short-term debts with the most liquid assets. -1
Trends
Current periodCompared to+/- 
MRQ0.795TTM0.868-0.073
TTM0.868YOY1.957-1.089
TTM0.8685Y1.303-0.436
5Y1.30310Y1.3030.000
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4.5.4. Solvency of Backblaze Inc.

4.5.4. Solvency
4.5.4.1. Debt to Asset Ratio

Measures how much % of Backblaze assets are financed with debt.

  • Below 1 (100%) is considered healthy but always compare Backblaze to Software - Infrastructure industry mean.
  • A Debt to Asset Ratio of 0.65 means that Backblaze assets are financed with 64.7% credit (debt) and the remaining percentage (100% - 64.7%) is financed by its owners/shareholders. 

Let's take a look of the Debt to Asset Ratio trends of Backblaze Inc:

  • The MRQ is 0.647. The company is able to pay all its debts by selling its assets. +1
  • The TTM is 0.649. The company is able to pay all its debts by selling its assets. +1
Trends
Current periodCompared to+/- 
MRQ0.647TTM0.649-0.002
TTM0.649YOY0.558+0.091
TTM0.6495Y0.681-0.032
5Y0.68110Y0.6810.000
4.5.4.2. Debt to Equity Ratio

Measures if Backblaze is able to pay off its debts by using shareholders equity.

  • Below 2 is considered healthy but always compare Backblaze to the Software - Infrastructure industry mean.
  • A Debt to Equity ratio of 183.3% means that company has $1.83 debt for each $1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Backblaze Inc:

  • The MRQ is 1.833. The company is just able to pay all its debts with equity.
  • The TTM is 1.847. The company is just able to pay all its debts with equity.
Trends
Current periodCompared to+/- 
MRQ1.833TTM1.847-0.014
TTM1.847YOY1.274+0.573
TTM1.8475Y0.938+0.909
5Y0.93810Y0.9380.000
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4.6. Market Valuation

4.6.1. Earnings Per Share
4.6.2.1. Price to Earnings Ratio

Measures how much money you pay for each share for every $1 in earnings Backblaze generates.

  • Above 15 is considered overpriced but always compare Backblaze to the Software - Infrastructure industry mean.
  • A PE ratio of -6.38 means the investor is paying $-6.38 for every $1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Backblaze Inc:

  • The EOD is -7.595. Based on the earnings, the company is expensive. -2
  • The MRQ is -6.382. Based on the earnings, the company is expensive. -2
  • The TTM is -6.786. Based on the earnings, the company is expensive. -2
Trends
Current periodCompared to+/- 
EOD-7.595MRQ-6.382-1.212
MRQ-6.382TTM-6.786+0.403
TTM-6.786YOY-3.756-3.030
TTM-6.7865Y-4.687-2.099
5Y-4.68710Y-4.6870.000
4.6.2.2. Price To Free Cash Flow Ratio

Let's take a look of the Price To Free Cash Flow Ratio trends of Backblaze Inc:

  • The EOD is -58.214. Based on how much money comes from the company's main activities, the company is expensive. -2
  • The MRQ is -48.922. Based on how much money comes from the company's main activities, the company is expensive. -2
  • The TTM is -118.851. Based on how much money comes from the company's main activities, the company is expensive. -2
Trends
Current periodCompared to+/- 
EOD-58.214MRQ-48.922-9.292
MRQ-48.922TTM-118.851+69.929
TTM-118.851YOY-5.712-113.139
TTM-118.8515Y-37.270-81.581
5Y-37.27010Y-37.2700.000
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4.6.2. Book Value per Share
4.6.2.1. Price to Book Ratio

Measures if the stock price of Backblaze is to cheap or to expensive compared to its book value.

  • At or below 1 is considered healthy (always compare to Software - Infrastructure industry mean).
  • A PB ratio of 5.86 means the investor is paying $5.86 for each $1 in book value.

Let's take a look of the Price to Book Ratio trends of Backblaze Inc:

  • The EOD is 6.971. Based on the equity, the company is overpriced. -1
  • The MRQ is 5.858. Based on the equity, the company is overpriced. -1
  • The TTM is 6.832. Based on the equity, the company is overpriced. -1
Trends
Current periodCompared to+/- 
EOD6.971MRQ5.858+1.113
MRQ5.858TTM6.832-0.974
TTM6.832YOY3.409+3.423
TTM6.8325Y3.530+3.302
5Y3.53010Y3.5300.000
4.6.2. Total Gains per Share

4.7 Holders & Insider Transactions

Let's take a look at which institutions, funds and insiders are holding shares of Backblaze Inc.

4.8.1. Institutions holding Backblaze Inc

Institutions are holding 37.164% of the shares of Backblaze Inc.

