BlackSky Technology (NYSE:BKSY) Lifted to Buy at Craig Hallum

BlackSky Technology (NYSE:BKSY) was upgraded by analysts at Craig Hallum from a “hold” rating to a “buy” rating in a research report issued on Friday, FinViz reports. The firm currently has a $10.00 price target on the stock. Craig Hallum’s target price would indicate a potential upside of 100.40% from the stock’s current price.

Several other research analysts also recently weighed in on BKSY. Lake Street Capital boosted their target price on shares of BlackSky Technology from $4.00 to $32.00 and gave the company a “buy” rating in a research note on Monday. Oppenheimer began coverage on BlackSky Technology in a report on Wednesday. They issued an “outperform” rating and a $10.00 price target for the company. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $11.50.

BlackSky Technology Stock Performance

NYSE:BKSY opened at $4.99 on Friday. The company has a market capitalization of $732.68 million, a PE ratio of -13.13 and a beta of 0.97. The company has a quick ratio of 4.19, a current ratio of 4.19 and a debt-to-equity ratio of 1.41. BlackSky Technology has a 52-week low of $3.86 and a 52-week high of $14.16. The stock has a fifty day simple moving average of $2.64 and a 200-day simple moving average of $1.68.

BlackSky Technology (NYSE:BKSY) last announced its earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.03. BlackSky Technology had a negative net margin of 26.78% and a negative return on equity of 56.91%. The firm had revenue of $24.94 million during the quarter, compared to the consensus estimate of $25.14 million. During the same quarter in the previous year, the company posted ($0.24) EPS. On average, equities research analysts expect that BlackSky Technology will post -2.52 earnings per share for the current fiscal year.

Insider Buying and Selling at BlackSky Technology

In other news, CFO Henry Edward Dubois sold 23,590 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 transaction of $169,612.10. Following the completion of the sale, the chief financial officer now owns 231,645 shares in the company, valued at approximately $1,665,527.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Christiana L. Lin sold 13,031 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 transaction of $93,692.89. Following the completion of the sale, the chief accounting officer now owns 190,775 shares in the company, valued at approximately $1,371,672.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Henry Edward Dubois sold 23,590 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 $169,612.10. Following the sale, the chief financial officer now owns 231,645 shares of the company’s stock, valued at approximately $1,665,527.55. The disclosure for this sale can be found here. Insiders sold 62,362 shares of company stock worth $446,535 in the last 90 days. 3.16% of the stock is owned by company insiders.

Institutional Trading of BlackSky Technology

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of BlackSky Technology by 17.8% during the 1st quarter. Vanguard Group Inc. now owns 5,291,909 shares of the company’s stock worth $7,197,000 after purchasing an additional 800,287 shares during the period. Virtu Financial LLC lifted its position in BlackSky Technology by 134.5% during the 1st quarter. Virtu Financial LLC now owns 145,514 shares of the company’s stock worth $198,000 after acquiring an additional 83,462 shares in the last quarter. GSA Capital Partners LLP lifted its position in BlackSky Technology by 123.8% during the 1st 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 in the last quarter. Squarepoint Ops LLC acquired a new position in BlackSky Technology during the 2nd quarter worth approximately $295,000. Finally, LA Financiere DE L Echiquier lifted its position in BlackSky Technology by 13.6% during the 2nd quarter. LA Financiere DE L Echiquier now owns 933,000 shares of the company’s stock worth $998,000 after acquiring an additional 112,000 shares in the last quarter. Hedge funds and other institutional investors own 27.15% of the company’s stock.

About BlackSky Technology

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.