Great Lakes Advisors LLC Cuts Position in BlackSky Technology Inc. $BKSY

Great Lakes Advisors LLC cut its holdings in shares of BlackSky Technology Inc. (NYSE:BKSY) by 48.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 187,772 shares of the company’s stock after selling 179,804 shares during the quarter. Great Lakes Advisors LLC owned 0.53% of BlackSky Technology worth $3,784,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Geode Capital Management LLC boosted its holdings in BlackSky Technology by 7.3% in the second quarter. Geode Capital Management LLC now owns 612,919 shares of the company’s stock valued at $12,616,000 after acquiring an additional 41,922 shares in the last quarter. Goldman Sachs Group Inc. raised its position in BlackSky Technology by 343.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 557,729 shares of the company’s stock worth $4,311,000 after buying an additional 432,023 shares during the last quarter. Jump Financial LLC grew its holdings in shares of BlackSky Technology by 128.2% in the second quarter. Jump Financial LLC now owns 480,048 shares of the company’s stock worth $9,879,000 after acquiring an additional 269,700 shares during the period. Invesco Ltd. lifted its position in shares of BlackSky Technology by 94.9% in the second quarter. Invesco Ltd. now owns 423,845 shares of the company’s stock valued at $8,723,000 after acquiring an additional 206,371 shares in the last quarter. Finally, LBP AM SA boosted its stake in BlackSky Technology by 220.8% in the 3rd quarter. LBP AM SA now owns 362,174 shares of the company’s stock worth $7,298,000 after purchasing an additional 249,269 shares during the period. 27.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on BKSY. HC Wainwright increased their price objective on shares of BlackSky Technology from $28.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Jefferies Financial Group began coverage on shares of BlackSky Technology in a research report on Monday, December 22nd. They set a “buy” rating and a $23.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BlackSky Technology in a report on Wednesday, January 21st. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $28.00.

BlackSky Technology Price Performance

BlackSky Technology stock opened at $22.09 on Friday. The company has a debt-to-equity ratio of 2.08, a quick ratio of 3.89 and a current ratio of 3.89. The company’s fifty day moving average price is $21.54 and its 200 day moving average price is $20.59. The stock has a market capitalization of $795.09 million, a P/E ratio of -7.04 and a beta of 2.42. BlackSky Technology Inc. has a 1 year low of $6.15 and a 1 year high of $33.20.

BlackSky Technology (NYSE:BKSY) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.02. BlackSky Technology had a negative net margin of 87.11% and a negative return on equity of 54.48%. The business had revenue of $19.62 million for the quarter, compared to the consensus estimate of $28.67 million. As a group, equities research analysts anticipate that BlackSky Technology Inc. will post -2.28 earnings per share for the current fiscal year.

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.