DateNameTotal SharesTotal AssetsCurrent SharesChange%
2024-06-30BlackRock Inc6.06270.000426000631970660313.0999
2024-06-30Vanguard Group Inc4.11690.0002176559831226321.486
2024-06-30Whetstone Capital Advisors, LLC3.73264.5765160078900
2024-06-30Arnhold & S. Bleichroeder Advisers, LLC2.55210.0151109449036750050.5509
2024-06-30Geode Capital Management, LLC1.96560.0005842969487693137.2716
2024-06-30Millennium Management LLC1.51060.0019647832-153514-19.157
2024-06-30Morgan Stanley - Brokerage Accounts1.44380.0002619182-34538-5.2833
2024-06-30Oberweis Asset Management Inc1.25610.203453870018090050.559
2024-06-30State Street Corp1.08980.0001467396352802307.8713
2024-06-30Marshall Wace Asset Management Ltd0.83530.003358220-46835-11.5626
2024-06-30Two Sigma Investments LLC0.79770.0048342105-115184-25.1884
2024-06-30Two Sigma Advisers, LLC0.66710.0039286100-109800-27.7343
2024-06-30Scalar Gauge Management, LLC0.5850.8992250887150006.359
2024-06-30Connor Clark & Lunn Inv Mgmt Ltd0.54470.00623359762122.7319
2024-06-30Qube Research & Technologies0.53480.0022229370-65930-22.3264
2024-06-30Gilder Gagnon Howe & CO LLC0.48480.016207908-11748-5.3484
2024-06-30NORGES BANK0.39480.00021693001693000
2024-06-30CastleKnight Management LP0.32880.0431141000112700398.2332
2024-06-30Renaissance Technologies Corp0.32230.0014138221-57395-29.3406
2024-06-30GSA Capital Partners LLP0.30970.05721328214364148.9359
Total 29.53525.835312666548+3423727+27.0%

4.9.2. Funds holding Backblaze Inc

DateNameTotal SharesTotal AssetsCurrent SharesChange%
2024-10-30iShares Russell 2000 ETF2.4720.01171060129-680-0.0641
2024-09-30First Eagle US Small Cap Strategy2.36770.3321015439185091.8566
2024-09-30First Eagle Small Cap Opportunity I2.36770.3304101543900
2024-09-30Vanguard Total Stock Mkt Idx Inv2.21350.000494930300
2024-06-30Oberweis Micro-Cap Growth1.25610.648653870018090050.559
2024-06-30Oberweis Micro-Cap1.25610.649253870018090050.559
2024-09-30Vanguard Institutional Extnd Mkt Idx Tr1.24070.003153208400
2024-08-31Fidelity Small Cap Index0.95620.0092410100-10738-2.5516
2024-10-30iShares Russell 2000 Growth ETF0.82880.022435543300
2024-09-30Fidelity Extended Market Index0.50290.0033215693-6887-3.0942
2024-09-30Vanguard Russell 2000 ETF0.42720.00941831972243213.9533
2024-09-30State St Russell Sm Cap® Indx SL Cl I0.3980.01117070000
2024-09-30State St Russell Sm/Mid Cp® Indx NL Cl C0.23750.00141018431610018.777
2024-09-30Schwab Small Cap Index0.2320.00989947850985.4016
2024-09-30NT R2000 Index Fund - NL0.22810.009597806978060
2024-10-30iShares Micro-Cap ETF0.21210.07559094300
2024-09-30NT R2000 Growth Index Fund - L0.20190.01986599865990
2024-09-30Northern Trust Russell 2000 Growth Index0.20190.01986599865990
2024-09-30iShares Russell 2000 Small-Cap Idx Instl0.18560.00977958100
2024-09-30NT R2000 Index Fund - DC - NL - 20.18260.009578317783170
Total 17.96862.18417706083+754955+9.8%

5.3. Insider Transactions

Insiders are holding 23.148% of the shares of Backblaze Inc.

DateOwnerTypeAmountPricePost Transaction AmountLink
2024-08-23Tina CessnaSELL38946.45
2024-08-23Gleb BudmanSELL45276.45
2024-08-22Francis P PatchelSELL32616.22
2024-08-21Gleb BudmanSELL35996.34
2024-08-21Tina CessnaSELL30956.34
2024-08-20Francis P PatchelSELL131076.55
2024-08-16Barbara H NelsonSELL160006.79
2024-05-30Francis P PatchelSELL103286.45
2024-05-23Francis P PatchelSELL26476.64
2024-05-23Tina CessnaSELL27156.64
2024-05-21Francis P PatchelSELL21566.75
2024-05-21Tina CessnaSELL22126.75
2024-03-26Tina CessnaSELL200009.95
2024-02-26Tina CessnaSELL21299.84
2024-02-26Francis P PatchelSELL34349.84
2024-02-22Francis P PatchelSELL239610.85
2024-02-22Gleb BudmanSELL5000010.66
2024-02-22Tina CessnaSELL148510.85
2024-02-20Francis P PatchelSELL75311.5
2024-02-20Gleb BudmanSELL85111.5
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5. Financial Statements




5.1. Latest Balance Sheet

Balance Sheet of 2024-06-30. Currency in USD. All numbers in thousands.

