BlackSky Technology (NYSE:BKSY) Shares Gap Up on Analyst Upgrade

Shares of BlackSky Technology Inc. (NYSE:BKSY) gapped up prior to trading on Tuesday after Lake Street Capital raised their price target on the stock from $4.00 to $32.00. The stock had previously closed at $4.74, but opened at $4.86. Lake Street Capital currently has a buy rating on the stock. BlackSky Technology shares last traded at $4.75, with a volume of 156,978 shares trading hands.

Insider Activity at BlackSky Technology

In related news, CAO Christiana L. Lin sold 13,031 shares of the company’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 value of $93,692.89. Following the sale, the chief accounting officer now owns 190,775 shares of the company’s stock, valued at approximately $1,371,672.25. The transaction was disclosed in a filing with the SEC, which is available through this link. In other BlackSky Technology news, CAO Christiana L. Lin sold 13,031 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 $93,692.89. Following the transaction, the chief accounting officer now owns 190,775 shares of the company’s stock, valued at approximately $1,371,672.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Henry Edward Dubois sold 23,590 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 value of $169,612.10. Following the transaction, the chief financial officer now directly owns 231,645 shares in the company, valued at approximately $1,665,527.55. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,362 shares of company stock valued at $446,535. 3.16% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Virtu Financial LLC increased its holdings in BlackSky Technology by 134.5% in 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 in the last quarter. Squarepoint Ops LLC acquired a new stake in BlackSky Technology in the 2nd quarter valued at $295,000. GSA Capital Partners LLP increased its holdings in BlackSky Technology by 123.8% in 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 in the last quarter. LA Financiere DE L Echiquier increased its holdings in 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, Vanguard Group Inc. increased its holdings in BlackSky Technology by 17.8% in 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 in the last quarter. 27.15% of the stock is owned by hedge funds and other institutional investors.

BlackSky Technology Price Performance

The firm has a fifty day moving average of $7.72 and a 200-day moving average of $8.78. The company has a debt-to-equity ratio of 1.41, a current ratio of 4.19 and a quick ratio of 4.19.

BlackSky Technology (NYSE:BKSY) last announced its earnings results on Thursday, August 8th. The company reported ($0.48) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.24. The company had revenue of $24.94 million during the quarter, compared to the consensus estimate 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) earnings per share. On average, analysts forecast that BlackSky Technology Inc. will post -2.52 earnings per share for the current 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.