Invesco Ltd. Decreases Stake in BlackSky Technology Inc. $BKSY

Key Points

• Invesco Ltd. significantly reduced its stake in BlackSky Technology by 39.3%, selling 140,961 shares during the first quarter, leaving them with approximately 0.69% ownership valued at $1.68 million.
• Several large investors, including BNP Paribas and GAMMA Investing LLC, have increased their holdings in BlackSky Technology by substantial margins, indicating growing institutional interest in the company.
• Wall Street analysts have mixed views on BlackSky Technology, with target price estimates ranging from $17.00 to $28.00, but a consensus rating of "Buy" suggests potential for future growth.

Invesco Ltd. trimmed its position in shares of BlackSky Technology Inc. (NYSE:BKSY - Free Report) by 39.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 217,474 shares of the company's stock after selling 140,961 shares during the period. Invesco Ltd. owned about 0.69% of BlackSky Technology worth $1,681,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in BKSY. Charles Schwab Investment Management Inc. increased its stake in BlackSky Technology by 6.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 201,832 shares of the company's stock valued at $1,560,000 after purchasing an additional 12,675 shares during the last quarter. XTX Topco Ltd increased its stake in BlackSky Technology by 58.3% in the first quarter. XTX Topco Ltd now owns 21,977 shares of the company's stock valued at $170,000 after purchasing an additional 8,094 shares during the last quarter. 1492 Capital Management LLC purchased a new position in BlackSky Technology in the first quarter valued at approximately $725,000. New York State Common Retirement Fund increased its stake in BlackSky Technology by 217.0% in 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 during the last quarter. Finally, LBP AM SA increased its stake in BlackSky Technology by 22.3% in the first quarter. LBP AM SA now owns 37,881 shares of the company's stock valued at $293,000 after purchasing an additional 6,907 shares during the last quarter. 27.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

BlackSky Technology Stock Performance

Shares of NYSE BKSY traded down $0.28 during mid-day trading on Thursday, hitting $16.15. 829,336 shares of the company were exchanged, compared to its average volume of 1,596,655. The company has a quick ratio of 3.71, a current ratio of 3.71 and a debt-to-equity ratio of 1.35. The stock has a 50 day simple moving average of $19.76 and a 200-day simple moving average of $13.83. BlackSky Technology Inc. has a 1-year low of $3.86 and a 1-year high of $28.85. The firm has a market cap of $572.81 million, a price-to-earnings ratio of -4.80 and a beta of 2.15.

BlackSky Technology (NYSE:BKSY - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.52) earnings per share 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 company had revenue of $22.20 million for the quarter, compared to analyst estimates of $22.17 million. BlackSky Technology has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast 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.