Insider Selling: BlackSky Technology (NYSE:BKSY) CAO Sells 24,036 Shares of Stock

Key Points

• Christiana Lin, the Chief Accounting Officer of BlackSky Technology, sold 24,036 shares on September 10th for approximately $419,428, reducing her ownership in the company by 5.63%.
• BlackSky Technology's stock price recently increased to $19.71, with a market capitalization of $699.08 million and a PE ratio of -5.87.
• Research firms have set varying price targets for BlackSky Technology, with some analysts boosting their targets as high as $28.00, while others have downgraded the stock's rating.

BlackSky Technology Inc. (NYSE:BKSY - Get Free Report) CAO Christiana Lin sold 24,036 shares of the company's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $17.45, for a total value of $419,428.20. Following the completion of the sale, the chief accounting officer owned 402,652 shares in the company, valued at $7,026,277.40. This represents a 5.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

BlackSky Technology Price Performance

Shares of NYSE:BKSY traded up $0.42 on Monday, hitting $19.71. The company had a trading volume of 1,899,306 shares, compared to its average volume of 1,611,169. The company has a current ratio of 3.71, a quick ratio of 3.71 and a debt-to-equity ratio of 1.35. BlackSky Technology Inc. has a 52-week low of $3.86 and a 52-week high of $28.85. The business has a 50 day moving average of $19.23 and a 200 day moving average of $13.80. The company has a market cap of $699.08 million, a PE ratio of -5.87 and a beta of 2.16.

BlackSky Technology (NYSE:BKSY - Get Free Report) last released its 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 business had revenue of $22.20 million for the quarter, compared to analysts' expectations of $22.17 million. BlackSky Technology has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that BlackSky Technology Inc. will post -2.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on BKSY. HC Wainwright raised their price objective on BlackSky Technology from $20.00 to $28.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Lake Street Capital increased their target price on BlackSky Technology from $18.00 to $28.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Canaccord Genuity Group lowered their target price on BlackSky Technology from $28.00 to $27.00 and set a "buy" rating for the company in a research note on Tuesday, July 22nd. Finally, Wall Street Zen lowered BlackSky Technology from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 9th. Six equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $23.50.

Institutional Investors Weigh In On BlackSky Technology

Hedge funds have recently bought and sold shares of the business. Two Sigma Investments LP acquired a new position in shares of BlackSky Technology in the 4th quarter worth approximately $1,219,000. Oppenheimer & Co. Inc. lifted its holdings in shares of BlackSky Technology by 215.3% in the 1st quarter. Oppenheimer & Co. Inc. now owns 80,638 shares of the company's stock worth $623,000 after purchasing an additional 55,067 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of BlackSky Technology by 89.1% in the 4th quarter. Northern Trust Corp now owns 202,153 shares of the company's stock worth $2,181,000 after purchasing an additional 95,228 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of BlackSky Technology by 20.5% in the 4th quarter. Nuveen Asset Management LLC now owns 72,890 shares of the company's stock worth $786,000 after purchasing an additional 12,378 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of BlackSky Technology by 93.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,159 shares of the company's stock worth $153,000 after purchasing an additional 6,835 shares during the last quarter. Institutional investors and hedge funds own 27.15% of the company's stock.

About BlackSky Technology

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.

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