BlackSky Technology (NYSE:BKSY) Shares Gap Up Following Analyst Upgrade

BlackSky Technology Inc. (NYSE:BKSY) gapped up prior to trading on Tuesday after Lake Street Capital raised their price target on the stock from $4.00 to $32.00. The stock had previously closed at $4.74, but opened at $4.86. Lake Street Capital currently has a buy rating on the stock. BlackSky Technology shares last traded at $4.75, with a volume of 156,978 shares.

Insider Activity at BlackSky Technology

In related news, CFO Henry Edward Dubois sold 23,590 shares of BlackSky Technology stock in a transaction on Tuesday, September 10th. The shares were 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 in the company, valued at $1,665,527.55. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Henry Edward Dubois sold 23,590 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $7.19, for a total transaction of $169,612.10. Following 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 SEC, which is accessible through this link. Also, CAO Christiana L. Lin sold 13,031 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $7.19, for a total transaction of $93,692.89. Following the sale, the chief accounting officer now owns 190,775 shares in the company, valued at approximately $1,371,672.25. The disclosure for this sale can be found here. Insiders have sold a total of 62,362 shares of company stock worth $446,535 over the last quarter. Corporate insiders own 3.16% of the company’s stock.

Hedge Funds Weigh In On BlackSky Technology

Hedge funds have recently bought and sold shares of the company. Virtu Financial LLC boosted its stake in BlackSky Technology by 134.5% in the 1st quarter. Virtu Financial LLC now owns 145,514 shares of the company’s stock worth $198,000 after purchasing an additional 83,462 shares in the last quarter. Squarepoint Ops LLC purchased a new position in BlackSky Technology in the 2nd quarter worth about $295,000. GSA Capital Partners LLP raised its position in BlackSky Technology by 123.8% in the 1st quarter. GSA Capital Partners LLP now owns 315,900 shares of the company’s stock worth $430,000 after buying an additional 174,773 shares during the last quarter. LA Financiere DE L Echiquier raised its position in BlackSky Technology by 13.6% in the 2nd quarter. LA Financiere DE L Echiquier now owns 933,000 shares of the company’s stock worth $998,000 after buying an additional 112,000 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in BlackSky Technology by 17.8% in the 1st quarter. Vanguard Group Inc. now owns 5,291,909 shares of the company’s stock worth $7,197,000 after buying an additional 800,287 shares during the last quarter. Institutional investors own 27.15% of the company’s stock.

BlackSky Technology Trading Down 1.5 %

The stock has a 50-day simple moving average of $7.72 and a two-hundred day simple moving average of $8.78. The company has a debt-to-equity ratio of 1.41, a quick ratio of 4.19 and a current ratio of 4.19. The firm has a market cap of $685.70 million, a PE ratio of -12.46 and a beta of 1.00.

BlackSky Technology (NYSE:BKSY) last issued its earnings results on Thursday, August 8th. The company reported ($0.48) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.24. BlackSky Technology had a negative return on equity of 56.91% and a negative net margin of 26.78%. The business had revenue of $24.94 million during the quarter, compared to analyst estimates of $25.14 million. During the same quarter in the previous year, the firm earned ($1.92) EPS. As a group, sell-side analysts anticipate that BlackSky Technology Inc. will post -2.59 EPS for the current year.

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.