Summary
Total Assets127,776
Total Liabilities82,678
Total Stockholder Equity45,098
 As reported
Total Liabilities 82,678
Total Stockholder Equity+ 45,098
Total Assets = 127,776

Assets

Total Assets127,776
Total Current Assets33,712
Long-term Assets94,064
Total Current Assets
Cash And Cash Equivalents 9,273
Short-term Investments 14,373
Net Receivables 5,751
Other Current Assets 4,315
Total Current Assets  (as reported)33,712
Total Current Assets  (calculated)33,712
+/-0
Long-term Assets
Property Plant Equipment 49,999
Intangible Assets 38,335
Long-term Assets Other 1,048
Long-term Assets  (as reported)94,064
Long-term Assets  (calculated)89,382
+/- 4,682

Liabilities & Shareholders' Equity

Total Current Liabilities55,058
Long-term Liabilities27,620
Total Stockholder Equity45,098
Total Current Liabilities
Short-term Debt 18,922
Accounts payable 1,147
Other Current Liabilities 5,551
Total Current Liabilities  (as reported)55,058
Total Current Liabilities  (calculated)25,620
+/- 29,438
Long-term Liabilities
Long term Debt 4,682
Capital Lease Obligations Min Short Term Debt18,030
Long-term Liabilities  (as reported)27,620
Long-term Liabilities  (calculated)22,712
+/- 4,908
Total Stockholder Equity
Common Stock4
Retained Earnings -168,855
Other Stockholders Equity 213,949
Total Stockholder Equity (as reported)45,098
Total Stockholder Equity (calculated)45,098
+/-0
Other
Capital Stock4
Cash and Short Term Investments 23,646
Common Stock Shares Outstanding 42,152
Current Deferred Revenue29,438
Liabilities and Stockholders Equity 127,776
Net Debt 32,664
Net Invested Capital 49,780
Net Working Capital -21,346
Property Plant and Equipment Gross 138,090
Short Long Term Debt Total 41,937



5.2. Balance Sheets Structured

Currency in USD. All numbers in thousands.

 Trend2024-06-302024-03-312023-12-312023-09-302023-06-302023-03-312022-12-312022-09-302022-06-302022-03-312021-12-312021-09-302021-06-302021-03-312020-12-312020-09-302020-03-31
> Total Assets 
0
0
54,469
0
51,952
60,397
163,581
164,204
160,477
156,913
150,913
142,925
134,555
134,749
131,687
131,886
127,776
127,776131,886131,687134,749134,555142,925150,913156,913160,477164,204163,58160,39751,952054,46900
   > Total Current Assets 
0
0
9,232
4,817
4,817
8,803
111,082
105,287
94,605
84,532
72,854
57,972
44,726
44,883
38,514
38,719
33,712
33,71238,71938,51444,88344,72657,97272,85484,53294,605105,287111,0828,8034,8174,8179,23200
       Cash And Cash Equivalents 
0
0
6,076
0
1,306
4,684
104,843
19,290
7,237
24,813
6,690
4,047
5,886
9,016
12,502
6,319
9,273
9,2736,31912,5029,0165,8864,0476,69024,8137,23719,290104,8434,6841,30606,07600
       Short-term Investments 
0
0
0
0
0
0
0
79,843
80,839
52,626
58,733
45,508
30,933
20,732
16,799
21,841
14,373
14,37321,84116,79920,73230,93345,50858,73352,62680,83979,8430000000
       Net Receivables 
0
0
1,318
1,538
1,538
1,733
309
241
391
720
856
789
826
1,991
800
5,324
5,751
5,7515,3248001,9918267898567203912413091,7331,5381,5381,31800
       Other Current Assets 
0
0
829
652
652
577
817
505
765
1,137
6,575
7,628
7,081
7,066
8,413
5,235
4,315
4,3155,2358,4137,0667,0817,6286,5751,13776550581757765265282900
   > Long-term Assets 
0
0
45,237
0
47,135
51,594
52,499
58,917
65,872
72,381
78,059
84,953
89,829
89,866
93,173
93,167
94,064
94,06493,16793,17389,86689,82984,95378,05972,38165,87258,91752,49951,59447,135045,23700
       Property Plant Equipment 
0
0
38,746
37,151
37,151
40,395
43,068
48,355
53,388
54,567
56,256
56,633
57,253
60,055
55,580
52,055
49,999
49,99952,05555,58060,05557,25356,63356,25654,56753,38848,35543,06840,39537,15137,15138,74600
       Intangible Assets 
0
0
5,682
0
6,917
7,719
7,637
8,689
10,550
13,648
16,704
20,424
24,260
28,943
32,521
35,467
38,335
38,33535,46732,52128,94324,26020,42416,70413,64810,5508,6897,6377,7196,91705,68200
       Other Assets 
0
0
0
3,067
3,067
3,480
1,794
1,873
1,934
4,166
5,099
0
8,316
0
0
0
0
00008,31605,0994,1661,9341,8731,7943,4803,0673,067000
> Total Liabilities 
0
0
61,309
0
62,473
75,306
68,095
76,636
77,491
80,391
82,355
82,356
80,370
87,391
86,749
84,432
82,678
82,67884,43286,74987,39180,37082,35682,35580,39177,49176,63668,09575,30662,473061,30900
   > Total Current Liabilities 
0
0
36,374
40,640
40,640
40,860
45,062
51,254
52,010
54,221
54,919
53,368
51,042
60,975
57,087
55,658
55,058
55,05855,65857,08760,97551,04253,36854,91954,22152,01051,25445,06240,86040,64040,64036,37400
       Short-term Debt 
0
0
11,948
0
14,589
11,966
13,645
17,060
20,259
20,854
20,043
19,209
19,551
27,153
20,370
19,761
18,922
18,92219,76120,37027,15319,55119,20920,04320,85420,25917,06013,64511,96614,589011,94800
       Short Long Term Debt 
0
0
628
0
3,500
0
0
0
0
0
0
0
0
6,078
0
0
0
0006,078000000003,500062800
       Accounts payable 
0
0
1,710
1,966
1,966
1,403
2,075
2,528
1,969
2,718
3,901
3,352
2,456
1,985
2,281
1,441
1,147
1,1471,4412,2811,9852,4563,3523,9012,7181,9692,5282,0751,4031,9661,9661,71000
       Other Current Liabilities 
0
0
5,129
18,880
5,701
6,364
7,620
9,095
7,384
7,944
8,063
7,014
5,805
8,248
8,460
5,772
5,551
5,5515,7728,4608,2485,8057,0148,0637,9447,3849,0957,6206,3645,70118,8805,12900
   > Long-term Liabilities 
0
0
24,935
0
21,833
34,446
23,033
25,382
25,481
26,170
27,436
28,988
29,328
26,416
29,662
28,774
27,620
27,62028,77429,66226,41629,32828,98827,43626,17025,48125,38223,03334,44621,833024,93500
       Warrants
0
0
0
0
0
2,784
0
0
0
0
0
0
0
0
0
0
0
000000000002,78400000
       Other Liabilities 
0
0
0
2,567
2,567
4,065
3,430
3,233
2,975
2,784
2,612
0
2,552
0
0
0
0
00002,55202,6122,7842,9753,2333,4304,0652,5672,567000
       Deferred Long Term Liability 
0
0
0
0
0
2,400
0
0
0
0
0
0
0
0
0
0
0
000000000002,40000000
> Total Stockholder Equity
0
0
-6,840
0
-10,521
-14,909
95,486
87,568
82,986
76,522
68,558
60,569
54,185
47,358
44,938
47,454
45,098
45,09847,45444,93847,35854,18560,56968,55876,52282,98687,56895,486-14,909-10,5210-6,84000
   Common Stock
0
0
5
5
5
5
3
3
3
3
4
4
4
4
4
4
4
44444443333555500
   Retained Earnings Total Equity0000-119,191-104,8540-73,248-60,448-48,873-36,343-26,73800000
   Accumulated Other Comprehensive Income 00000000000-2,78400000
   Capital Surplus 
0
0
0
0
0
11,824
131,826
136,438
143,431
149,767
0
165,419
173,372
0
0
0
0
0000173,372165,4190149,767143,431136,438131,82611,82400000
   Treasury Stock00000000000000000
   Other Stockholders Equity 
0
0
7,794
0
10,219
11,824
131,826
136,438
143,431
149,767
156,595
165,419
173,372
182,600
191,538
205,957
213,949
213,949205,957191,538182,600173,372165,419156,595149,767143,431136,438131,82611,82410,21907,79400



