BlackSky Technology (NYSE:BKSY) CEO Sells 20,000 Shares

BlackSky Technology Inc. (NYSE:BKSY) CEO Brian O’toole sold 20,000 shares of the stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $21.83, for a total transaction of $436,600.00. Following the sale, the chief executive officer directly owned 1,119,676 shares in the company, valued at $24,442,527.08. This represents a 1.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

BlackSky Technology Stock Down 3.9%

Shares of NYSE BKSY traded down $0.84 during midday trading on Thursday, hitting $20.77. The company’s stock had a trading volume of 641,188 shares, compared to its average volume of 1,688,361. The business’s fifty day simple moving average is $24.98 and its two-hundred day simple moving average is $29.68. The company has a debt-to-equity ratio of 0.94, a current ratio of 5.83 and a quick ratio of 5.72. BlackSky Technology Inc. has a 1 year low of $12.41 and a 1 year high of $52.88. The firm has a market capitalization of $849.99 million, a price-to-earnings ratio of -11.41 and a beta of 2.61.

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

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its position in shares of BlackSky Technology by 392.8% during the 4th quarter. Bank of New York Mellon Corp now owns 2,072,543 shares of the company’s stock worth $38,860,000 after purchasing an additional 1,652,014 shares during the last quarter. Tema ETFs LLC increased its holdings in BlackSky Technology by 110,505.8% in the second quarter. Tema ETFs LLC now owns 1,446,724 shares of the company’s stock valued at $40,393,000 after buying an additional 1,445,416 shares during the last quarter. Tidal Investments LLC purchased a new position in BlackSky Technology in the second quarter valued at $39,289,000. AWM Investment Company Inc. acquired a new stake in BlackSky Technology in the second quarter valued at $33,504,000. Finally, California State Teachers Retirement System raised its stake in BlackSky Technology by 3,612.6% in the second quarter. California State Teachers Retirement System now owns 976,055 shares of the company’s stock valued at $27,251,000 after buying an additional 949,765 shares in the last quarter. Hedge funds and other institutional investors own 27.15% of the company’s stock.

BlackSky Technology Company 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.