BlackSky Technology Inc. $BKSY Stock: Oppenheimer & Co. Inc. Raises Position

Key Points

• Oppenheimer & Co. increased its BlackSky Technology stake by 66% during the third quarter, bringing its holdings to 297,939 shares valued at approximately $6.35 million. Institutional investors collectively own 27.15% of the company.
• Analyst sentiment is mixed but leans positive: BlackSky has a consensus rating of “Moderate Buy” and an average price target of $39.33, despite ratings ranging from Strong Buy to Sell.
• BlackSky reported a quarterly loss of $0.54 per share, missing expectations, while revenue of $33.32 million exceeded forecasts. Shares opened at $19.06, well below their 52-week high of $52.88.

Oppenheimer & Co. Inc. boosted its position in shares of BlackSky Technology Inc. (NYSE:BKSY - Free Report) by 66.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 297,939 shares of the company's stock after acquiring an additional 118,421 shares during the period. Oppenheimer & Co. Inc. owned about 0.73% of BlackSky Technology worth $6,349,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sterling Capital Management LLC raised its holdings in shares of BlackSky Technology by 935.6% in the 3rd quarter. Sterling Capital Management LLC now owns 1,222 shares of the company's stock valued at $26,000 after purchasing an additional 1,104 shares in the last quarter. Fifth Third Bancorp purchased a new stake in shares of BlackSky Technology during the 1st quarter worth $48,000. State of Alaska Department of Revenue purchased a new stake in shares of BlackSky Technology during the 3rd quarter worth $41,000. Integrated Wealth Concepts LLC purchased a new stake in shares of BlackSky Technology during the 2nd quarter worth $216,000. Finally, Arizona State Retirement System acquired a new position in shares of BlackSky Technology during the second quarter worth $236,000. Institutional investors and hedge funds own 27.15% of the company's stock.

Analyst Ratings Changes

BKSY has been the topic of several recent analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of BlackSky Technology in a report on Thursday, October 15th. Clear Str raised BlackSky Technology from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. Finally, Wall Street Zen raised BlackSky Technology from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $39.33.

BlackSky Technology Stock Performance

Shares of BlackSky Technology stock opened at $19.06 on Thursday. 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 Inc. has a 52 week low of $12.41 and a 52 week high of $52.88. The firm's 50 day moving average is $21.47 and its two-hundred day moving average is $27.27. The firm has a market capitalization of $779.91 million, a P/E ratio of -10.47 and a beta of 2.70.

BlackSky Technology (NYSE:BKSY - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.16). The company had revenue of $33.32 million during the quarter, compared to analyst estimates of $30.72 million. BlackSky Technology had a negative net margin of 61.24% and a negative return on equity of 51.24%. Research analysts forecast that BlackSky Technology Inc. will post -1.09 EPS for the current fiscal year.

Insider Buying and Selling

In other BlackSky Technology news, CAO Christiana L. Lin sold 6,000 shares of the firm's stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $16.86, for a total transaction of $101,160.00. Following the transaction, the chief accounting officer owned 415,680 shares of the company's stock, valued at approximately $7,008,364.80. This trade represents a 1.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Henry Dubois sold 4,000 shares of BlackSky Technology stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $16.85, for a total value of $67,400.00. Following the sale, the chief financial officer owned 474,931 shares in the company, valued at $8,002,587.35. This trade represents a 0.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 168,557 shares of company stock worth $3,497,029 in the last ninety days. 5.20% of the stock is owned by corporate insiders.

BlackSky Technology 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.

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