Sax Wealth Advisors LLC Purchases 67,157 Shares of BlackSky Technology Inc. $BKSY

Key Points

• Sax Wealth Advisors purchased 67,157 BlackSky Technology shares worth approximately $1.43 million, acquiring a 0.16% stake. Institutional investors collectively own 27.15% of the company.
• Analyst sentiment is mixed but leans positive, with BlackSky receiving a consensus “Moderate Buy” rating and an average price target of $39.33.
• BlackSky reported a quarterly loss of $0.54 per share, missing estimates, despite revenue of $33.32 million exceeding expectations. CEO and CFO stock sales were made to cover tax obligations tied to vested equity awards.

Sax Wealth Advisors LLC purchased a new stake in shares of BlackSky Technology Inc. (NYSE:BKSY - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 67,157 shares of the company's stock, valued at approximately $1,431,000. Sax Wealth Advisors LLC owned 0.16% of BlackSky Technology as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Fifth Third Bancorp bought a new stake in BlackSky Technology during the 1st quarter worth about $48,000. Integrated Wealth Concepts LLC acquired a new position in BlackSky Technology during the 2nd quarter valued at about $216,000. The Manufacturers Life Insurance Company bought a new position in shares of BlackSky Technology in the 1st quarter valued at about $217,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of BlackSky Technology by 332.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 12,116 shares of the company's stock valued at $227,000 after purchasing an additional 9,313 shares during the last quarter. Finally, Arizona State Retirement System bought a new position in shares of BlackSky Technology in the 2nd quarter valued at about $236,000. Institutional investors own 27.15% of the company's stock.

Wall Street Analysts Forecast Growth

BKSY has been the subject of a number of recent research reports. Wall Street Zen raised shares of BlackSky Technology from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 15th. Weiss Ratings restated a "sell (d-)" rating on shares of BlackSky Technology in a report on Friday, July 17th. Finally, Clear Str raised shares of BlackSky Technology from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 10th. One 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 company. Based on data from MarketBeat, BlackSky Technology currently has an average rating of "Moderate Buy" and a consensus price target of $39.33.

Insider Activity

In other news, CEO Brian O'Toole sold 56,280 shares of BlackSky Technology stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $20.95, for a total transaction of $1,179,066.00. Following the transaction, the chief executive officer owned 1,063,396 shares in the company, valued at $22,278,146.20. The trade was a 5.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Henry Dubois sold 15,225 shares of the business's stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $20.95, for a total value of $318,963.75. Following the completion of the transaction, the chief financial officer owned 482,931 shares of the company's stock, valued at $10,117,404.45. This represents a 3.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 138,557 shares of company stock worth $2,991,269 in the last 90 days. Corporate insiders own 5.20% of the company's stock.

BlackSky Technology Stock Performance

Shares of NYSE:BKSY opened at $17.64 on Thursday. BlackSky Technology Inc. has a 52 week low of $12.41 and a 52 week high of $52.88. The company has a quick ratio of 5.72, a current ratio of 5.83 and a debt-to-equity ratio of 0.94. The company has a 50 day moving average price of $23.73 and a two-hundred day moving average price of $29.31.

BlackSky Technology (NYSE:BKSY - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.54) earnings per share 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 business had revenue of $33.32 million for the quarter, compared to the consensus estimate of $30.72 million. As a group, analysts forecast that BlackSky Technology Inc. will post -1.09 EPS for the current year.

About BlackSky Technology

BlackSky Technology Inc provides geospatial intelligence and satellite-imagery services to government and commercial customers. The company operates a constellation of Earth-observation satellites designed to collect high-resolution imagery and other data, supporting monitoring of locations and activities around the world.

BlackSky combines satellite data with artificial intelligence, machine learning and other analytics through its Spectra platform. Its services are intended to deliver timely insights for applications including defense and intelligence, disaster response, infrastructure monitoring, maritime awareness, supply-chain management and other forms of global activity monitoring.

The company was established in 2013 and originated within Spaceflight Industries before becoming a publicly traded company through a business combination completed in 2021.

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