BlackSky Technology (NYSE:BKSY) Trading Down 6.1% – Should You Sell?

Shares of BlackSky Technology Inc. (NYSE:BKSY) dropped 6.1% during trading on Friday . The company traded as low as $21.52 and last traded at $21.3650. Approximately 150,669 shares were traded during trading, a decline of 91% from the average daily volume of 1,659,793 shares. The stock had previously closed at $22.76.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on BKSY shares. Clear Str upgraded BlackSky Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of BlackSky Technology in a research note on Friday, July 17th. Wall Street Zen upgraded BlackSky Technology from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. Finally, Jefferies Financial Group raised BlackSky Technology to a “hold” rating in a research note on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, BlackSky Technology currently has an average rating of “Moderate Buy” and an average target price of $39.33.

BlackSky Technology Stock Down 6.9%

The company has a quick ratio of 5.72, a current ratio of 5.83 and a debt-to-equity ratio of 0.94. The business has a 50-day simple moving average of $24.34 and a two-hundred day simple moving average of $29.75. The company has a market cap of $867.36 million, a price-to-earnings ratio of -11.61 and a beta of 2.61.

BlackSky Technology (NYSE:BKSY) last announced 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). The business had revenue of $33.32 million during the quarter, compared to analyst estimates of $30.72 million. BlackSky Technology had a negative return on equity of 51.24% and a negative net margin of 61.24%. As a group, equities analysts forecast that BlackSky Technology Inc. will post -1.09 earnings per share for the current fiscal year.

Insider Activity at BlackSky Technology

In other BlackSky Technology news, CEO Brian E. O’toole sold 56,280 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $20.95, for a total transaction of $1,179,066.00. Following the transaction, the chief executive officer owned 1,063,396 shares in the company, valued at approximately $22,278,146.20. This represents a 5.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Henry Dubois sold 15,225 shares of the company’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $20.95, for a total value of $318,963.75. Following the completion of the sale, the chief financial officer owned 482,931 shares of the company’s stock, valued at approximately $10,117,404.45. The trade was a 3.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 108,557 shares of company stock valued at $2,303,189 over the last 90 days. 5.20% of the stock is owned by insiders.

Hedge Funds Weigh In On BlackSky Technology

A number of hedge funds have recently modified their holdings of BKSY. Tema ETFs LLC lifted its position in 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 buying an additional 1,445,416 shares in the last quarter. Tidal Investments LLC bought a new position in BlackSky Technology in the second quarter valued at about $39,289,000. AWM Investment Company Inc. bought a new stake in shares of BlackSky Technology in the second quarter worth $33,504,000. Daiwa Securities Group Inc. acquired a new stake in BlackSky Technology in the fourth quarter worth $16,395,000. Finally, Bank of America Corp DE boosted its holdings in 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 last quarter. 27.15% of the stock is currently owned by institutional investors and hedge funds.

BlackSky Technology Company Profile

BlackSky Technology Inc is a space-based intelligence and geospatial analytics company that provides timely Earth-observation data and analysis to government and commercial customers. The company operates a satellite constellation designed to collect high-resolution imagery and support persistent monitoring of locations and activities around the world.

BlackSky’s offerings include satellite imagery, automated change detection, geospatial intelligence, and artificial intelligence-powered analytics.