Barclays PLC Lowers Stock Holdings in BlackSky Technology Inc. (NYSE:BKSY)

Barclays PLC trimmed its holdings in shares of BlackSky Technology Inc. (NYSE:BKSY) by 54.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 17,806 shares of the company’s stock after selling 21,247 shares during the period. Barclays PLC’s holdings in BlackSky Technology were worth $84,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Squarepoint Ops LLC purchased a new position in shares of BlackSky Technology in the second quarter worth about $295,000. Perkins Capital Management Inc. purchased a new stake in BlackSky Technology during the 3rd quarter valued at about $1,114,000. Finally, Thompson Siegel & Walmsley LLC acquired a new stake in BlackSky Technology in the 3rd quarter valued at about $3,674,000. Hedge funds and other institutional investors own 27.15% of the company’s stock.

Insider Activity

In related news, CFO Henry Edward Dubois sold 7,938 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $10.65, for a total transaction of $84,539.70. Following the sale, the chief financial officer now directly owns 420,779 shares of the company’s stock, valued at $4,481,296.35. This represents a 1.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Christiana L. Lin sold 5,550 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $10.65, for a total transaction of $59,107.50. Following the completion of the transaction, the chief accounting officer now directly owns 354,143 shares of the company’s stock, valued at $3,771,622.95. This represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,086 shares of company stock valued at $245,866. Company insiders own 4.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BKSY shares. Lake Street Capital boosted their target price on BlackSky Technology from $4.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, September 30th. HC Wainwright dropped their target price on BlackSky Technology from $15.00 to $12.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Craig Hallum upgraded BlackSky Technology from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Friday, October 4th. Finally, Oppenheimer assumed coverage on shares of BlackSky Technology in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $10.00 price objective for the company. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $17.60.

BlackSky Technology Price Performance

BKSY stock opened at $10.11 on Friday. BlackSky Technology Inc. has a 52-week low of $3.86 and a 52-week high of $14.16. The business has a fifty day moving average of $10.06 and a two-hundred day moving average of $8.40. The stock has a market cap of $311.18 million, a price-to-earnings ratio of -4.47 and a beta of 1.16. The company has a quick ratio of 5.68, a current ratio of 5.68 and a debt-to-equity ratio of 0.89.

BlackSky Technology (NYSE:BKSY) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.05). The company had revenue of $22.55 million during the quarter, compared to analysts’ expectations of $26.93 million. BlackSky Technology had a negative net margin of 38.83% and a negative return on equity of 49.91%. During the same quarter last year, the firm posted ($0.96) earnings per share. As a group, research analysts anticipate that BlackSky Technology Inc. will post -2.28 earnings per share for the current 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.