BlackSky Technology (NYSE:BKSY) Stock Breaks Above 50-Day Moving Average – Time to Sell?

Shares of BlackSky Technology Inc. (NYSE:BKSY) passed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $20.39 and traded as high as $21.43. BlackSky Technology shares last traded at $21.2380, with a volume of 1,445,234 shares.

Analyst Upgrades and Downgrades

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

BlackSky Technology Trading Up 11.1%

The company has a debt-to-equity ratio of 0.94, a current ratio of 5.83 and a quick ratio of 5.72. The stock’s 50-day moving average is $20.39 and its two-hundred day moving average is $26.97. The company has a market cap of $869.06 million, a P/E ratio of -16.59 and a beta of 2.84.

BlackSky Technology (NYSE:BKSY) last issued its quarterly earnings data on Thursday, November 5th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of ($0.23) by $0.33. The company had revenue of $42.84 million during the quarter, compared to analyst estimates of $39.64 million. BlackSky Technology had a negative return on equity of 35.72% and a negative net margin of 24.86%. As a group, equities research analysts predict that BlackSky Technology Inc. will post -1.09 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Brian E. O’toole sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $16.86, for a total transaction of $337,200.00. Following the completion of the sale, the chief executive officer directly owned 1,023,396 shares in the company, valued at approximately $17,254,456.56. The trade was a 1.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Christiana L. Lin sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $16.86, for a total transaction of $101,160.00. Following the sale, the chief accounting officer owned 415,680 shares of the company’s stock, valued at $7,008,364.80. This trade represents a 1.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 168,557 shares of company stock valued at $3,497,029 in the last quarter. 5.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Asset One Wealth Management LLC bought a new stake in BlackSky Technology during the third quarter valued at about $624,000. Oppenheimer & Co. Inc. raised its stake in shares of BlackSky Technology by 66.0% in the third quarter. Oppenheimer & Co. Inc. now owns 297,939 shares of the company’s stock worth $6,349,000 after buying an additional 118,421 shares during the period. Sterling Capital Management LLC raised its stake in shares of BlackSky Technology by 935.6% in the third quarter. Sterling Capital Management LLC now owns 1,222 shares of the company’s stock worth $26,000 after buying an additional 1,104 shares during the period. Vontobel Holding Ltd. lifted its position in shares of BlackSky Technology by 20.0% during the 3rd quarter. Vontobel Holding Ltd. now owns 11,939 shares of the company’s stock valued at $254,000 after buying an additional 1,992 shares in the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in shares of BlackSky Technology during the 3rd quarter valued at about $41,000. Hedge funds and other institutional investors own 27.15% of the company’s stock.

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.