BlackSky Technology (NYSE:BKSY) Sees Strong Trading Volume on Analyst Upgrade

Shares of BlackSky Technology Inc. (NYSE:BKSY) 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 were traded 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.

Insider Activity at BlackSky Technology

In related news, CFO Henry Edward Dubois sold 23,590 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 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 approximately $1,665,527.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other BlackSky Technology news, CEO Brian E. O’toole sold 24,352 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $7.19, for a total transaction of $175,090.88. Following the sale, the chief executive officer now directly owns 479,785 shares in the company, valued at approximately $3,449,654.15. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Henry Edward Dubois sold 23,590 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $7.19, for a total value of $169,612.10. Following the sale, the chief financial officer now owns 231,645 shares in the company, valued at $1,665,527.55. 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 90 days. Corporate insiders own 3.16% of the company’s stock.

Institutional Trading of BlackSky Technology

Several institutional investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC purchased a new stake in BlackSky Technology during the 2nd quarter valued at $295,000. LA Financiere DE L Echiquier boosted its stake in BlackSky Technology by 13.6% during 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 during the last quarter. Virtu Financial LLC boosted its stake in BlackSky Technology by 134.5% during the 1st 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. Vanguard Group Inc. boosted its stake in BlackSky Technology by 17.8% during the 1st quarter. Vanguard Group Inc. now owns 5,291,909 shares of the company’s stock valued at $7,197,000 after purchasing an additional 800,287 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its stake in BlackSky Technology by 123.8% during the 1st 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. 27.15% of the stock is currently owned by hedge funds and other institutional investors.

BlackSky Technology Trading Down 4.9 %

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 stock has a 50 day moving average price of $7.72 and a 200-day moving average price of $8.78.

BlackSky Technology (NYSE:BKSY) last announced its 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 last year, the firm earned ($1.92) EPS. On average, equities research 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.