BlackSky Technology (NYSE:BKSY) CEO Sells $436,600.00 in Stock

BlackSky Technology Inc. (NYSE:BKSY) CEO Brian O’toole sold 20,000 shares of the stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $21.83, for a total transaction of $436,600.00. Following the completion of the sale, the chief executive officer owned 1,119,676 shares of the company’s stock, valued at approximately $24,442,527.08. The trade was a 1.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

BlackSky Technology Trading Down 0.6%

BlackSky Technology stock opened at $20.63 on Friday. The company’s fifty day simple moving average is $24.69 and its 200-day simple moving average is $29.62. The company has a quick ratio of 5.72, a current ratio of 5.83 and a debt-to-equity ratio of 0.94. BlackSky Technology Inc. has a 12 month low of $12.41 and a 12 month high of $52.88. The stock has a market cap of $844.02 million, a P/E ratio of -11.33 and a beta of 2.61.

BlackSky Technology (NYSE:BKSY) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.16). The firm had revenue of $33.32 million for the quarter, compared to analysts’ expectations of $30.72 million. BlackSky Technology had a negative return on equity of 51.24% and a negative net margin of 61.24%. As a group, sell-side analysts forecast that BlackSky Technology Inc. will post -1.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BKSY. Arax Advisory Partners lifted its position in BlackSky Technology by 15.2% during the 4th quarter. Arax Advisory Partners now owns 5,985 shares of the company’s stock worth $112,000 after acquiring an additional 791 shares during the last quarter. IFP Advisors Inc grew its position in shares of BlackSky Technology by 57.9% in the third quarter. IFP Advisors Inc now owns 2,253 shares of the company’s stock valued at $45,000 after purchasing an additional 826 shares during the last quarter. Legal & General Group Plc grew its position in shares of BlackSky Technology by 40.5% in the second quarter. Legal & General Group Plc now owns 3,118 shares of the company’s stock valued at $64,000 after purchasing an additional 899 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of BlackSky Technology by 7.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,174 shares of the company’s stock worth $117,000 after purchasing an additional 1,015 shares during the period. Finally, Quarry LP bought a new position in shares of BlackSky Technology in the fourth quarter worth about $26,000. Institutional investors and hedge funds own 27.15% of the company’s stock.

Analysts Set New Price Targets

BKSY has been the subject of several recent research reports. Wall Street Zen raised BlackSky Technology from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BlackSky Technology in a research report on Friday, July 17th. Jefferies Financial Group upgraded shares of BlackSky Technology to a “hold” rating in a research note on Wednesday, June 10th. Finally, Clear Str raised shares of BlackSky Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, BlackSky Technology presently has an average rating of “Moderate Buy” and an average target price of $39.33.

About BlackSky Technology

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.