Barclays PLC Reduces Position in BlackSky Technology Inc. (NYSE:BKSY)

Barclays PLC reduced its position in BlackSky Technology Inc. (NYSE:BKSY) by 54.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,806 shares of the company’s stock after selling 21,247 shares during the quarter. Barclays PLC owned 0.10% of BlackSky Technology worth $84,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in BKSY. Thompson Siegel & Walmsley LLC purchased a new stake in shares of BlackSky Technology during the third quarter valued at $3,674,000. Perkins Capital Management Inc. bought a new stake in BlackSky Technology during the 3rd quarter valued at about $1,114,000. Finally, Squarepoint Ops LLC purchased a new stake in BlackSky Technology in the 2nd quarter valued at about $295,000. Institutional investors own 27.15% of the company’s stock.

BlackSky Technology Trading Down 9.0 %

BKSY opened at $10.11 on Friday. The company has a current ratio of 5.68, a quick ratio of 5.68 and a debt-to-equity ratio of 0.89. The firm has a market cap of $311.18 million, a price-to-earnings ratio of -4.47 and a beta of 1.16. BlackSky Technology Inc. has a 12 month low of $3.86 and a 12 month high of $14.16. The stock has a fifty day moving average price of $10.06 and a 200-day moving average price of $8.40.

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 analysts’ expectations of $26.93 million. BlackSky Technology had a negative net margin of 38.83% and a negative return on equity of 49.91%. During the same period in the previous year, the company posted ($0.96) earnings per share. As a group, equities research analysts anticipate that BlackSky Technology Inc. will post -2.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Oppenheimer assumed coverage on shares of BlackSky Technology in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $10.00 price target for the company. Lake Street Capital lifted their target price on BlackSky Technology from $4.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, September 30th. HC Wainwright cut their price target on BlackSky Technology from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Finally, Craig Hallum raised shares of BlackSky Technology from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research note on Friday, October 4th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $17.60.

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.