Tidal Investments LLC Makes New Investment in BlackSky Technology Inc. $BKSY

Key Points

• Tidal Investments acquired 1.41 million BlackSky shares worth approximately $39.3 million, giving it a 3.44% stake. Institutional investors and hedge funds collectively own 27.15% of the company.
• BlackSky reported a quarterly loss of $0.54 per share, missing the $0.38 consensus estimate, although revenue of $33.32 million exceeded expectations. Analysts project a full-year loss of $1.09 per share.
• BKSY shares opened at $21.55 after declining 2.4%; analyst sentiment remains mixed but averages a “Moderate Buy” rating, with a consensus price target of $39.33.

Tidal Investments LLC bought a new stake in shares of BlackSky Technology Inc. (NYSE:BKSY - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,407,186 shares of the company's stock, valued at approximately $39,289,000. Tidal Investments LLC owned approximately 3.44% of BlackSky Technology at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Arax Advisory Partners grew its position in BlackSky Technology by 15.2% during the fourth quarter. Arax Advisory Partners now owns 5,985 shares of the company's stock valued at $112,000 after buying an additional 791 shares during the period. IFP Advisors Inc raised its position 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 acquiring an additional 826 shares during the period. Legal & General Group Plc boosted its stake in shares of BlackSky Technology by 40.5% during the 2nd quarter. Legal & General Group Plc now owns 3,118 shares of the company's stock worth $64,000 after acquiring an additional 899 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of BlackSky Technology by 7.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,174 shares of the company's stock valued at $117,000 after purchasing an additional 1,015 shares in the last quarter. Finally, Quarry LP acquired a new position in BlackSky Technology in the 4th quarter worth about $26,000. 27.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at BlackSky Technology

In related news, CFO Henry Dubois sold 4,000 shares of the company's stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $23.78, for a total value of $95,120.00. Following the transaction, the chief financial officer directly owned 498,156 shares in the company, valued at approximately $11,846,149.68. This represents a 0.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 5.20% of the company's stock.

BlackSky Technology Trading Down 2.4%

Shares of BKSY opened at $21.55 on Thursday. The company has a current ratio of 5.83, a quick ratio of 5.72 and a debt-to-equity ratio of 0.94. BlackSky Technology Inc. has a 12-month low of $12.41 and a 12-month high of $52.88. The firm has a 50-day moving average price of $24.98 and a 200 day moving average price of $29.68. The firm has a market capitalization of $881.79 million, a P/E ratio of -11.84 and a beta of 2.61.

BlackSky Technology (NYSE:BKSY - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.54) EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $33.32 million for the quarter, compared to analysts' expectations of $30.72 million. Sell-side analysts forecast that BlackSky Technology Inc. will post -1.09 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on BKSY shares. Jefferies Financial Group upgraded shares of BlackSky Technology to a "hold" rating in a research report on Wednesday, June 10th. 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. Clear Str upgraded BlackSky Technology from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of BlackSky Technology in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $39.33.

BlackSky Technology Company 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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