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

Great Lakes Advisors LLC reduced its stake in shares of BlackSky Technology Inc. (NYSE:BKSY) by 48.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 187,772 shares of the company’s stock after selling 179,804 shares during the quarter. Great Lakes Advisors LLC’s holdings in BlackSky Technology were worth $3,784,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IFP Advisors Inc raised its stake in shares of BlackSky Technology by 35,575.0% during the 2nd quarter. IFP Advisors Inc now owns 1,427 shares of the company’s stock worth $32,000 after buying an additional 1,423 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in BlackSky Technology by 6,937.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,689 shares of the company’s stock worth $35,000 after buying an additional 1,665 shares during the last quarter. GPS Wealth Strategies Group LLC acquired a new stake in BlackSky Technology during the second quarter worth about $57,000. Legal & General Group Plc grew its stake in shares of BlackSky Technology by 40.5% in the second quarter. Legal & General Group Plc now owns 3,118 shares of the company’s stock valued at $64,000 after buying an additional 899 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in shares of BlackSky Technology by 42.3% in the third quarter. Farther Finance Advisors LLC now owns 5,850 shares of the company’s stock worth $118,000 after acquiring an additional 1,740 shares in the last quarter. Hedge funds and other institutional investors own 27.15% of the company’s stock.

BlackSky Technology Stock Performance

Shares of BKSY opened at $22.09 on Friday. The company has a market capitalization of $795.09 million, a PE ratio of -7.04 and a beta of 2.42. The company’s 50 day moving average price is $21.54 and its 200 day moving average price is $20.59. BlackSky Technology Inc. has a 52 week low of $6.15 and a 52 week high of $33.20. The company has a debt-to-equity ratio of 2.08, a quick ratio of 3.89 and a current ratio of 3.89.

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

Analysts Set New Price Targets

A number of brokerages have weighed in on BKSY. Weiss Ratings restated a “sell (d-)” rating on shares of BlackSky Technology in a report on Wednesday, January 21st. Jefferies Financial Group started coverage on shares of BlackSky Technology in a report on Monday, December 22nd. They issued a “buy” rating and a $23.00 target price on the stock. Finally, HC Wainwright upped their target price on BlackSky Technology from $28.00 to $42.00 and gave the company a “buy” rating in a report on Friday, October 10th. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $28.00.

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.