5.3. Balance Sheets

Currency in USD. All numbers in thousands.




5.4. Cash Flows

Currency in USD. All numbers in thousands.




5.5. Income Statements

Currency in USD. All numbers in thousands.


5.6. Latest Income Statement

Income Statement (annual), 2023-12-31. Currency in USD. All numbers in thousands.

Gross Profit (+$)
totalRevenue102,019
Cost of Revenue-52,162
Gross Profit49,85749,857
 
Operating Income (+$)
Gross Profit49,857
Operating Expense-104,146
Operating Income-54,289-54,289
 
Operating Expense (+$)
Research Development37,216
Selling General Administrative26,965
Selling And Marketing Expenses41,270
Operating Expense104,146105,451
 
Net Interest Income (+$)
Interest Income0
Interest Expense-3,792
Other Finance Cost-487
Net Interest Income-4,279
 
Pretax Income (+$)
Operating Income-54,289
Net Interest Income-4,279
Other Non-Operating Income Expenses0
Income Before Tax (EBT)-59,713-48,865
EBIT - interestExpense = -58,081
-34,969
-55,921
Interest Expense3,792
Earnings Before Interest and Taxes (EBIT)-54,289-55,921
Earnings Before Interest and Taxes (EBITDA)-29,377
 
After tax Income (+$)
Income Before Tax-59,713
Tax Provision-30
Net Income From Continuing Ops-61,998-59,743
Net Income-59,713
Net Income Applicable To Common Shares0
 
Non-recurring Events
Discontinued Operations0
Extraordinary Items0
Effect of Accounting Charges0
Other Items0
Non Recurring0
Other Operating Expenses156,308
Total Other Income/Expenses Net-5,4244,279
 

Technical Analysis of Backblaze
The psychology behind the price

Technical indicators reflecting market sentiment and the collective psychology of you and other traders. Your emotions and other traders' emotions, such as fear and greed, play a significant role in driving price movements.

