Bank of New York Mellon Corp Decreases Stock Position in BlackSky Technology Inc. $BKSY

Bank of New York Mellon Corp lowered its stake in shares of BlackSky Technology Inc. (NYSE:BKSY) by 7.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,918,084 shares of the company’s stock after selling 154,459 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.05% of BlackSky Technology worth $48,259,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC acquired a new stake in shares of BlackSky Technology during the 1st quarter worth about $103,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of BlackSky Technology by 7.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,174 shares of the company’s stock worth $117,000 after acquiring an additional 1,015 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of BlackSky Technology by 343.7% during the first quarter. Goldman Sachs Group Inc. now owns 557,729 shares of the company’s stock worth $4,311,000 after acquiring an additional 432,023 shares in the last quarter. Legal & General Group Plc raised its position 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 purchasing an additional 899 shares during the period. Finally, Rhumbline Advisers increased its holdings in shares of BlackSky Technology by 11.1% during the 2nd quarter. Rhumbline Advisers now owns 39,229 shares of the company’s stock worth $807,000 after purchasing an additional 3,934 shares during the period. 27.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BKSY has been the subject of a number of research reports. Weiss Ratings restated a “sell (d-)” rating on shares of BlackSky Technology in a research note on Friday, July 17th. Wall Street Zen downgraded shares of BlackSky Technology from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 16th. Finally, Jefferies Financial Group raised shares of BlackSky Technology to a “hold” rating in a research note on Wednesday, June 10th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, BlackSky Technology presently has a consensus rating of “Hold” and an average price target of $39.33.

BlackSky Technology Stock Down 5.2%

Shares of BKSY opened at $21.60 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 current ratio of 3.46 and a quick ratio of 3.34. The firm has a 50 day simple moving average of $32.34 and a two-hundred day simple moving average of $29.42. The company has a market cap of $801.50 million, a P/E ratio of -8.47 and a beta of 2.59.

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