Key Points
- BlackSky CAO Christiana Lin sold 13,052 shares at an average price of $20.95, generating $273,439.40. The sale covered tax withholding tied to vested equity awards and reduced her position by 2.96%.
- BlackSky shares opened at $20.79, well below the 52-week high of $52.88. The company recently reported an adjusted quarterly loss of $0.54 per share, missing estimates, despite revenue of $33.32 million exceeding expectations.
- Analyst views remain mixed, but the stock carries a “Moderate Buy” consensus rating and an average price target of $39.33. Institutional investors own 27.15% of the company.
BlackSky Technology Inc. (NYSE:BKSY - Get Free Report) CAO Christiana Lin sold 13,052 shares of BlackSky Technology stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $20.95, for a total value of $273,439.40. Following the transaction, the chief accounting officer owned 427,680 shares of the company's stock, valued at $8,959,896. The trade was a 2.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
BlackSky Technology Stock Performance
Shares of BKSY stock opened at $20.79 on Tuesday. BlackSky Technology Inc. has a 52-week low of $12.41 and a 52-week high of $52.88. The company has a quick ratio of 5.72, a current ratio of 5.83 and a debt-to-equity ratio of 0.94. The stock has a market cap of $850.99 million, a PE ratio of -11.43 and a beta of 2.61. The business has a 50-day simple moving average of $24.56 and a 200-day simple moving average of $29.70.
BlackSky Technology (NYSE:BKSY - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.16). The company had revenue of $33.32 million for the quarter, compared to analyst estimates of $30.72 million. BlackSky Technology had a negative return on equity of 51.24% and a negative net margin of 61.24%. On average, equities analysts expect that BlackSky Technology Inc. will post -1.09 EPS for the current year.
Hedge Funds Weigh In On BlackSky Technology
A number of hedge funds have recently bought and sold shares of the business. Tema ETFs LLC grew its holdings in BlackSky Technology by 110,505.8% in the second quarter. Tema ETFs LLC now owns 1,446,724 shares of the company's stock valued at $40,393,000 after purchasing an additional 1,445,416 shares during the period. Tidal Investments LLC acquired a new stake in shares of BlackSky Technology in the second quarter valued at about $39,289,000. AWM Investment Company Inc. acquired a new stake in shares of BlackSky Technology in the second quarter valued at about $33,504,000. California State Teachers Retirement System increased its stake in shares of BlackSky Technology by 3,612.6% during the second quarter. California State Teachers Retirement System now owns 976,055 shares of the company's stock worth $27,251,000 after purchasing an additional 949,765 shares in the last quarter. Finally, Daiwa Securities Group Inc. acquired a new position in shares of BlackSky Technology during the 4th quarter worth about $16,395,000. Hedge funds and other institutional investors own 27.15% of the company's stock.
Analysts Set New Price Targets
BKSY has been the subject of several recent research reports. Clear Str raised shares of BlackSky Technology from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. Weiss Ratings reissued a "sell (d-)" rating on shares of BlackSky Technology in a report on Friday, July 17th. Wall Street Zen raised shares of BlackSky Technology from a "strong sell" rating to a "sell" rating in a report on Saturday, August 15th. Finally, Jefferies Financial Group upgraded shares of BlackSky Technology to a "hold" rating in a research report on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, BlackSky Technology has an average rating of "Moderate Buy" and an average price target of $39.33.
Check Out Our Latest Analysis on BlackSky Technology
About BlackSky Technology
(
Get Free Report)
BlackSky Technology Inc is a space-based intelligence and geospatial analytics company that provides timely Earth-observation data and analysis to government and commercial customers. The company operates a satellite constellation designed to collect high-resolution imagery and support persistent monitoring of locations and activities around the world.
BlackSky's offerings include satellite imagery, automated change detection, geospatial intelligence, and artificial intelligence-powered analytics.
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