General trend

First of all, I'm going to put something in the back of your mind. One of the most stable factors that gives you more confidence as a trader: the general trend of Backblaze. The general trend of Backblaze is BULLISH with 42.9% confidence. It is very important for your mental being to use each indicator with this in mind. But beware, also the general trend flips once in a while! You can use moving averages to determine Backblaze's overall trend. For convenience I use the most commonly used moving averages: 20, 50, 100 & 200. Of course you can use other moving averages or other indicators to determine the trend.

Indicator phases

Some of the indicators I use have 3 zones: overbought, oversold and neutral. Transitions between these zones (market phases) provide valuable trading signals and insights. Expecially with the general trend mind, I use the highlighted phases:

Indicator zone transitionsBullish trend (42.9%) Bearish trend (-42.9%)
Overbought to neutralBullish pullback=Bearish reversal
Upper to lower neutralBullish correction=Bearish continuation
Nuetral to oversoldOversold=Oversold
Oversold to neutralBullish reversal=Bearish correction
Lower to upper neutralBullish continuation=Bearish pullback
Nuetral to overboughtOverbought=Overbought

1. Price Targets

1.1 Support & Resistance

Support and resistance are levels on a price chart that act as barriers or zones where the price of an asset tends to stop, reverse, or experience a significant amount of buying or selling pressure.

Support is a price level at which demand for an asset is strong enough to prevent the price from falling further.
Resistance is a price level at which selling pressure becomes significant enough to prevent the price of an asset from rising further.


Score

Let's take a look at the Support & Resistance of Backblaze Inc.

The long score for the Support & Resistance is 0/1.
The longshort score for the Support & Resistance is 0/(-1 +1).

  • Between support/resistance: The price is trading between support and resistance lines.

The bullish price targets are: 8.01 < 8.82 < 10.

The bearish price targets are: 6.99 > 6.9 > 6.525.

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Backblaze Inc Daily Support & Resistance Chart

2. Trend Indicators

2.1 Moving Averages

Shows the moving average of the selected period.

  • Moving averages are lagging trend indicators.
  • There are many types of moving averages.
  • Moving averages are also used within other indicators.

Score

Let's take a look at the Moving Averages of Backblaze Inc. The current mas is .

The long score for the Moving Averages is 10/14.
The longshort score for the Moving Averages is 6/(-14 +14).

  • MA 20 trending up: The MA 20 is trending up. +1
  • Close > MA 20: The price is above the MA 20. +1
  • MA 20 > MA 50: The MA 20 is higher than the MA 50. +1
  • MA 20 > MA 100: The MA 20 is higher than the MA 100. +1
  • MA 20 < MA 200: The MA 20 is lower than the MA 200. -1
  • MA 50 trending up: The MA 50 is trending up. +1
  • Close > MA 50: The price is above the MA 50. +1
  • MA 50 > MA 100: The MA 50 is higher than the MA 100. +1
  • MA 50 < MA 200: The MA 50 is lower than the MA 200. -1
  • MA 100 trending up: The MA 100 is trending up. +1
  • Close > MA 100: The price is above the MA 100. +1
  • MA 100 < MA 200: The MA 100 is lower than the MA 200. -1
  • MA 200 trending up: The MA 200 is trending up. +1
  • Close < MA 200: The price is below the MA 200. -1

Directionalities and relatives.

Moving AverageAmount of candlesTrendPrice +/-vs. MA 50vs. MA 100vs. MA 200
MA 2020
MA 5050-
MA 100100--
MA 200200---

Explanation: https://www.youtube.com/watch?v=xwW8h0lrQ-I

Backblaze Inc Daily Moving Averages Chart
2.2 Moving Average Convergence/Divergence (MACD)

Shows the momentum of the selected period based on two moving averages.

  • MACD is a lagging momentum indicator.
  • Uses two moving averages.
  • Can show buy or sell signals based on momentum.
  • Can show overbought. and oversold. levels.

Score

Let's take a look at the Moving Average Convergence/Divergence (MACD) of Backblaze Inc. The current macd is 0.22991016.

The long score for the Moving Average Convergence/Divergence (MACD) is 1/4.
The longshort score for the Moving Average Convergence/Divergence (MACD) is -2/(-4 +4).

  • MACD line < signal line: The MACD line is below the signal line, which indicates a bearish signal in the market. This means that the negative momentum is currently stronger than the average momentum, suggesting that sellers are more active than buyers, and there's a higher probability of the Backblaze price going down in the near term. -2
  • MACD > 0: The MACD is above the zero line (centerline), it indicates a bullish signal for Backblaze. This means that the short-term moving average is higher than the long-term moving average, signaling positive momentum and suggesting a higher likelihood of the Backblaze price continuing to rise in the near future. It indicates that buyers are gaining control, and there is optimism in the market, leading to potential price increases. +1
  • Trending down: The MACD line is trending down. This indicates that the short-term moving average is falling faster than the long-term moving average, suggesting negative momentum in the market. This signals that sellers are becoming more active and insecure, leading to potential price decreases as traders anticipate further losses and are willing to sell at lower prices. -1
Backblaze Inc Daily Moving Average Convergence/Divergence (MACD) ChartBackblaze Inc Daily Moving Average Convergence/Divergence (MACD) Chart
2.3 Directional Movement Index (DMI)

The DMI is a collection of 3 indicators: +DI (Plus Direction Indicator), -DI (Minus Direction Indicator) and ADX (Average Directional Index). The ADX helps you determine the strength of a trend.


