BlackSky Technology Stock to Reverse Split on Monday, September 9th (NYSE:BKSY)

BlackSky Technology Inc. (NYSE:BKSY) shares are going to reverse split on the morning of Monday, September 9th. The 1-8 reverse split was announced on Wednesday, September 4th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, September 6th.

BlackSky Technology Trading Down 20.6 %

NYSE:BKSY traded down $0.23 during mid-day trading on Thursday, hitting $0.88. 4,082,013 shares of the stock traded hands, compared to its average volume of 611,827. The stock has a market capitalization of $131.29 million, a price-to-earnings ratio of -2.32 and a beta of 1.00. BlackSky Technology has a 52 week low of $0.84 and a 52 week high of $1.77. The firm’s 50 day moving average is $1.09 and its two-hundred day moving average is $1.19. 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 (NYSE:BKSY) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.03. The company had revenue of $24.94 million for the quarter, compared to the consensus estimate of $25.14 million. BlackSky Technology had a negative net margin of 26.78% and a negative return on equity of 56.91%. During the same period in the prior year, the firm posted ($0.24) EPS. On average, equities research analysts predict that BlackSky Technology will post -0.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a “buy” rating and issued a $2.50 target price on shares of BlackSky Technology in a research note on Thursday, May 9th.

Hedge Funds Weigh In On BlackSky Technology

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of 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 purchasing an additional 800,287 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of BlackSky Technology in the 2nd quarter worth approximately $295,000. GSA Capital Partners LLP lifted its position in shares of 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 purchasing an additional 174,773 shares during the period. LA Financiere DE L Echiquier lifted its position in shares of 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 purchasing an additional 112,000 shares during the period. Finally, Virtu Financial LLC lifted its position in shares of 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 during the period. 27.15% of the stock is currently owned by institutional investors.

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.