Cubist Systematic Strategies LLC Takes Position in BlackSky Technology Inc. $BKSY

Key Points

• Cubist Systematic Strategies LLC has invested approximately $1.73 million in BlackSky Technology Inc., acquiring 223,554 shares, making up 0.71% of the company's total shares owned.
• The share price of BlackSky Technology opened at $16.20 and the company has a market capitalization of $574.54 million with a significant debt-to-equity ratio of 1.35.
• While analysts generally have a consensus "Buy" rating for BlackSky Technology, prices target changes have varied, with Canaccord Genuity lowering its target from $28.00 to $27.00.

Cubist Systematic Strategies LLC purchased a new stake in shares of BlackSky Technology Inc. (NYSE:BKSY - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The fund purchased 223,554 shares of the company's stock, valued at approximately $1,728,000. Cubist Systematic Strategies LLC owned approximately 0.71% of BlackSky Technology at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in BKSY. Dimensional Fund Advisors LP purchased a new position in shares of BlackSky Technology during the 4th quarter valued at $378,000. Northern Trust Corp lifted its holdings in shares of BlackSky Technology by 89.1% during the 4th quarter. Northern Trust Corp now owns 202,153 shares of the company's stock worth $2,181,000 after acquiring an additional 95,228 shares during the last quarter. BNP Paribas Financial Markets grew its position in BlackSky Technology by 22.7% in the fourth quarter. BNP Paribas Financial Markets now owns 3,691 shares of the company's stock worth $40,000 after acquiring an additional 683 shares in the last quarter. Bank of America Corp DE increased its stake in BlackSky Technology by 194.0% in the fourth quarter. Bank of America Corp DE now owns 23,163 shares of the company's stock valued at $250,000 after acquiring an additional 15,285 shares during the last quarter. Finally, Balyasny Asset Management L.P. bought a new position in BlackSky Technology in the fourth quarter valued at $180,000. 27.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BKSY shares. Canaccord Genuity Group dropped their price target on BlackSky Technology from $28.00 to $27.00 and set a "buy" rating for the company in a research note on Tuesday, July 22nd. Benchmark lifted their price target on BlackSky Technology from $17.00 to $18.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. HC Wainwright lifted their price target on BlackSky Technology from $20.00 to $28.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Wall Street Zen lowered BlackSky Technology from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 9th. Finally, Lake Street Capital lifted their price target on BlackSky Technology from $18.00 to $28.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Six analysts have rated the stock with a Buy rating, According to MarketBeat, BlackSky Technology presently has a consensus rating of "Buy" and a consensus target price of $23.50.

BlackSky Technology Trading Down 4.4%

Shares of NYSE:BKSY traded down $0.72 on Wednesday, reaching $15.60. 1,586,614 shares of the company traded hands, compared to its average volume of 1,598,111. The business's 50-day simple moving average is $19.44 and its 200 day simple moving average is $13.75. BlackSky Technology Inc. has a 52 week low of $3.86 and a 52 week high of $28.85. The stock has a market capitalization of $553.36 million, a P/E ratio of -4.64 and a beta of 2.15. The company has a current ratio of 3.71, a quick ratio of 3.71 and a debt-to-equity ratio of 1.35.

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

BlackSky Technology Company 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.