BlackSky Technology (NYSE:BKSY) Shares Up 4.6% – Still a Buy?

by · The Markets Daily

BlackSky Technology Inc. (NYSE:BKSY – Get Free Report)’s share price rose 4.6% on Monday . The stock traded as high as $6.42 and last traded at $6.39. Approximately 310,771 shares traded hands during trading, an increase of 52% from the average daily volume of 203,902 shares. The stock had previously closed at $6.11.

Analyst Ratings Changes

BKSY has been the subject of several research reports. Oppenheimer initiated coverage on BlackSky Technology in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $10.00 target price for the company. HC Wainwright decreased their price objective on BlackSky Technology from $15.00 to $12.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Craig Hallum raised BlackSky Technology from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Friday, October 4th. Finally, Lake Street Capital upped 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. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $17.60.

Get Our Latest Analysis on BlackSky Technology

BlackSky Technology Stock Up 4.9 %

The company has a debt-to-equity ratio of 1.41, a current ratio of 4.19 and a quick ratio of 4.19. The stock has a 50 day simple moving average of $6.95 and a 200-day simple moving average of $8.29. The firm has a market cap of $941.18 million, a PE ratio of -17.13 and a beta of 0.97.

BlackSky Technology (NYSE:BKSY – Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $24.94 million during the quarter, compared to analyst estimates of $25.14 million. During the same quarter in the previous year, the firm earned ($1.92) EPS. Sell-side analysts predict that BlackSky Technology Inc. will post -2.52 EPS for the current fiscal year.

Insider Transactions at BlackSky Technology

In related news, CFO Henry Edward Dubois sold 23,590 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $7.19, for a total transaction of $169,612.10. Following the completion of the sale, the chief financial officer now owns 231,645 shares of the company’s stock, valued at $1,665,527.55. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other BlackSky Technology news, CEO Brian E. O’toole sold 24,352 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $7.19, for a total value of $175,090.88. Following the completion of the transaction, the chief executive officer now owns 479,785 shares of the company’s stock, valued at approximately $3,449,654.15. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Henry Edward Dubois sold 23,590 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $7.19, for a total transaction of $169,612.10. Following the sale, the chief financial officer now directly owns 231,645 shares in the company, valued at approximately $1,665,527.55. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 62,362 shares of company stock worth $446,535. Corporate insiders own 3.16% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC grew its position in 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 period. Squarepoint Ops LLC purchased a new position in shares of BlackSky Technology in the 2nd quarter worth $295,000. GSA Capital Partners LLP grew its holdings in shares of BlackSky Technology by 123.8% in the first quarter. GSA Capital Partners LLP now owns 315,900 shares of the company’s stock worth $430,000 after acquiring an additional 174,773 shares during the period. LA Financiere DE L Echiquier increased its position in BlackSky Technology by 13.6% during the second quarter. LA Financiere DE L Echiquier now owns 933,000 shares of the company’s stock valued at $998,000 after acquiring an additional 112,000 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in BlackSky Technology by 17.8% in 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. 27.15% of the stock is owned by hedge funds and other institutional investors.

About BlackSky Technology

(Get Free Report)

BlackSky Technology Inc provides geospatial intelligence, imagery and related data analytic products and services, and mission systems that include the development, integration, and operation of satellite and ground systems for government and commercial customers in North America, the Middle East, the Asia Pacific, and internationally.

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