BlackSky Technology (NYSE:BKSY) Earns Outperform Rating from Analysts at Oppenheimer

Research analysts at Oppenheimer began coverage on shares of BlackSky Technology (NYSE:BKSY) in a research report issued to clients and investors on Wednesday, Briefing.com reports. The brokerage set an “outperform” rating and a $10.00 price target on the stock. Oppenheimer’s price objective points to a potential upside of 121.73% from the company’s previous close.

Separately, Lake Street Capital upped their target price on shares of BlackSky Technology from $4.00 to $32.00 and gave the stock a “buy” rating in a report on Monday.

BlackSky Technology Stock Performance

Shares of BKSY stock opened at $4.51 on Wednesday. The stock has a market capitalization of $83.93 million, a P/E ratio of -11.87 and a beta of 1.00. The company has a current ratio of 4.19, a quick ratio of 4.19 and a debt-to-equity ratio of 1.41. The firm’s 50 day moving average is $7.63 and its 200 day moving average is $8.74. BlackSky Technology has a 12 month low of $3.86 and a 12 month high of $14.16.

BlackSky Technology (NYSE:BKSY) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.48) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.24. The company had revenue of $24.94 million for the quarter, compared to analysts’ expectations of $25.14 million. BlackSky Technology had a negative net margin of 26.78% and a negative return on equity of 56.91%. During the same period in the prior year, the company posted ($1.92) EPS. On average, sell-side analysts anticipate that BlackSky Technology will post -2.52 earnings per share for the current year.

Insider Transactions at BlackSky Technology

In other news, CFO Henry Edward Dubois sold 23,590 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $7.19, for a total value of $169,612.10. Following the transaction, the chief financial officer now owns 231,645 shares of the company’s stock, valued at approximately $1,665,527.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Christiana L. Lin sold 13,031 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $7.19, for a total transaction of $93,692.89. Following the transaction, the chief accounting officer now owns 190,775 shares of the company’s stock, valued at approximately $1,371,672.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Henry Edward Dubois sold 23,590 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $7.19, for a total transaction of $169,612.10. Following the transaction, the chief financial officer now directly owns 231,645 shares in the company, valued at approximately $1,665,527.55. The disclosure for this sale can be found here. Insiders have sold 62,362 shares of company stock valued at $446,535 in the last quarter. Insiders own 3.16% of the company’s stock.

Hedge Funds Weigh In On BlackSky Technology

Several institutional investors and hedge funds have recently made changes to their positions in BKSY. Vanguard Group Inc. grew its holdings in shares of BlackSky Technology by 17.8% during the 1st quarter. Vanguard Group Inc. now owns 5,291,909 shares of the company’s stock valued at $7,197,000 after purchasing an additional 800,287 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in BlackSky Technology during the 2nd quarter valued at $295,000. GSA Capital Partners LLP boosted its position in BlackSky Technology by 123.8% during the 1st quarter. GSA Capital Partners LLP now owns 315,900 shares of the company’s stock valued at $430,000 after buying an additional 174,773 shares during the period. LA Financiere DE L Echiquier boosted 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 during the period. Finally, Virtu Financial LLC boosted its position in BlackSky Technology by 134.5% during the 1st quarter. Virtu Financial LLC now owns 145,514 shares of the company’s stock valued at $198,000 after buying an additional 83,462 shares during the period. Institutional investors own 27.15% of the company’s stock.

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.