Score

Let's take a look at the Directional Movement Index (DMI) of Backblaze Inc. The current adx is 36.52.

The long score for the Directional Movement Index (DMI) is 4/7.
The longshort score for the Directional Movement Index (DMI) is 4/(-7 +7).

  • PLUS_ID > MINUS_DI: The +DI line is above the -DI line. This indicates a bullish signal in the market, as the positive directional movement is currently stronger than the negative directional movement, showing that buyers have the upper hand. Market psychology suggests that traders are optimistic, expecting further price increases, and are more willing to buy Backblaze shares, leading to potential upward momentum in its price. +1
  • PLUS_ID > MINUS_DI && ADX > 25 && ADX trending up: The ADX is above 25 and indicates a strong bullish trend. The ADX is trending up, so the bullish trend is strengthening.
Backblaze Inc Daily Directional Movement Index (DMI) Chart
2.4 Parabolic SAR

Shows the current trend and potential entry and exit signals.

  • Parabolic SAR (stop and reverse) is a lagging trend indicator.
  • Shows the current trend.
  • Shows potential entry signals.
  • Shows  potential exit signals.
  • Can be used to place trailing stoplosses..

Score

Let's take a look at the Parabolic SAR of Backblaze Inc. The current sar is 7.758.

The long score for the Parabolic SAR is 0/1.
The longshort score for the Parabolic SAR is -1/(-1 +1).

  • Close < SAR: The price is below the SAR. It's generally considered a bearish signal. -1
Backblaze Inc Daily Parabolic SAR Chart
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3. Momentum Indicators

3.1 Relative Strength Index (RSI)

Measures the speed and change of price movements.

  • Leading momentum indicator, meaning the signals are instant.
  • Ranges between 0 and 100.
  • Above 70 is considered overbought.
  • Below 30 is considered oversold.
  • Above or below 50 can also be used to determine price trend or support and resistance.
  • RSI divergence looks at a deviation between RSI and price movement. Penketrading automatically calculates RSI divergences.
  • Can be used in many different ways

Score

Let's take a look at the Relative Strength Index (RSI) of Backblaze Inc. The current rsi is 60.04. The current phase is Continuation in bull market.

The long score for the Relative Strength Index (RSI) is 4/13.
The longshort score for the Relative Strength Index (RSI) is 4/(-13 +13).

  • Continuation in bull market: Uptrend continues after a consolidation or pullback. Hold or add to existing positions.
  • Trending up: The RSI is trending up. +1
Backblaze Inc Daily Relative Strength Index (RSI) ChartBackblaze Inc Daily Relative Strength Index (RSI) Chart
3.2 Stochastic Oscillator

Compares a certain price to multiple prices ranging over time.

  • Leading momentum indicator, meaning the signals are instant.
  • Used to determine overbought and oversold areas much like the RSI.
  • Ranges between 0 and 100.
  • Above 80 is considered overbought.
  • Below 20 is considered oversold.
  • Consists of two lines named K and D.
  • K compares the highest high and lowest low on the selected price range.
  • The D line is a moving average of the K line.
  • Can be used to spot divergences

Score

Let's take a look at the Stochastic Oscillator of Backblaze Inc. The current phase is Correction in bull market.

The long score for the Stochastic Oscillator is 3/6.
The longshort score for the Stochastic Oscillator is 2/(-6 +6).

  • STOCH < 50: The STOCH %K is below 50. There are more sellers than buyers. -1
  • STOCH %K line > STOCH %D line: The STOCH %K line is above the STOCH %D line, which indicates a bullish signal in the market. This means that the positive momentum is currently stronger than the average momentum, suggesting that buyers are more active than sellers, and there's a higher probability of the Backblaze price going up in the near term. +2
  • Trending up: The STOCH %K is trending up. +1
Backblaze Inc Daily Stochastic Oscillator ChartBackblaze Inc Daily Stochastic Oscillator Chart
3.3 Commodity Channel Index (CCI)

Measures the difference between the current price and the historical average price.

  • Lagging or leading Momentum indicator
  • When the CCI is above zero, the price is above the historical average
  • When the CCI is below zero, the price is below the historical average
  • Used for spotting trends
    • If the CCI moves from negative or near zero to positive 100 that might indicate an uptrend
    • If the CCI moves from positive or near zero to negative -100 that might indicate a downtrend

Score

Let's take a look at the Commodity Channel Index (CCI) of Backblaze Inc. The current cci is 40.98.

Backblaze Inc Daily Commodity Channel Index (CCI) ChartBackblaze Inc Daily Commodity Channel Index (CCI) Chart
3.4 Chande Momentum Oscillator (CMO)

Measures the difference between the sum of recent gains and the sum of recent losses. Then divides the result by the sum of all price movements in that period.

  • Lagging momentum indicator
  • Ranges between +100 and -100
  • Considered overbought above +50
  • Considered oversold below -50
  • It's possible to add a moving average that acts as a signal line

Score

Let's take a look at the Chande Momentum Oscillator (CMO) of Backblaze Inc. The current cmo is 16.04.

