BlackSky Technology (NYSE:BKSY) