AWM Investment Company Inc. Invests $33.50 Million in BlackSky Technology Inc. $BKSY

Key Points

• AWM Investment Company acquired 1.2 million BlackSky Technology shares worth approximately $33.5 million, representing 2.93% of the company and 2.9% of AWM’s portfolio.
• BlackSky reported a quarterly loss of $0.54 per share, missing estimates by $0.16, despite revenue of $33.32 million exceeding expectations. Analysts project a full-year loss of $1.27 per share.
• BKSY shares opened at $25.20 after declining 1.5%; analysts maintain a “Moderate Buy” consensus with an average price target of $39.33, while institutional investors collectively own 27.15% of the stock.

AWM Investment Company Inc. purchased a new stake in shares of BlackSky Technology Inc. (NYSE:BKSY - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,200,000 shares of the company's stock, valued at approximately $33,504,000. BlackSky Technology accounts for approximately 2.9% of AWM Investment Company Inc.'s investment portfolio, making the stock its 11th largest position. AWM Investment Company Inc. owned 2.93% of BlackSky Technology as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Bank of New York Mellon Corp increased its stake in shares of BlackSky Technology by 392.8% in the fourth quarter. Bank of New York Mellon Corp now owns 2,072,543 shares of the company's stock worth $38,860,000 after purchasing an additional 1,652,014 shares in the last quarter. Vanguard Group Inc. boosted its holdings in BlackSky Technology by 7.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,697,683 shares of the company's stock worth $34,208,000 after buying an additional 123,171 shares during the period. Tema ETFs LLC increased its stake in BlackSky Technology by 110,505.8% in 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. State Street Corp increased its stake in BlackSky Technology by 63.3% in the 4th quarter. State Street Corp now owns 996,019 shares of the company's stock worth $18,675,000 after buying an additional 386,207 shares in the last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in BlackSky Technology during the fourth quarter valued at about $16,395,000. Hedge funds and other institutional investors own 27.15% of the company's stock.

BlackSky Technology Trading Down 1.5%

BKSY stock opened at $25.20 on Wednesday. BlackSky Technology Inc. has a 12 month low of $12.41 and a 12 month high of $52.88. The firm's 50-day moving average is $26.13 and its 200 day moving average is $29.65. The company has a market capitalization of $1.03 billion, a PE ratio of -13.85 and a beta of 2.61. The company has a debt-to-equity ratio of 0.94, a current ratio of 5.83 and a quick ratio of 5.72.

BlackSky Technology (NYSE:BKSY - Get Free Report) last posted its quarterly earnings results 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). The firm had revenue of $33.32 million for the quarter, compared to the consensus estimate of $30.72 million. BlackSky Technology had a negative return on equity of 51.24% and a negative net margin of 61.24%. On average, research analysts anticipate that BlackSky Technology Inc. will post -1.27 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Wall Street Zen raised BlackSky Technology from a "strong sell" rating to a "sell" rating in a report on Saturday, August 15th. Jefferies Financial Group raised shares of BlackSky Technology to a "hold" rating in a report on Wednesday, June 10th. Weiss Ratings restated a "sell (d-)" rating on shares of BlackSky Technology in a research report on Friday, July 17th. Finally, Clear Str upgraded shares of BlackSky Technology from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. One 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $39.33.

BlackSky Technology Company Profile

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.

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