BlackSky Technology (NYSE:BKSY) Trading 4.6% Higher – Still a Buy?

BlackSky Technology Inc. (NYSE:BKSY)’s share price shot up 4.6% on Monday . The company traded as high as $6.42 and last traded at $6.39. 310,771 shares were traded during mid-day trading, an increase of 52% from the average session volume of 203,902 shares. The stock had previously closed at $6.11.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BKSY. Lake Street Capital boosted their price objective on shares of BlackSky Technology from $4.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. HC Wainwright reduced their price objective on shares of BlackSky Technology from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Oppenheimer started coverage on shares of BlackSky Technology in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $10.00 target price on the stock. Finally, Craig Hallum raised shares of BlackSky Technology from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a report on Friday, October 4th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $17.60.

BlackSky Technology Trading Down 3.5 %

The company has a current ratio of 4.19, a quick ratio of 4.19 and a debt-to-equity ratio of 1.41. The business’s fifty day simple moving average is $6.88 and its two-hundred day simple moving average is $8.23. The stock has a market capitalization of $898.60 million, a P/E ratio of -16.11 and a beta of 0.97.

BlackSky Technology (NYSE:BKSY) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.48) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.24. 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 period in the prior year, the firm earned ($1.92) EPS. As a group, analysts forecast that BlackSky Technology Inc. will post -2.33 earnings per share for the current year.

Insider Activity

In other news, CAO Christiana L. Lin sold 13,031 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $7.19, for a total value of $93,692.89. Following the completion of the transaction, the chief accounting officer now owns 190,775 shares in the company, valued at approximately $1,371,672.25. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CAO Christiana L. Lin sold 13,031 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $7.19, for a total value of $93,692.89. Following the completion of the transaction, the chief accounting officer now owns 190,775 shares in the company, valued at approximately $1,371,672.25. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Henry Edward Dubois sold 23,590 shares of the 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 sale, the chief financial officer now owns 231,645 shares of the company’s stock, valued at $1,665,527.55. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 62,362 shares of company stock worth $446,535. 3.16% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BlackSky Technology

Hedge funds have recently made changes to their positions in the company. Virtu Financial LLC increased its position in shares of 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 purchasing an additional 83,462 shares in the last quarter. Squarepoint Ops LLC bought a new stake in BlackSky Technology during the 2nd quarter worth about $295,000. GSA Capital Partners LLP grew its holdings 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 during the last quarter. LA Financiere DE L Echiquier grew its holdings 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 during the last quarter. Finally, Vanguard Group Inc. grew its holdings in 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 acquiring an additional 800,287 shares during the last quarter. Institutional investors and hedge funds 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.