Geode Capital Management LLC Decreases Stock Holdings in BlackSky Technology Inc. (NYSE:BKSY)

Geode Capital Management LLC lessened its holdings in BlackSky Technology Inc. (NYSE:BKSY) by 87.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 284,017 shares of the company’s stock after selling 1,906,907 shares during the quarter. Geode Capital Management LLC owned approximately 1.53% of BlackSky Technology worth $1,346,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Thompson Siegel & Walmsley LLC purchased a new position in shares of BlackSky Technology in the 3rd quarter valued at about $3,674,000. Perkins Capital Management Inc. acquired a new position in BlackSky Technology in the third quarter valued at approximately $1,114,000. Finally, Squarepoint Ops LLC acquired a new position in BlackSky Technology in the second quarter valued at approximately $295,000. 27.15% of the stock is currently owned by institutional investors and hedge funds.

BlackSky Technology Stock Down 9.0 %

Shares of NYSE:BKSY opened at $10.11 on Friday. 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 market cap of $311.18 million, a P/E ratio of -4.47 and a beta of 1.16. BlackSky Technology Inc. has a 1-year low of $3.86 and a 1-year high of $14.16. The firm 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) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.05). The company had revenue of $22.55 million for the quarter, compared to analysts’ expectations 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 period in the prior year, the business earned ($0.96) EPS. Sell-side analysts predict that BlackSky Technology Inc. will post -2.28 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at BlackSky Technology

In other BlackSky Technology news, CFO Henry Edward Dubois sold 7,938 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $10.65, for a total transaction of $84,539.70. Following the sale, the chief financial officer now directly owns 420,779 shares in the company, valued at approximately $4,481,296.35. The trade was a 1.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Christiana L. Lin sold 5,550 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $10.65, for a total transaction of $59,107.50. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,086 shares of company stock valued at $245,866. 4.50% of the stock is owned by company insiders.

BlackSky Technology 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.