BlackSky Technology Inc. $BKSY Shares Bought by Divisadero Street Capital Management LP

Divisadero Street Capital Management LP grew its position in BlackSky Technology Inc. (NYSE:BKSY) by 42.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 365,910 shares of the company’s stock after buying an additional 109,610 shares during the period. Divisadero Street Capital Management LP’s holdings in BlackSky Technology were worth $7,373,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Goldman Sachs Group Inc. lifted its holdings in BlackSky Technology by 343.7% in the first quarter. Goldman Sachs Group Inc. now owns 557,729 shares of the company’s stock valued at $4,311,000 after acquiring an additional 432,023 shares during the last quarter. Portolan Capital Management LLC acquired a new stake in BlackSky Technology during the third quarter worth $7,855,000. Jump Financial LLC increased its stake in BlackSky Technology by 128.2% during the second quarter. Jump Financial LLC now owns 480,048 shares of the company’s stock worth $9,879,000 after acquiring an additional 269,700 shares during the last quarter. LBP AM SA raised its position in BlackSky Technology by 220.8% in the third quarter. LBP AM SA now owns 362,174 shares of the company’s stock valued at $7,298,000 after purchasing an additional 249,269 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of BlackSky Technology by 94.9% in the 2nd quarter. Invesco Ltd. now owns 423,845 shares of the company’s stock valued at $8,723,000 after purchasing an additional 206,371 shares during the last quarter. Institutional investors and hedge funds own 27.15% of the company’s stock.

Wall Street Analyst Weigh In

BKSY has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of BlackSky Technology in a report on Wednesday, January 21st. Canaccord Genuity Group decreased their target price on shares of BlackSky Technology from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. HC Wainwright reaffirmed a “buy” rating and set a $42.00 target price on shares of BlackSky Technology in a research note on Friday, February 27th. Finally, Jefferies Financial Group assumed coverage on shares of BlackSky Technology in a research report on Monday, December 22nd. They set a “buy” rating and a $23.00 price target for the company. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $27.40.

BlackSky Technology Price Performance

BKSY stock opened at $23.60 on Monday. The business’s fifty day moving average price is $23.59 and its 200 day moving average price is $21.17. BlackSky Technology Inc. has a 12-month low of $6.15 and a 12-month high of $33.20. The company has a market capitalization of $849.18 million, a PE ratio of -10.97 and a beta of 2.44. The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 2.08.

BlackSky Technology (NYSE:BKSY) last released its earnings results on Thursday, February 26th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.06. The company had revenue of $35.21 million during the quarter, compared to the consensus estimate of $37.13 million. BlackSky Technology had a negative return on equity of 54.86% and a negative net margin of 65.93%. On average, sell-side analysts anticipate that BlackSky Technology Inc. will post -2.28 EPS for the current year.

About BlackSky Technology

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.