BlackSky Technology (NYSE:BKSY) Stock Rating Upgraded by Wall Street Zen

BlackSky Technology (NYSE:BKSY) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday, Wall Street Zen reports.

A number of other equities research analysts also recently weighed in on BKSY. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BlackSky Technology in a research note on Thursday, October 15th. Clear Str raised BlackSky Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $39.33.

BlackSky Technology Trading Down 0.4%

BlackSky Technology stock opened at $21.24 on Friday. The company’s fifty day simple moving average is $20.39 and its 200-day simple moving average is $26.97. The company has a quick ratio of 5.72, a current ratio of 5.83 and a debt-to-equity ratio of 0.94. BlackSky Technology has a 12 month low of $12.41 and a 12 month high of $52.88. The stock has a market cap of $879.25 million, a P/E ratio of -16.59 and a beta of 2.84.

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

Insider Transactions at BlackSky Technology

In related news, CEO Brian E. O’toole sold 56,280 shares of BlackSky Technology stock in a transaction on Friday, September 11th. The shares were sold at an average price of $20.95, for a total value of $1,179,066.00. Following the completion of the sale, the chief executive officer owned 1,063,396 shares of the company’s stock, valued at approximately $22,278,146.20. The trade was a 5.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Christiana L. Lin sold 13,052 shares of the company’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $20.95, for a total transaction of $273,439.40. Following the completion of the sale, the chief accounting officer owned 427,680 shares of the company’s stock, valued at $8,959,896. This represents a 2.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 168,557 shares of company stock worth $3,497,029 in the last 90 days. 5.20% of the stock is owned by insiders.

Hedge Funds Weigh In On BlackSky Technology

Hedge funds have recently bought and sold shares of the business. Sterling Capital Management LLC boosted its stake in shares of BlackSky Technology by 935.6% during the 3rd quarter. Sterling Capital Management LLC now owns 1,222 shares of the company’s stock worth $26,000 after acquiring an additional 1,104 shares in the last quarter. Fifth Third Bancorp acquired a new position in shares of BlackSky Technology during the 1st quarter valued at about $48,000. State of Alaska Department of Revenue bought a new position in shares of BlackSky Technology in the 3rd quarter valued at approximately $41,000. Vontobel Holding Ltd. raised its stake in shares of BlackSky Technology by 20.0% in the 3rd quarter. Vontobel Holding Ltd. now owns 11,939 shares of the company’s stock valued at $254,000 after acquiring an additional 1,992 shares in the last quarter. Finally, Cetera Investment Advisers raised its stake in shares of BlackSky Technology by 27.0% in the 1st quarter. Cetera Investment Advisers now owns 15,252 shares of the company’s stock valued at $384,000 after acquiring an additional 3,244 shares in the last quarter. 27.15% of the stock is 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 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.