Divisadero Street Capital Management LP Raises Position in BlackSky Technology Inc. $BKSY

Divisadero Street Capital Management LP raised its position in BlackSky Technology Inc. (NYSE:BKSY) by 42.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 365,910 shares of the company’s stock after buying an additional 109,610 shares during the period. Divisadero Street Capital Management LP owned about 1.02% of BlackSky Technology worth $7,373,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BKSY. Alliancebernstein L.P. raised its holdings in shares of BlackSky Technology by 50.5% during the third quarter. Alliancebernstein L.P. now owns 34,873 shares of the company’s stock valued at $703,000 after acquiring an additional 11,700 shares during the last quarter. Raymond James Financial Inc. boosted its stake in shares of BlackSky Technology by 144.5% in the third quarter. Raymond James Financial Inc. now owns 16,377 shares of the company’s stock worth $330,000 after acquiring an additional 9,680 shares during the last quarter. California State Teachers Retirement System boosted its stake in shares of BlackSky Technology by 1,325.1% in the third quarter. California State Teachers Retirement System now owns 26,421 shares of the company’s stock worth $532,000 after acquiring an additional 24,567 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of BlackSky Technology during the third quarter worth approximately $206,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in shares of BlackSky Technology during the third quarter worth approximately $441,000. 27.15% of the stock is currently owned by hedge funds and other institutional investors.

BlackSky Technology Stock Performance

Shares of BlackSky Technology stock opened at $23.60 on Monday. The business’s 50 day moving average price is $23.59 and its 200 day moving average price is $21.17. The company has a market cap of $849.18 million, a price-to-earnings ratio of -10.97 and a beta of 2.44. The company has a debt-to-equity ratio of 2.08, a quick ratio of 3.89 and a current ratio of 3.89. BlackSky Technology Inc. has a one year low of $6.15 and a one year high of $33.20.

BlackSky Technology (NYSE:BKSY) last issued its earnings results on Thursday, February 26th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.06. BlackSky Technology had a negative return on equity of 54.86% and a negative net margin of 65.93%.The company had revenue of $35.21 million during the quarter, compared to analysts’ expectations of $37.13 million. On average, research analysts predict that BlackSky Technology Inc. will post -2.28 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Jefferies Financial Group assumed coverage on BlackSky Technology in a report on Monday, December 22nd. They issued a “buy” rating and a $23.00 price objective on the stock. Canaccord Genuity Group dropped their target price on shares of BlackSky Technology from $27.00 to $26.00 and set a “buy” rating for the company in a report on Friday, February 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of BlackSky Technology in a research report on Wednesday, January 21st. Finally, HC Wainwright reissued a “buy” rating and issued a $42.00 price target on shares of BlackSky Technology in a research note on Friday, February 27th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, BlackSky Technology has an average rating of “Moderate Buy” and an average target price of $27.40.

BlackSky Technology Profile

BlackSky Technology, Inc operates Earth observation and geospatial intelligence services through a constellation of small satellites and an analytics platform. The company collects and processes high-revisit satellite imagery, enabling near-real-time monitoring of global events and locations. Clients across government, defense and commercial sectors leverage BlackSky’s imagery and data to support decision-making in areas such as supply chain monitoring, humanitarian aid, infrastructure management and security operations.

Founded in 2014 as part of Spaceflight Industries, BlackSky has grown its satellite constellation and analytics capabilities to deliver satellite imagery with high revisit rates and rapid tasking.