Jasper Ridge Partners L.P. Takes $2.09 Million Position in BlackSky Technology Inc. $BKSY

Key Points

• Jasper Ridge Partners initiated a BlackSky Technology position worth approximately $2.09 million, acquiring 74,739 shares, while other institutional investors also significantly increased their holdings. Institutions and hedge funds collectively own 27.15% of the company.
• Analyst sentiment is mixed but leans positive: BlackSky has a consensus “Moderate Buy” rating and a $39.33 price target, despite ratings ranging from Strong Buy to Sell.
• BlackSky shares opened at $23.72 after falling 4.2%; the company recently missed quarterly EPS expectations, reporting a $0.54 loss per share versus the projected $0.38 loss, though revenue exceeded estimates.

Jasper Ridge Partners L.P. bought a new position in shares of BlackSky Technology Inc. (NYSE:BKSY - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 74,739 shares of the company's stock, valued at approximately $2,087,000. Jasper Ridge Partners L.P. owned approximately 0.18% of BlackSky Technology at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. AWM Investment Company Inc. bought a new position in BlackSky Technology in the 2nd quarter valued at about $33,504,000. Tema ETFs LLC boosted its stake in BlackSky Technology by 110,505.8% during the 2nd quarter. Tema ETFs LLC now owns 1,446,724 shares of the company's stock valued at $40,393,000 after purchasing an additional 1,445,416 shares during the last quarter. FNY Investment Advisers LLC increased its holdings in BlackSky Technology by 323.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 21,891 shares of the company's stock worth $611,000 after purchasing an additional 16,716 shares in the last quarter. Bank of America Corp DE increased its holdings in BlackSky Technology by 156.1% during the 1st quarter. Bank of America Corp DE now owns 412,891 shares of the company's stock worth $10,388,000 after purchasing an additional 251,638 shares in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in BlackSky Technology during the 1st quarter worth approximately $217,000. Institutional investors and hedge funds own 27.15% of the company's stock.

Wall Street Analyst Weigh In

BKSY has been the topic of a number of recent research reports. Wall Street Zen upgraded BlackSky Technology from a "strong sell" rating to a "sell" rating in a report on Saturday, August 15th. Clear Str raised BlackSky Technology from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 10th. Weiss Ratings reissued a "sell (d-)" rating on shares of BlackSky Technology in a research report on Friday, July 17th. Finally, Jefferies Financial Group upgraded BlackSky Technology to a "hold" rating in a research note on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, BlackSky Technology presently has a consensus rating of "Moderate Buy" and a consensus price target of $39.33.

BlackSky Technology Trading Down 4.2%

NYSE:BKSY opened at $23.72 on Friday. BlackSky Technology Inc. has a 52 week low of $12.41 and a 52 week high of $52.88. The firm has a 50-day moving average price of $25.84 and a two-hundred day moving average price of $29.65. The company has a debt-to-equity ratio of 0.94, a quick ratio of 5.72 and a current ratio of 5.83. The firm has a market cap of $970.62 million, a price-to-earnings ratio of -13.03 and a beta of 2.61.

BlackSky Technology (NYSE:BKSY - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.54) earnings per share for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.16). The business had revenue of $33.32 million during the quarter, compared to analysts' expectations of $30.72 million. BlackSky Technology had a negative return on equity of 51.24% and a negative net margin of 61.24%. On average, equities analysts expect that BlackSky Technology Inc. will post -1.27 earnings per share 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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