BlackSky Technology (NYSE:BKSY) Sees Large Volume Increase on Analyst Upgrade

BlackSky Technology Inc. (NYSE:BKSY) shares saw unusually-high trading volume on Monday after Lake Street Capital raised their price target on the stock from $4.00 to $32.00. Lake Street Capital currently has a buy rating on the stock. Approximately 122,109 shares traded hands during trading, a decline of 5% from the previous session’s volume of 128,179 shares.The stock last traded at $4.55 and had previously closed at $4.46.

Insiders Place Their Bets

In other BlackSky Technology news, CFO Henry Edward Dubois sold 23,590 shares of BlackSky Technology 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 $169,612.10. Following the transaction, the chief financial officer now directly owns 231,645 shares of the company’s stock, valued at approximately $1,665,527.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other BlackSky Technology news, CFO Henry Edward Dubois sold 23,590 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $7.19, for a total transaction of $169,612.10. Following the completion of the transaction, the chief financial officer now owns 231,645 shares of the company’s stock, valued at $1,665,527.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Christiana L. Lin sold 13,031 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $7.19, for a total transaction of $93,692.89. Following the transaction, the chief accounting officer now directly owns 190,775 shares of the company’s stock, valued at approximately $1,371,672.25. 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. Corporate insiders own 3.16% of the company’s stock.

Institutional Trading of BlackSky Technology

Several hedge funds and other institutional investors have recently bought and sold shares of BKSY. GSA Capital Partners LLP lifted its position in shares of 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 buying an additional 174,773 shares during the last quarter. Vanguard Group Inc. boosted its position in 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 in the last quarter. Virtu Financial LLC grew 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 buying an additional 83,462 shares during the period. LA Financiere DE L Echiquier increased its stake 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 valued at $998,000 after purchasing an additional 112,000 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of BlackSky Technology during the 2nd quarter valued at approximately $295,000. Hedge funds and other institutional investors own 27.15% of the company’s stock.

BlackSky Technology Price Performance

The firm’s 50-day moving average is $7.72 and its two-hundred day moving average is $8.78. The company has a debt-to-equity ratio of 1.41, a quick ratio of 4.19 and a current ratio of 4.19.

BlackSky Technology (NYSE:BKSY) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.48) EPS for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.24. The company had revenue of $24.94 million for the quarter, compared to analysts’ expectations 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 period in the prior year, the firm earned ($1.92) earnings per share. On average, sell-side analysts expect 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.