BlackSky Technology Stock Scheduled to Reverse Split on Monday, September 9th (NYSE:BKSY)

BlackSky Technology Inc. (NYSE:BKSY) shares are going to reverse split on Monday, September 9th. The 1-8 reverse split was announced on Wednesday, September 4th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, September 6th.

BlackSky Technology Price Performance

NYSE:BKSY traded down $0.23 during trading hours on Thursday, hitting $0.88. The stock had a trading volume of 4,082,013 shares, compared to its average volume of 611,827. The firm has a market capitalization of $131.29 million, a price-to-earnings ratio of -2.32 and a beta of 1.00. BlackSky Technology has a one year low of $0.84 and a one year high of $1.77. The company has a 50 day simple moving average of $1.09 and a two-hundred day simple moving average of $1.19. The company has a debt-to-equity ratio of 1.41, a current ratio of 4.19 and a quick ratio of 4.19.

BlackSky Technology (NYSE:BKSY) last posted its earnings results on Thursday, August 8th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.03. BlackSky Technology had a negative return on equity of 56.91% and a negative net margin of 26.78%. The business had revenue of $24.94 million during the quarter, compared to analysts’ expectations of $25.14 million. During the same period in the previous year, the business earned ($0.24) earnings per share. Research analysts forecast that BlackSky Technology will post -0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $2.50 target price on shares of BlackSky Technology in a research note on Thursday, May 9th.

Institutional Trading of BlackSky Technology

Several hedge funds and other institutional investors have recently bought and sold shares of BKSY. Vanguard Group Inc. increased its holdings in shares of BlackSky Technology by 17.8% in the first quarter. Vanguard Group Inc. now owns 5,291,909 shares of the company’s stock worth $7,197,000 after buying an additional 800,287 shares during the period. LA Financiere DE L Echiquier increased its stake in BlackSky Technology by 13.6% in the 2nd quarter. LA Financiere DE L Echiquier now owns 933,000 shares of the company’s stock worth $998,000 after purchasing an additional 112,000 shares during the period. GSA Capital Partners LLP lifted its position in BlackSky Technology by 123.8% in the first quarter. GSA Capital Partners LLP now owns 315,900 shares of the company’s stock valued at $430,000 after purchasing an additional 174,773 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of BlackSky Technology during the second quarter valued at approximately $295,000. Finally, Virtu Financial LLC increased its stake in shares of BlackSky Technology by 134.5% in the first quarter. Virtu Financial LLC now owns 145,514 shares of the company’s stock worth $198,000 after buying an additional 83,462 shares during the period. Hedge funds and other institutional investors own 27.15% of the company’s stock.

About BlackSky Technology

BlackSky Technology Inc provides geospatial intelligence, imagery and related data analytic products and services, and mission systems that include the development, integration, and operation of satellite and ground systems for government and commercial customers in North America, the Middle East, the Asia Pacific, and internationally.