BlackSky Technology Inc. $BKSY Shares Sold by Wasatch Advisors LP

Wasatch Advisors LP trimmed its holdings in shares of BlackSky Technology Inc. (NYSE:BKSY) by 29.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 285,883 shares of the company’s stock after selling 121,818 shares during the period. Wasatch Advisors LP’s holdings in BlackSky Technology were worth $7,193,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Bank of New York Mellon Corp increased its holdings in shares of BlackSky Technology by 392.8% in the 4th quarter. Bank of New York Mellon Corp now owns 2,072,543 shares of the company’s stock valued at $38,860,000 after acquiring an additional 1,652,014 shares during the last quarter. Vanguard Group Inc. lifted its stake in BlackSky Technology by 7.8% during the third quarter. Vanguard Group Inc. now owns 1,697,683 shares of the company’s stock worth $34,208,000 after purchasing an additional 123,171 shares during the last quarter. State Street Corp boosted its holdings in BlackSky Technology by 63.3% in the fourth quarter. State Street Corp now owns 996,019 shares of the company’s stock valued at $18,675,000 after purchasing an additional 386,207 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in BlackSky Technology in the fourth quarter valued at approximately $16,395,000. Finally, Geode Capital Management LLC increased its stake in BlackSky Technology by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 718,490 shares of the company’s stock valued at $13,474,000 after purchasing an additional 22,695 shares during the last quarter. 27.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BKSY shares. Weiss Ratings reissued a “sell (d-)” rating on shares of BlackSky Technology in a report on Monday, April 20th. Wall Street Zen cut shares of BlackSky Technology from a “hold” rating to a “strong sell” rating in a report on Saturday, May 16th. Finally, Jefferies Financial Group upgraded shares of BlackSky Technology to a “hold” rating in a report on Wednesday, June 10th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, BlackSky Technology has a consensus rating of “Hold” and a consensus price target of $36.50.

BlackSky Technology Stock Up 1.9%

BKSY opened at $24.82 on Friday. BlackSky Technology Inc. has a one year low of $12.41 and a one year high of $52.88. The company has a debt-to-equity ratio of 2.39, a quick ratio of 3.34 and a current ratio of 3.46. The stock has a market capitalization of $920.92 million, a P/E ratio of -9.73 and a beta of 2.52. The business’s 50-day simple moving average is $37.30 and its 200-day simple moving average is $28.60.

BlackSky Technology (NYSE:BKSY) last announced its earnings results on Thursday, May 7th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.45). The firm had revenue of $20.77 million during the quarter, compared to analyst estimates of $27.60 million. BlackSky Technology had a negative net margin of 89.07% and a negative return on equity of 74.25%. Analysts anticipate that BlackSky Technology Inc. will post -1.32 EPS for the current 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.