1,407,186 Shares in BlackSky Technology Inc. $BKSY Purchased by Tidal Investments LLC

Tidal Investments LLC bought a new stake in BlackSky Technology Inc. (NYSE:BKSY) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,407,186 shares of the company’s stock, valued at approximately $39,289,000.

Several other hedge funds also recently bought and sold shares of the stock. Sei Investments Co. raised its stake in shares of BlackSky Technology by 125.5% in the 1st quarter. Sei Investments Co. now owns 65,650 shares of the company’s stock valued at $1,652,000 after acquiring an additional 36,541 shares during the period. Tema ETFs LLC boosted its position in shares of BlackSky Technology by 110,505.8% during the 2nd quarter. Tema ETFs LLC now owns 1,446,724 shares of the company’s stock worth $40,393,000 after purchasing an additional 1,445,416 shares during the period. Jasper Ridge Partners L.P. purchased a new position in shares of BlackSky Technology during the 2nd quarter worth approximately $2,087,000. Kingsview Wealth Management LLC acquired a new stake in BlackSky Technology in the 4th quarter valued at approximately $735,000. Finally, Bank of America Corp DE raised its position in BlackSky Technology by 156.1% in the first quarter. Bank of America Corp DE now owns 412,891 shares of the company’s stock valued at $10,388,000 after purchasing an additional 251,638 shares during the period. Hedge funds and other institutional investors own 27.15% of the company’s stock.

Insiders Place Their Bets

In other BlackSky Technology news, CFO Henry Dubois sold 4,000 shares of the company’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $23.78, for a total transaction of $95,120.00. Following the sale, the chief financial officer owned 498,156 shares in the company, valued at $11,846,149.68. This represents a 0.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Jefferies Financial Group upgraded BlackSky Technology to a “hold” rating in a research note on Wednesday, June 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BlackSky Technology in a research note on Friday, July 17th. Clear Str upgraded BlackSky Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Finally, Wall Street Zen raised BlackSky Technology from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. One investment 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $39.33.

BlackSky Technology Stock Performance

Shares of BKSY stock opened at $21.55 on Thursday. The firm has a 50 day moving average of $24.98 and a two-hundred day moving average of $29.68. The stock has a market capitalization of $881.79 million, a PE ratio of -11.84 and a beta of 2.61. 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 52 week low of $12.41 and a 52 week high of $52.88.

BlackSky Technology (NYSE:BKSY) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.16). The company 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%. On average, research analysts predict that BlackSky Technology Inc. will post -1.09 EPS for the current fiscal year.

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.