BlackSky Technology (NYSE:BKSY) Sees Unusually-High Trading Volume – Still a Buy?

BlackSky Technology Inc. (NYSE:BKSY) saw an uptick in trading volume on Tuesday . 237,240 shares changed hands during mid-day trading, an increase of 34% from the previous session’s volume of 177,310 shares.The stock last traded at $5.40 and had previously closed at $5.58.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BKSY. Lake Street Capital upped their price target on BlackSky Technology from $4.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Oppenheimer assumed coverage on shares of BlackSky Technology in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $10.00 target price for the company. Finally, Craig Hallum upgraded shares of BlackSky Technology from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research note on Friday. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $19.20.

BlackSky Technology Stock Performance

The company has a 50 day simple moving average of $7.33 and a 200-day simple moving average of $8.59. The company has a debt-to-equity ratio of 1.41, a current ratio of 4.19 and a quick ratio of 4.19. The stock has a market cap of $857.49 million, a P/E ratio of -14.68 and a beta of 0.97.

BlackSky Technology (NYSE:BKSY) last released its earnings results on Thursday, August 8th. The company reported ($0.48) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.24. The company had revenue of $24.94 million during the quarter, compared to the consensus estimate of $25.14 million. BlackSky Technology had a negative return on equity of 56.91% and a negative net margin of 26.78%. During the same quarter in the previous year, the company posted ($1.92) EPS. On average, equities analysts expect that BlackSky Technology Inc. will post -2.52 earnings per share for the current fiscal year.

Insider Activity at BlackSky Technology

In related news, CEO Brian E. O’toole sold 24,352 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $7.19, for a total transaction of $175,090.88. Following the transaction, the chief executive officer now owns 479,785 shares in the company, valued at $3,449,654.15. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other BlackSky Technology news, CAO Christiana L. Lin sold 13,031 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $7.19, for a total value of $93,692.89. Following the completion of the transaction, the chief accounting officer now directly owns 190,775 shares in the company, valued at approximately $1,371,672.25. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian E. O’toole sold 24,352 shares of BlackSky Technology stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $7.19, for a total transaction of $175,090.88. Following the sale, the chief executive officer now directly owns 479,785 shares in the company, valued at $3,449,654.15. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,362 shares of company stock worth $446,535 in the last ninety days. 3.16% of the stock is owned by company insiders.

Hedge Funds Weigh In On BlackSky Technology

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in BlackSky Technology by 17.8% in the first quarter. Vanguard Group Inc. now owns 5,291,909 shares of the company’s stock worth $7,197,000 after purchasing an additional 800,287 shares in the last quarter. Virtu Financial LLC increased its stake in shares of BlackSky Technology by 134.5% during the first quarter. Virtu Financial LLC now owns 145,514 shares of the company’s stock valued at $198,000 after purchasing an additional 83,462 shares in the last quarter. GSA Capital Partners LLP boosted its position in shares of BlackSky Technology by 123.8% in the 1st quarter. GSA Capital Partners LLP now owns 315,900 shares of the company’s stock worth $430,000 after purchasing an additional 174,773 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of BlackSky Technology in the 2nd quarter worth approximately $295,000. Finally, LA Financiere DE L Echiquier increased its position in BlackSky Technology by 13.6% during the 2nd quarter. LA Financiere DE L Echiquier now owns 933,000 shares of the company’s stock valued at $998,000 after buying an additional 112,000 shares in the last quarter. 27.15% of the stock is owned by institutional investors.

BlackSky Technology Company Profile

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.