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

Shares of 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 traded.

Insider Activity

In related news, 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 value of $93,692.89. Following the completion of the transaction, the chief accounting officer now directly owns 190,775 shares in the company, valued at approximately $1,371,672.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other BlackSky Technology news, CAO Christiana L. Lin sold 13,031 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $7.19, for a total value of $93,692.89. Following the sale, the chief accounting officer now directly owns 190,775 shares of the company’s stock, valued at $1,371,672.25. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Brian E. O’toole sold 24,352 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 transaction of $175,090.88. Following the completion of the sale, the chief executive officer now directly owns 479,785 shares in the company, valued at approximately $3,449,654.15. The disclosure for this sale can be found here. Insiders sold a total of 62,362 shares of company stock valued at $446,535 in the last quarter. 3.16% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BlackSky Technology

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of BlackSky Technology by 17.8% in the first 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 in the last quarter. Virtu Financial LLC grew its holdings in BlackSky Technology by 134.5% in the 1st quarter. Virtu Financial LLC now owns 145,514 shares of the company’s stock valued at $198,000 after buying an additional 83,462 shares in the last quarter. GSA Capital Partners LLP raised its holdings in shares of 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 period. Squarepoint Ops LLC acquired a new position in shares of BlackSky Technology during the 2nd quarter valued at about $295,000. Finally, LA Financiere DE L Echiquier increased its position in BlackSky Technology by 13.6% during the second 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 last quarter. Hedge funds and other institutional investors own 27.15% of the company’s stock.

BlackSky Technology Stock Up 9.1 %

The business’s 50 day simple moving average is $7.63 and its 200 day simple moving average is $8.74. The company has a debt-to-equity ratio of 1.41, a current ratio of 4.19 and a quick ratio of 4.19. The company has a market capitalization of $91.56 million, a PE ratio of -13.08 and a beta of 1.00.

BlackSky Technology (NYSE:BKSY) last posted its earnings results on Thursday, August 8th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 56.91% and a negative net margin of 26.78%. During the same quarter in the previous year, the business earned ($0.24) earnings per share. As a group, analysts anticipate that BlackSky Technology Inc. will post -2.52 earnings per share for the current fiscal year.

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.