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

BlackSky Technology Inc. (NYSE:BKSY) gapped up before the market opened 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 Buying and Selling

In other BlackSky Technology news, CEO Brian E. O’toole sold 24,352 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 479,785 shares in the company, valued at $3,449,654.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other BlackSky Technology news, CAO Christiana L. Lin sold 13,031 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $7.19, for a total transaction of $93,692.89. Following the completion of the transaction, the chief accounting officer now owns 190,775 shares in the company, valued at $1,371,672.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian E. O’toole sold 24,352 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 $175,090.88. Following the transaction, the chief executive officer now owns 479,785 shares of the company’s stock, valued at approximately $3,449,654.15. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,362 shares of company stock worth $446,535. Insiders own 3.16% of the company’s stock.

Hedge Funds Weigh In On BlackSky Technology

A number of large investors have recently modified their holdings of BKSY. Vanguard Group Inc. boosted its position 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 valued at $7,197,000 after acquiring an additional 800,287 shares during the period. Squarepoint Ops LLC bought a new position in shares of BlackSky Technology in the second quarter valued at approximately $295,000. GSA Capital Partners LLP lifted its position in BlackSky Technology by 123.8% during the first quarter. GSA Capital Partners LLP now owns 315,900 shares of the company’s stock valued at $430,000 after purchasing an additional 174,773 shares during the last quarter. LA Financiere DE L Echiquier lifted 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 valued at $998,000 after purchasing an additional 112,000 shares during the last quarter. Finally, Virtu Financial LLC lifted its position in BlackSky Technology by 134.5% during the first quarter. Virtu Financial LLC now owns 145,514 shares of the company’s stock valued at $198,000 after purchasing an additional 83,462 shares during the last quarter. 27.15% of the stock is currently owned by institutional investors.

BlackSky Technology Trading Down 1.5 %

The firm has a market capitalization of $685.70 million, a P/E ratio of -12.46 and a beta of 1.00. The company has a quick ratio of 4.19, a current ratio of 4.19 and a debt-to-equity ratio of 1.41. The firm’s 50-day simple moving average is $7.72 and its 200-day simple moving average is $8.78.

BlackSky Technology (NYSE:BKSY) last announced its earnings results on Thursday, August 8th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $24.94 million during the quarter, compared to analyst estimates of $25.14 million. During the same period in the previous year, the business posted ($1.92) earnings per share. Analysts anticipate that BlackSky Technology Inc. will post -2.59 EPS for the current year.

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.