AlphaQuest LLC Buys Shares of 13,473 BlackSky Technology Inc. $BKSY

AlphaQuest LLC bought a new stake in BlackSky Technology Inc. (NYSE:BKSY) during the 1st quarter, Holdings Channel.com reports. The fund bought 13,473 shares of the company’s stock, valued at approximately $104,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BKSY. Wells Fargo & Company MN grew its stake in BlackSky Technology by 158.7% in the fourth quarter. Wells Fargo & Company MN now owns 32,524 shares of the company’s stock valued at $351,000 after purchasing an additional 19,954 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of BlackSky Technology during the fourth quarter worth about $170,000. Barclays PLC grew its stake in shares of BlackSky Technology by 113.1% during the fourth quarter. Barclays PLC now owns 37,948 shares of the company’s stock worth $409,000 after acquiring an additional 20,142 shares during the last quarter. Dimensional Fund Advisors LP purchased a new stake in shares of BlackSky Technology during the fourth quarter worth about $378,000. Finally, MetLife Investment Management LLC purchased a new stake in shares of BlackSky Technology during the fourth quarter worth about $172,000. Hedge funds and other institutional investors own 27.15% of the company’s stock.

BlackSky Technology Trading Down 3.0%

BlackSky Technology stock opened at $17.03 on Wednesday. The company has a quick ratio of 3.71, a current ratio of 3.71 and a debt-to-equity ratio of 1.35. BlackSky Technology Inc. has a 52 week low of $3.86 and a 52 week high of $28.85. The company has a market capitalization of $604.05 million, a price-to-earnings ratio of -5.07 and a beta of 2.15. The stock has a 50-day moving average price of $19.78 and a 200 day moving average price of $13.81.

BlackSky Technology (NYSE:BKSY) last released its earnings results on Thursday, August 7th. The company reported ($0.52) EPS 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. Sell-side analysts anticipate that BlackSky Technology Inc. will post -2.28 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BKSY. Benchmark boosted their price target on BlackSky Technology from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, May 13th. Canaccord Genuity Group dropped their price target on BlackSky Technology from $28.00 to $27.00 and set a “buy” rating on the stock in a research note on Tuesday, July 22nd. HC Wainwright boosted their price target on BlackSky Technology from $20.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, July 21st. Wall Street Zen lowered BlackSky Technology from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 9th. Finally, Lake Street Capital boosted their price target on BlackSky Technology from $18.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Six equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $23.50.

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.