Concurrent Investment Advisors LLC Takes Position in BlackSky Technology Inc. $BKSY

Key Points

• Concurrent Investment Advisors LLC has acquired a new position in BlackSky Technology, purchasing 18,032 shares valued at approximately $371,000, representing about 0.06% of the company's ownership.
• Institutional investors have shown significant interest, with firms like IFP Advisors Inc and GAMMA Investing LLC increasing their holdings by thousands of percentage points in the second and first quarter, respectively.
• Despite **mixed guidance from analysts**, BlackSky Technology has a consensus rating of "Moderate Buy" with an average price target of **$29.00**; however, some analysts have issued "sell" ratings amid concerns over the stock's performance.

Concurrent Investment Advisors LLC bought a new position in BlackSky Technology Inc. (NYSE:BKSY - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 18,032 shares of the company's stock, valued at approximately $371,000. Concurrent Investment Advisors LLC owned approximately 0.06% of BlackSky Technology as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. IFP Advisors Inc increased its holdings in BlackSky Technology by 35,575.0% in the 2nd quarter. IFP Advisors Inc now owns 1,427 shares of the company's stock valued at $32,000 after acquiring an additional 1,423 shares during the last quarter. GAMMA Investing LLC grew its position in shares of BlackSky Technology by 14,829.2% during the first quarter. GAMMA Investing LLC now owns 7,166 shares of the company's stock valued at $55,000 after purchasing an additional 7,118 shares in the last quarter. New York State Common Retirement Fund grew its position in shares of BlackSky Technology by 217.0% during the first quarter. New York State Common Retirement Fund now owns 8,765 shares of the company's stock valued at $68,000 after purchasing an additional 6,000 shares in the last quarter. Brown Advisory Inc. bought a new stake in shares of BlackSky Technology in the first quarter worth about $98,000. Finally, AQR Capital Management LLC purchased a new stake in shares of BlackSky Technology in the first quarter worth about $103,000. 27.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BKSY shares. Weiss Ratings restated a "sell (d-)" rating on shares of BlackSky Technology in a report on Wednesday, October 8th. Canaccord Genuity Group lowered their target price on BlackSky Technology from $28.00 to $27.00 and set a "buy" rating for the company in a research report on Tuesday, July 22nd. HC Wainwright boosted their price target on shares of BlackSky Technology from $28.00 to $42.00 and gave the stock a "buy" rating in a research report on Friday, October 10th. Lake Street Capital upped their price target on shares of BlackSky Technology from $18.00 to $28.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, Wall Street Zen cut shares of BlackSky Technology from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 9th. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, BlackSky Technology has a consensus rating of "Moderate Buy" and an average target price of $29.00.

BlackSky Technology Stock Performance

NYSE:BKSY opened at $24.37 on Friday. The firm has a market capitalization of $864.23 million, a PE ratio of -7.25 and a beta of 2.22. The stock's fifty day moving average is $20.60 and its 200 day moving average is $16.26. BlackSky Technology Inc. has a fifty-two week low of $5.96 and a fifty-two week high of $33.20. The company has a debt-to-equity ratio of 1.35, a quick ratio of 3.71 and a current ratio of 3.71.

BlackSky Technology (NYSE:BKSY - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.03). BlackSky Technology had a negative return on equity of 52.27% and a negative net margin of 82.04%.The firm had revenue of $22.20 million for the quarter, compared to analysts' expectations of $22.17 million. BlackSky Technology has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that BlackSky Technology Inc. will post -2.28 earnings per share for the current year.

Insider Activity at BlackSky Technology

In related news, CEO Brian E. O'toole sold 33,292 shares of the stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $17.45, for a total value of $580,945.40. Following the sale, the chief executive officer directly owned 750,164 shares of the company's stock, valued at $13,090,361.80. This represents a 4.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Christiana L. Lin sold 24,036 shares of the business's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $17.45, for a total value of $419,428.20. Following the transaction, the chief accounting officer owned 402,652 shares of the company's stock, valued at $7,026,277.40. This trade represents a 5.63% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,694 shares of company stock worth $1,565,160. Insiders own 3.80% of the company's stock.

BlackSky Technology Profile

BlackSky Technology Inc provides geospatial intelligence, imagery and related data analytic products and services, and mission systems that include the development, integration, and operation of satellite and ground systems for government and commercial customers in North America, the Middle East, the Asia Pacific, and internationally.

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