BlackSky Technology (NYSE:BKSY) CEO Sells 56,280 Shares of Stock

BlackSky Technology Inc. (NYSE:BKSY) CEO Brian O’toole sold 56,280 shares of the business’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $20.95, for a total transaction of $1,179,066.00. Following the transaction, the chief executive officer owned 1,063,396 shares of the company’s stock, valued at $22,278,146.20. This trade represents a 5.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

BlackSky Technology Price Performance

Shares of BKSY stock traded up $0.18 on Monday, reaching $20.79. The company’s stock had a trading volume of 943,116 shares, compared to its average volume of 1,679,813. 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 company has a market capitalization of $850.89 million, a P/E ratio of -11.43 and a beta of 2.61. The stock’s 50 day simple moving average is $24.69 and its 200-day simple moving average is $29.69.

BlackSky Technology (NYSE:BKSY) last posted its earnings results on Thursday, August 6th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.16). The business 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, equities analysts predict that BlackSky Technology Inc. will post -1.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BKSY. Tidal Investments LLC bought a new stake in BlackSky Technology during the 2nd quarter valued at $39,289,000. Integrated Wealth Concepts LLC bought a new stake in shares of BlackSky Technology in the 2nd quarter worth approximately $216,000. Squarepoint Ops LLC bought a new position in shares of BlackSky Technology during the second quarter valued at approximately $1,127,000. Connective Capital Management LLC bought a new position in BlackSky Technology in the second quarter worth about $400,000. Finally, Arizona State Retirement System purchased a new stake in BlackSky Technology in the second quarter worth about $236,000. Institutional investors own 27.15% of the company’s stock.

Wall Street Analysts Forecast Growth

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

About BlackSky Technology

BlackSky Technology Inc is a space-based intelligence and geospatial analytics company that provides timely Earth-observation data and analysis to government and commercial customers. The company operates a satellite constellation designed to collect high-resolution imagery and support persistent monitoring of locations and activities around the world.

BlackSky’s offerings include satellite imagery, automated change detection, geospatial intelligence, and artificial intelligence-powered analytics.