Wasatch Advisors LP Reduces Holdings in BlackSky Technology Inc. $BKSY

Wasatch Advisors LP decreased its holdings in shares of BlackSky Technology Inc. (NYSE:BKSY) by 29.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 285,883 shares of the company’s stock after selling 121,818 shares during the quarter. Wasatch Advisors LP owned about 0.77% of BlackSky Technology worth $7,193,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in BlackSky Technology in the fourth quarter valued at approximately $26,000. Strive Financial Group LLC purchased a new position in shares of BlackSky Technology during the fourth quarter worth $26,000. Wexford Capital LP acquired a new stake in shares of BlackSky Technology in the third quarter valued at $30,000. Global Retirement Partners LLC acquired a new stake in shares of BlackSky Technology in the fourth quarter valued at $28,000. Finally, IFP Advisors Inc raised its holdings in shares of BlackSky Technology by 57.9% in the 3rd quarter. IFP Advisors Inc now owns 2,253 shares of the company’s stock valued at $45,000 after buying an additional 826 shares during the period. Hedge funds and other institutional investors own 27.15% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on BKSY shares. Wall Street Zen cut shares of BlackSky Technology from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 16th. Weiss Ratings restated a “sell (d-)” rating on shares of BlackSky Technology in a report on Monday, April 20th. Finally, Jefferies Financial Group upgraded shares of BlackSky Technology to a “hold” rating in a report on Wednesday, June 10th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $36.50.

BlackSky Technology Stock Performance

Shares of BlackSky Technology stock opened at $24.82 on Friday. The business has a 50-day simple moving average of $37.30 and a 200-day simple moving average of $28.60. The company has a debt-to-equity ratio of 2.39, a quick ratio of 3.34 and a current ratio of 3.46. BlackSky Technology Inc. has a one year low of $12.41 and a one year high of $52.88. The company has a market cap of $920.92 million, a PE ratio of -9.73 and a beta of 2.52.

BlackSky Technology (NYSE:BKSY) last issued its earnings results on Thursday, May 7th. The company reported ($0.82) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.45). BlackSky Technology had a negative net margin of 89.07% and a negative return on equity of 74.25%. The firm had revenue of $20.77 million during the quarter, compared to analyst estimates of $27.60 million. On average, equities research analysts forecast that BlackSky Technology Inc. will post -1.32 EPS for the current fiscal year.

BlackSky Technology Company Profile

BlackSky Technology, Inc operates Earth observation and geospatial intelligence services through a constellation of small satellites and an analytics platform. The company collects and processes high-revisit satellite imagery, enabling near-real-time monitoring of global events and locations. Clients across government, defense and commercial sectors leverage BlackSky’s imagery and data to support decision-making in areas such as supply chain monitoring, humanitarian aid, infrastructure management and security operations.

Founded in 2014 as part of Spaceflight Industries, BlackSky has grown its satellite constellation and analytics capabilities to deliver satellite imagery with high revisit rates and rapid tasking.