The long score for the Chande Momentum Oscillator (CMO) is 1/1.
The longshort score for the Chande Momentum Oscillator (CMO) is 1/(-1 +1).

  • CMO > 0: The CMO is above 0, the momentum of the price is positive, indicating a potential uptrend in the price. +1
Backblaze Inc Daily Chande Momentum Oscillator (CMO) ChartBackblaze Inc Daily Chande Momentum Oscillator (CMO) Chart
3.5 Williams %R

 Shows the current price relative to the highest high over the last 14 days.
 

  • Lagging momentum indicator
  • Ranging between 0 and -100
  • Above -20 is considered overbought
  • Below -80 is considered oversold
  • Is prone to give false signals

Score

Let's take a look at the Williams %R of Backblaze Inc. The current willr is -57.14285714.

The long score for the Williams %R is 0/1.
The longshort score for the Williams %R is 0/(-1 +1).

  • WILLR between -80 and -20: The Williams %R is between -80 and -20. This indicates that Backblaze is trading in a neutral price range, neither oversold nor overbought, suggesting a balanced market condition without any extreme price signals.
Backblaze Inc Daily Williams %R ChartBackblaze Inc Daily Williams %R Chart
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4. Volatility Indicators

4.1 Bollinger Bands

Shows if the price is to high or to low relative to an average.

  • Lagging volatility indicator
  • Uses 3 bands: one upper, one lower and one in the middle
  • Works best when the middle band reflects an intermediate trend (MA20).
  • When the price is moving closer to the upper band, the market might be overbought
  • When the price is moving closer to the lower band, the market might be oversold 

Score

Let's take a look at the Bollinger Bands of Backblaze Inc.

Backblaze Inc Daily Bollinger Bands Chart
4.2 Average True Range (ATR)
Measures market volatility
  • Leading volatility indicator
  • Can be used to determine stop-loss positions
  • Calculated by:
    • Current high minus the current low
    • Current high minus the previous close
    • Current low minus the previous close
  • The larger the range of the candles, the greater the ATR value

Score

Let's take a look at the Average True Range (ATR) of Backblaze Inc. The current atr is 0.26528768.

Backblaze Inc Daily Average True Range (ATR) ChartBackblaze Inc Daily Average True Range (ATR) Chart
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5. Volume Indicators

5.1 On-Balance Volume (OBV)

 Measures market volatility

  • Leading momentum indicator
  • Calculation:
    • If the closing price is above the previous closing price: OBV = previous OBV + current volume
    • If the closing price is below the previous closing price: OBV = previous OBV - current volume
    • If the closing price is the same as the previous closing price than the OBV is the same.
  • Can be used to confirm price trends
  • Can be used with divergences

Score

Let's take a look at the On-Balance Volume (OBV) of Backblaze Inc. The current obv is 14,226,736.

Backblaze Inc Daily On-Balance Volume (OBV) ChartBackblaze Inc Daily On-Balance Volume (OBV) Chart
5.2 Money Flow Index (MFI)

Measures the flow of money in and out of a security

  • Lagging momentum indicator
  • Looks like RSI but uses volume as an extra metric (RSI only considers price)
  • Above 80 is considered overbought
  • Below 20 is considered oversold
  • Can be used with divergences

Score

Let's take a look at the Money Flow Index (MFI) of Backblaze Inc. The current mfi is 55.43.

The long score for the Money Flow Index (MFI) is 1/2.
The longshort score for the Money Flow Index (MFI) is 1/(-2 +2).

  • MFI > 50: +1
Backblaze Inc Daily Money Flow Index (MFI) ChartBackblaze Inc Daily Money Flow Index (MFI) Chart
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6. Summary

6.1. Notifications

TypeNotificationDate
PenkeCurrently no notifications for Backblaze Inc.

6.2. Trading Signals

Below you will find trading signals as the indicator is commonly used. This doesn't mean you should use it that way. Learn from these, but don't use them blindly. I recommend using at least 4 indicators, 1 from each category: trend, momentum, volatility and volume.

