Sei Investments Co. Acquires 36,541 Shares of BlackSky Technology Inc. $BKSY

Key Points

• Sei Investments increased its BlackSky Technology stake by 125.5% in the first quarter, purchasing 36,541 additional shares and ending with 65,650 shares valued at approximately $1.65 million. Institutional investors and hedge funds collectively own 27.15% of BKSY.
• BlackSky reported quarterly revenue of $33.32 million, above estimates of $30.72 million, but its loss of $0.54 per share was wider than the expected $0.38 loss. Analysts project a full-year loss of $1.32 per share.
• BKSY shares opened at $28.76, while analyst sentiment remained mixed, resulting in a consensus “Hold” rating and an average price target of $39.33.

Sei Investments Co. boosted its stake in shares of BlackSky Technology Inc. (NYSE:BKSY - Free Report) by 125.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,650 shares of the company's stock after purchasing an additional 36,541 shares during the quarter. Sei Investments Co. owned about 0.18% of BlackSky Technology worth $1,652,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BKSY. Cetera Investment Advisers boosted its position in shares of BlackSky Technology by 27.0% in the first quarter. Cetera Investment Advisers now owns 15,252 shares of the company's stock valued at $384,000 after acquiring an additional 3,244 shares during the period. SteelPeak Wealth LLC acquired a new stake in BlackSky Technology in the 1st quarter worth about $272,000. Fifth Third Bancorp acquired a new stake in BlackSky Technology in the 1st quarter worth about $48,000. Griffin Asset Management Inc. boosted its holdings in BlackSky Technology by 5.8% in the 1st quarter. Griffin Asset Management Inc. now owns 57,375 shares of the company's stock valued at $1,444,000 after purchasing an additional 3,125 shares during the period. Finally, Leonteq Securities AG grew its position in shares of BlackSky Technology by 260.0% during the 1st quarter. Leonteq Securities AG now owns 22,027 shares of the company's stock worth $554,000 after purchasing an additional 15,908 shares in the last quarter. 27.15% of the stock is currently owned by institutional investors and hedge funds.

BlackSky Technology Stock Down 1.4%

Shares of BlackSky Technology stock opened at $28.76 on Tuesday. The stock's 50-day moving average is $27.43 and its 200 day moving average is $29.33. BlackSky Technology Inc. has a one year low of $12.41 and a one year high of $52.88. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of -15.80 and a beta of 2.61. The company has a debt-to-equity ratio of 2.39, a current ratio of 3.46 and a quick ratio of 3.34.

BlackSky Technology (NYSE:BKSY - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.16). BlackSky Technology had a negative net margin of 61.24% and a negative return on equity of 68.90%. The company had revenue of $33.32 million for the quarter, compared to analyst estimates of $30.72 million. Equities research analysts anticipate that BlackSky Technology Inc. will post -1.32 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on BKSY shares. Wall Street Zen downgraded BlackSky Technology from a "hold" rating to a "strong sell" rating in a research note on Saturday, May 16th. Jefferies Financial Group upgraded shares of BlackSky Technology to a "hold" rating in a research report on Wednesday, June 10th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of BlackSky Technology in a report on Friday, July 17th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $39.33.

BlackSky Technology Profile

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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