Dimensional Fund Advisors LP Sells 183,779 Shares of BlackSky Technology Inc. $BKSY

Key Points

• Dimensional Fund Advisors cut its BlackSky Technology stake by 85.4% in the first quarter, selling 183,779 shares and retaining 31,369 shares worth approximately $789,000. Institutional investors collectively own 27.15% of the company.
• Analyst sentiment is mixed but leans positive: BlackSky has an average “Moderate Buy” rating and a consensus price target of $39.33, despite ratings ranging from “Strong Buy” to “Sell.”
• BlackSky reported a quarterly loss of $0.54 per share, missing estimates by $0.16, while revenue of $33.32 million exceeded expectations. The company continues to operate at a loss, with a negative net margin of 61.24%.

Dimensional Fund Advisors LP lessened its position in shares of BlackSky Technology Inc. (NYSE:BKSY - Free Report) by 85.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,369 shares of the company's stock after selling 183,779 shares during the period. Dimensional Fund Advisors LP owned 0.08% of BlackSky Technology worth $789,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP bought a new stake in BlackSky Technology in the 4th quarter valued at about $26,000. Strive Financial Group LLC purchased a new stake in BlackSky Technology during the fourth quarter valued at about $26,000. Global Retirement Partners LLC bought a new position in BlackSky Technology during the fourth quarter worth about $28,000. Wexford Capital LP bought a new position in BlackSky Technology during the third quarter worth about $30,000. Finally, IFP Advisors Inc increased its stake in shares of BlackSky Technology by 57.9% in the third quarter. IFP Advisors Inc now owns 2,253 shares of the company's stock worth $45,000 after purchasing an additional 826 shares in the last quarter. Institutional investors own 27.15% of the company's stock.

Analysts Set New Price Targets

BKSY has been the topic of several research reports. Wall Street Zen raised shares of BlackSky Technology from a "strong sell" rating to a "sell" rating in a research report on Saturday. Jefferies Financial Group raised shares of BlackSky Technology to a "hold" rating in a report on Wednesday, June 10th. Clear Str upgraded shares of BlackSky Technology from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 10th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of BlackSky Technology in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, BlackSky Technology presently has an average rating of "Moderate Buy" and a consensus target price of $39.33.

BlackSky Technology Stock Performance

Shares of NYSE BKSY opened at $31.00 on Friday. The stock's 50-day moving average is $26.79 and its 200 day moving average is $29.44. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of -17.03 and a beta of 2.61. BlackSky Technology Inc. has a 1-year low of $12.41 and a 1-year high of $52.88. The company has a current ratio of 5.83, a quick ratio of 3.34 and a debt-to-equity ratio of 0.94.

BlackSky Technology (NYSE:BKSY - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.16). BlackSky Technology had a negative return on equity of 51.24% and a negative net margin of 61.24%.The company had revenue of $33.32 million during the quarter, compared to analysts' expectations of $30.72 million. On average, sell-side analysts anticipate that BlackSky Technology Inc. will post -1.27 EPS for the current fiscal year.

About BlackSky Technology

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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