DateIndicatorSignal
2024-06-14WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
2024-06-17SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
2024-06-20STOCH SHORT EXITThe %K line crosses above the %D line.
CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
2024-06-25STOCH LONG EXITThe %K line crosses below the %D line.
2024-06-26RSI LONG ENTRY SHORT CLOSE30 crossover to upside
STOCH SHORT EXITThe %K line crosses above the %D line.
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2024-06-27SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
2024-06-28WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2024-07-02STOCH LONG EXITThe %K line crosses below the %D line.
CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
2024-07-05DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
STOCH SHORT EXITThe %K line crosses above the %D line.
CCI LONG ENTRY SHORT CLOSE100 crossover to upside
CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2024-07-08STOCH LONG EXITThe %K line crosses below the %D line.
2024-07-09STOCH SHORT EXITThe %K line crosses above the %D line.
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2024-07-10STOCH LONG EXITThe %K line crosses below the %D line.
2024-07-11STOCH SHORT EXITThe %K line crosses above the %D line.
CCI LONG ENTRY SHORT CLOSE100 crossover to upside
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2024-07-12MFI LONG ENTRY SHORT CLOSE80 crossover to upside
2024-07-15BB SHORT ENTRY LONG CLOSEPrice closed above the lower band.
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2024-07-17STOCH LONG EXITThe %K line crosses below the %D line.
2024-07-18DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2024-07-19SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
MFI SHORT ENTRY LONG CLOSE80 crossover to downside
2024-07-22DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
STOCH SHORT EXITThe %K line crosses above the %D line.
CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2024-07-23SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
CCI LONG ENTRY SHORT CLOSE100 crossover to upside
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
BB SHORT ENTRY LONG CLOSEPrice closed above the lower band.
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2024-07-24STOCH LONG EXITThe %K line crosses below the %D line.
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2024-07-26STOCH SHORT EXITThe %K line crosses above the %D line.
CCI LONG ENTRY SHORT CLOSE100 crossover to upside
2024-07-29STOCH LONG EXITThe %K line crosses below the %D line.
CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2024-07-30DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
2024-07-31DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
STOCH SHORT EXITThe %K line crosses above the %D line.
CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
2024-08-01MACD SHORT ENTRY LONG CLOSEThe MACD line crosses below the signal line.
DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
STOCH LONG EXITThe %K line crosses below the %D line.
CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2024-08-02CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
2024-08-05BB LONG ENTRY SHORT CLOSEPrice closed below the lower band.
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2024-08-07STOCH SHORT EXITThe %K line crosses above the %D line.
2024-08-09DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2024-08-13MACD LONG ENTRY SHORT CLOSEThe MACD line crosses above the signal line.
2024-08-15WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2024-08-20STOCH LONG EXITThe %K line crosses below the %D line.
2024-08-22CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
2024-08-23STOCH SHORT EXITThe %K line crosses above the %D line.
CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2024-08-27STOCH LONG EXITThe %K line crosses below the %D line.
2024-08-28CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
2024-08-29MACD SHORT ENTRY LONG CLOSEThe MACD line crosses below the signal line.
2024-08-30DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
2024-09-04STOCH SHORT EXITThe %K line crosses above the %D line.
2024-09-06STOCH LONG EXITThe %K line crosses below the %D line.
CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
2024-09-09STOCH SHORT EXITThe %K line crosses above the %D line.
2024-09-13CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
2024-09-16MACD LONG ENTRY SHORT CLOSEThe MACD line crosses above the signal line.
DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
2024-09-17WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2024-09-18DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
STOCH LONG EXITThe %K line crosses below the %D line.
CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
2024-09-19STOCH SHORT EXITThe %K line crosses above the %D line.
CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2024-09-23STOCH LONG EXITThe %K line crosses below the %D line.
CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
2024-09-24CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
2024-09-25STOCH SHORT EXITThe %K line crosses above the %D line.
2024-09-26WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2024-09-27DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
CCI LONG ENTRY SHORT CLOSE100 crossover to upside
2024-09-30STOCH LONG EXITThe %K line crosses below the %D line.
2024-10-01DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
2024-10-03CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
2024-10-04DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
STOCH SHORT EXITThe %K line crosses above the %D line.
CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2024-10-08CCI LONG ENTRY SHORT CLOSE100 crossover to upside
2024-10-09WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
BB SHORT ENTRY LONG CLOSEPrice closed above the lower band.
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2024-10-11STOCH LONG EXITThe %K line crosses below the %D line.
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2024-10-14RSI SHORT ENTRY LONG CLOSE70 crossover to downside
MFI LONG ENTRY SHORT CLOSE80 crossover to upside
2024-10-15STOCH SHORT EXITThe %K line crosses above the %D line.
2024-10-16STOCH LONG EXITThe %K line crosses below the %D line.
2024-10-17WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
MFI SHORT ENTRY LONG CLOSE80 crossover to downside
2024-10-18STOCH SHORT EXITThe %K line crosses above the %D line.
2024-10-21MFI LONG ENTRY SHORT CLOSE80 crossover to upside
2024-10-22STOCH LONG EXITThe %K line crosses below the %D line.
2024-10-23RSI SHORT ENTRY LONG CLOSE70 crossover to downside
2024-10-25MFI SHORT ENTRY LONG CLOSE80 crossover to downside
2024-10-28STOCH SHORT EXITThe %K line crosses above the %D line.
2024-10-30CCI LONG ENTRY SHORT CLOSE100 crossover to upside
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2024-10-31MACD SHORT ENTRY LONG CLOSEThe MACD line crosses below the signal line.
RSI SHORT ENTRY LONG CLOSE70 crossover to downside
STOCH LONG EXITThe %K line crosses below the %D line.
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2024-11-01SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
2024-11-04STOCH SHORT EXITThe %K line crosses above the %D line.

6.3. Candlestick Patterns

Backblaze Inc Daily Candlestick Chart
DateCandlestick Pattern

6.4. Technical Score

Let's check the technical score of Backblaze Inc based on Penke's default Symbol scanner.

Penke's Symbol Scanner

  
  
IndicatorConditionValue
RsiGreater than5060.039
Ma 20Greater thanMa 507.161
Ma 50Greater thanMa 1006.538
Ma 100Greater thanMa 2006.364
OpenGreater thanClose7.180
Total3/5 (60.0%)
Penke
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