BlackSky Technology (NYSE:BKSY) CEO Sells $436,600.00 in Stock

BlackSky Technology Inc. (NYSE:BKSY) CEO Brian O’toole sold 20,000 shares of the firm’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $21.83, for a total value of $436,600.00. Following the completion of the sale, the chief executive officer directly owned 1,119,676 shares of the company’s stock, valued at $24,442,527.08. This trade represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

BlackSky Technology Trading Down 3.9%

Shares of NYSE BKSY traded down $0.84 during trading on Thursday, hitting $20.77. 641,188 shares of the company were exchanged, compared to its average volume of 1,688,361. BlackSky Technology Inc. has a 12-month low of $12.41 and a 12-month high of $52.88. The company has a debt-to-equity ratio of 0.94, a quick ratio of 5.72 and a current ratio of 5.83. The company has a fifty day moving average price of $24.98 and a 200-day moving average price of $29.68. The firm has a market capitalization of $849.99 million, a PE ratio of -11.41 and a beta of 2.61.

BlackSky Technology (NYSE:BKSY) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.16). BlackSky Technology had a negative net margin of 61.24% and a negative return on equity of 51.24%. The firm had revenue of $33.32 million during the quarter, compared to analysts’ expectations of $30.72 million. As a group, equities research analysts expect that BlackSky Technology Inc. will post -1.09 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BKSY. Sei Investments Co. boosted its position in shares of BlackSky Technology by 125.5% during the first quarter. Sei Investments Co. now owns 65,650 shares of the company’s stock worth $1,652,000 after buying an additional 36,541 shares during the period. Tema ETFs LLC raised its holdings in shares of BlackSky Technology by 110,505.8% in the 2nd quarter. Tema ETFs LLC now owns 1,446,724 shares of the company’s stock valued at $40,393,000 after buying an additional 1,445,416 shares during the period. Jasper Ridge Partners L.P. purchased a new stake in shares of BlackSky Technology in the 2nd quarter valued at $2,087,000. Kingsview Wealth Management LLC acquired a new position in BlackSky Technology during the 4th quarter worth about $735,000. Finally, Bank of America Corp DE lifted its stake in BlackSky Technology by 156.1% during the 1st quarter. Bank of America Corp DE now owns 412,891 shares of the company’s stock worth $10,388,000 after acquiring an additional 251,638 shares in the last quarter. Institutional investors and hedge funds own 27.15% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.