Insider Selling: BlackSky Technology (NYSE:BKSY) CAO Sells $101,160.00 in Stock

BlackSky Technology Inc. (NYSE:BKSY) CAO Christiana Lin sold 6,000 shares of BlackSky Technology stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $16.86, for a total value of $101,160.00. Following the sale, the chief accounting officer owned 415,680 shares in the company, valued at $7,008,364.80. This represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

BlackSky Technology Stock Down 4.1%

Shares of BKSY traded down $0.72 during trading on Thursday, reaching $16.63. The company’s stock had a trading volume of 700,758 shares, compared to its average volume of 1,581,175. The company has a fifty day moving average of $22.52 and a two-hundred day moving average of $29.02. BlackSky Technology Inc. has a twelve month low of $12.41 and a twelve month high of $52.88. The company has a market cap of $680.50 million, a price-to-earnings ratio of -9.14 and a beta of 2.70. 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 (NYSE:BKSY) last released 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). BlackSky Technology had a negative net margin of 61.24% and a negative return on equity of 51.24%. The business had revenue of $33.32 million for the quarter, compared to analysts’ expectations of $30.72 million. On average, sell-side analysts predict that BlackSky Technology Inc. will post -1.09 EPS for the current fiscal year.

Analysts Set New Price Targets

BKSY has been the topic of several recent analyst reports. Clear Str raised shares of BlackSky Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Wall Street Zen raised shares of BlackSky Technology from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BlackSky Technology in a research report on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, BlackSky Technology currently has an average rating of “Moderate Buy” and an average price target of $39.33.

Hedge Funds Weigh In On BlackSky Technology

Several large investors have recently added to or reduced their stakes in BKSY. Tema ETFs LLC boosted its holdings in BlackSky Technology by 110,505.8% in the second 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. Tidal Investments LLC bought a new stake in BlackSky Technology during the second quarter valued at $39,289,000. AWM Investment Company Inc. bought a new stake in BlackSky Technology during the second quarter valued at $33,504,000. Bank of America Corp DE raised its holdings in shares of BlackSky Technology by 156.1% during the first quarter. Bank of America Corp DE now owns 412,891 shares of the company’s stock worth $10,388,000 after purchasing an additional 251,638 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC raised its holdings in shares of BlackSky Technology by 88.2% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 170,618 shares of the company’s stock worth $4,293,000 after purchasing an additional 79,970 shares during the period. 27.15% of the stock is currently owned by institutional investors.

BlackSky Technology Company Profile

BlackSky Technology Inc is a space-based intelligence and geospatial analytics company that provides high-frequency monitoring of activity and changes on Earth. The company combines satellite imagery, artificial intelligence and machine learning, and other data sources to help customers identify and analyze events and locations of interest.

BlackSky operates a constellation of Earth-observation satellites and delivers imagery, alerts, and analytical products through its Spectra platform.