BlackSky Technology (NYSE:BKSY) Sees Unusually-High Trading Volume – Still a Buy?

22 Oct 2024, 21:30 by Tristan Rich · The Markets Daily

Shares of BlackSky Technology Inc. (NYSE:BKSY – Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 530,284 shares were traded during trading, an increase of 155% from the previous session’s volume of 208,091 shares.The stock last traded at $6.30 and had previously closed at $6.41.

Analyst Upgrades and Downgrades

BKSY has been the subject of several recent research reports. Lake Street Capital boosted their target price on shares of BlackSky Technology from $4.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Craig Hallum upgraded shares of BlackSky Technology from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Friday, October 4th. HC Wainwright cut their target price on BlackSky Technology from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Finally, Oppenheimer initiated coverage on BlackSky Technology in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $10.00 price target for the company. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, BlackSky Technology currently has an average rating of “Buy” and an average price target of $17.60.

Get Our Latest Research Report on BlackSky Technology

BlackSky Technology Stock Down 1.1 %

The firm has a market capitalization of $930.90 million, a price-to-earnings ratio of -16.71 and a beta of 0.97. The company has a debt-to-equity ratio of 1.41, a quick ratio of 4.19 and a current ratio of 4.19. The business’s 50 day moving average is $6.92 and its 200-day moving average is $8.26.

BlackSky Technology (NYSE:BKSY – Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.72) by $0.24. BlackSky Technology had a negative return on equity of 56.91% and a negative net margin of 26.78%. The company had revenue of $24.94 million for the quarter, compared to the consensus estimate of $25.14 million. During the same period last year, the business posted ($1.92) earnings per share. Equities analysts anticipate that BlackSky Technology Inc. will post -2.33 EPS for the current fiscal year.

Insider Transactions at BlackSky Technology

In other BlackSky Technology news, CFO Henry Edward Dubois sold 23,590 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $7.19, for a total value of $169,612.10. Following the completion of the sale, the chief financial officer now directly owns 231,645 shares of the company’s stock, valued at $1,665,527.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other BlackSky Technology news, CFO Henry Edward Dubois sold 23,590 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $7.19, for a total value of $169,612.10. Following the completion of the transaction, the chief financial officer now owns 231,645 shares of the company’s stock, valued at $1,665,527.55. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Christiana L. Lin sold 13,031 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $7.19, for a total value of $93,692.89. Following the completion of the sale, the chief accounting officer now owns 190,775 shares of the company’s stock, valued at $1,371,672.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,362 shares of company stock worth $446,535 over the last three months. 3.16% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BlackSky Technology

Institutional investors and hedge funds have recently bought and sold shares of the business. GSA Capital Partners LLP boosted its position in shares of BlackSky Technology by 123.8% during the 1st quarter. GSA Capital Partners LLP now owns 315,900 shares of the company’s stock valued at $430,000 after acquiring an additional 174,773 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of BlackSky Technology by 17.8% during the first quarter. Vanguard Group Inc. now owns 5,291,909 shares of the company’s stock valued at $7,197,000 after acquiring an additional 800,287 shares during the period. Virtu Financial LLC grew its holdings in shares of BlackSky Technology by 134.5% in the 1st quarter. Virtu Financial LLC now owns 145,514 shares of the company’s stock worth $198,000 after purchasing an additional 83,462 shares during the last quarter. LA Financiere DE L Echiquier lifted its holdings in BlackSky Technology by 13.6% during the 2nd quarter. LA Financiere DE L Echiquier now owns 933,000 shares of the company’s stock valued at $998,000 after purchasing an additional 112,000 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in BlackSky Technology in the second quarter valued at about $295,000. Institutional investors own 27.15% of the company’s stock.

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