BlackSky Technology Inc. (NYSE:BKSY) Stake Lessened by State Street Corp

State Street Corp cut its stake in BlackSky Technology Inc. (NYSE:BKSY) by 86.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 286,787 shares of the company’s stock after selling 1,867,419 shares during the period. State Street Corp owned 1.54% of BlackSky Technology worth $1,359,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Squarepoint Ops LLC acquired a new stake in shares of BlackSky Technology in the 2nd quarter valued at about $295,000. Perkins Capital Management Inc. bought a new stake in BlackSky Technology in the third quarter valued at about $1,114,000. Finally, Thompson Siegel & Walmsley LLC acquired a new stake in BlackSky Technology during the third quarter valued at approximately $3,674,000. 27.15% of the stock is currently owned by institutional investors.

BlackSky Technology Price Performance

Shares of BKSY opened at $10.69 on Friday. BlackSky Technology Inc. has a 12 month low of $3.86 and a 12 month high of $14.16. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.68 and a quick ratio of 5.68. The stock has a fifty day moving average price of $9.71 and a 200 day moving average price of $8.30. The company has a market cap of $329.03 million, a P/E ratio of -4.73 and a beta of 1.15.

BlackSky Technology (NYSE:BKSY) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.66) EPS for the quarter, missing the consensus estimate of ($0.61) by ($0.05). The firm had revenue of $22.55 million for the quarter, compared to the consensus estimate of $26.93 million. BlackSky Technology had a negative return on equity of 49.91% and a negative net margin of 38.83%. During the same quarter in the prior year, the company posted ($0.96) EPS. On average, research analysts forecast that BlackSky Technology Inc. will post -2.28 earnings per share for the current year.

Analyst Ratings Changes

BKSY has been the subject of several research reports. HC Wainwright decreased their target price on BlackSky Technology from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Craig Hallum upgraded shares of BlackSky Technology from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research note on Friday, October 4th. Oppenheimer started coverage on shares of BlackSky Technology in a report on Wednesday, October 2nd. They set an “outperform” rating and a $10.00 target price on the stock. Finally, Lake Street Capital lifted their price target on shares of BlackSky Technology from $4.00 to $32.00 and gave the company a “buy” rating in a report on Monday, September 30th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $17.60.

Insider Buying and Selling at BlackSky Technology

In related news, CAO Christiana L. Lin sold 5,550 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $10.65, for a total value of $59,107.50. Following the completion of the sale, the chief accounting officer now owns 354,143 shares of the company’s stock, valued at $3,771,622.95. This represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Brian E. O’toole sold 7,020 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $10.65, for a total transaction of $74,763.00. Following the transaction, the chief executive officer now directly owns 691,909 shares in the company, valued at approximately $7,368,830.85. The trade was a 1.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,086 shares of company stock worth $245,866. 4.50% of the stock is owned by company insiders.

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.