BlackSky Technology (NYSE:BKSY) Trading 4.5% Higher – Still a Buy?

BlackSky Technology Inc. (NYSE:BKSY) shares traded up 4.5% on Thursday . The company traded as high as $23.11 and last traded at $23.2580. Approximately 286,428 shares changed hands during trading, a decline of 83% from the average session volume of 1,646,798 shares. The stock had previously closed at $22.25.

Analysts Set New Price Targets

BKSY has been the topic of a number of research reports. Clear Str upgraded BlackSky Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Wall Street Zen upgraded BlackSky Technology from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. Jefferies Financial Group raised shares of BlackSky Technology to a “hold” rating in a research report on Wednesday, June 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of BlackSky Technology in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, BlackSky Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.33.

BlackSky Technology Stock Performance

The business has a 50-day simple moving average of $24.12 and a 200 day simple moving average of $29.73. The company has a debt-to-equity ratio of 0.94, a current ratio of 5.83 and a quick ratio of 5.72. The firm has a market cap of $952.32 million, a PE ratio of -12.84 and a beta of 2.61.

BlackSky Technology (NYSE:BKSY) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.16). The company had revenue of $33.32 million for the quarter, compared to analysts’ expectations of $30.72 million. BlackSky Technology had a negative net margin of 61.24% and a negative return on equity of 51.24%. Equities research analysts forecast that BlackSky Technology Inc. will post -1.09 EPS for the current year.

Insider Buying and Selling at BlackSky Technology

In related news, CEO Brian E. O’toole sold 56,280 shares of BlackSky Technology stock in a transaction on Friday, September 11th. The shares were sold at an average price of $20.95, for a total transaction of $1,179,066.00. Following the transaction, the chief executive officer owned 1,063,396 shares in the company, valued at approximately $22,278,146.20. The trade was a 5.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Henry Dubois sold 15,225 shares of the company’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $20.95, for a total transaction of $318,963.75. Following the completion of the transaction, the chief financial officer directly owned 482,931 shares of the company’s stock, valued at $10,117,404.45. This represents a 3.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 138,557 shares of company stock valued at $2,991,269 over the last 90 days. 5.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BlackSky Technology

Several large investors have recently made changes to their positions in the business. Sei Investments Co. raised its stake in BlackSky Technology by 125.5% during the 1st quarter. Sei Investments Co. now owns 65,650 shares of the company’s stock valued at $1,652,000 after purchasing an additional 36,541 shares during the period. Jasper Ridge Partners L.P. bought a new stake in shares of BlackSky Technology during the second quarter valued at approximately $2,087,000. Tema ETFs LLC lifted its holdings in shares of BlackSky Technology by 110,505.8% in the second quarter. Tema ETFs LLC now owns 1,446,724 shares of the company’s stock worth $40,393,000 after buying an additional 1,445,416 shares in the last quarter. Tidal Investments LLC purchased a new position in shares of BlackSky Technology in the second quarter worth $39,289,000. Finally, Bank of America Corp DE grew its stake in BlackSky Technology by 156.1% during the first quarter. Bank of America Corp DE now owns 412,891 shares of the company’s stock valued at $10,388,000 after acquiring an additional 251,638 shares in the last quarter. 27.15% of the stock is currently owned by hedge funds and other institutional investors.

About BlackSky Technology

BlackSky Technology Inc is a space-based intelligence and geospatial analytics company that provides timely Earth-observation data and analysis to government and commercial customers. The company operates a satellite constellation designed to collect high-resolution imagery and support persistent monitoring of locations and activities around the world.

BlackSky’s offerings include satellite imagery, automated change detection, geospatial intelligence, and artificial intelligence-powered analytics.