Griffin Asset Management Inc. Purchases 5,294 Shares of BlackSky Technology Inc. $BKSY

Griffin Asset Management Inc. lifted its position in BlackSky Technology Inc. (NYSE:BKSY) by 12.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,110 shares of the company’s stock after buying an additional 5,294 shares during the quarter. Griffin Asset Management Inc. owned about 0.15% of BlackSky Technology worth $990,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in BKSY. Nuveen LLC bought a new position in shares of BlackSky Technology in the first quarter valued at $9,582,000. Goldman Sachs Group Inc. grew its stake in shares of 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 buying an additional 432,023 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of BlackSky Technology in the first quarter valued at $1,728,000. Jump Financial LLC bought a new position in shares of BlackSky Technology in the first quarter valued at $1,626,000. Finally, 1492 Capital Management LLC bought a new position in shares of BlackSky Technology in the first quarter valued at $725,000. 27.15% of the stock is owned by institutional investors.

Insider Transactions at BlackSky Technology

In other news, CAO Christiana L. Lin sold 24,036 shares of BlackSky Technology stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $17.45, for a total transaction of $419,428.20. Following the completion of the sale, the chief accounting officer owned 402,652 shares of the company’s stock, valued at approximately $7,026,277.40. This trade represents a 5.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Henry Edward Dubois sold 31,646 shares of BlackSky Technology stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $17.45, for a total value of $552,222.70. Following the sale, the chief financial officer directly owned 474,582 shares of the company’s stock, valued at $8,281,455.90. This represents a 6.25% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 89,694 shares of company stock valued at $1,565,160. 3.80% of the stock is currently owned by corporate insiders.

BlackSky Technology Stock Down 10.8%

BKSY opened at $26.72 on Monday. BlackSky Technology Inc. has a fifty-two week low of $5.85 and a fifty-two week high of $31.79. The company has a debt-to-equity ratio of 1.35, a quick ratio of 3.71 and a current ratio of 3.71. The company has a market capitalization of $947.76 million, a P/E ratio of -7.95 and a beta of 2.22. The stock has a fifty day moving average of $19.64 and a 200-day moving average of $15.61.

BlackSky Technology (NYSE:BKSY) last posted its earnings results on Thursday, August 7th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.03). BlackSky Technology had a negative return on equity of 52.27% and a negative net margin of 82.04%.The firm had revenue of $22.20 million for the quarter, compared to analyst estimates of $22.17 million. BlackSky Technology has set its FY 2025 guidance at EPS. On average, equities analysts expect that BlackSky Technology Inc. will post -2.28 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Lake Street Capital raised their price target on BlackSky Technology from $18.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BlackSky Technology in a report on Wednesday, October 8th. HC Wainwright raised their price target on BlackSky Technology from $28.00 to $42.00 and gave the company a “buy” rating in a report on Friday. Wall Street Zen downgraded BlackSky Technology from a “hold” rating to a “strong sell” rating in a report on Saturday, August 9th. Finally, Canaccord Genuity Group cut their price target on BlackSky Technology from $28.00 to $27.00 and set a “buy” rating for the company in a report on Tuesday, July 22nd. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $29.00.

BlackSky Technology Company Profile

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.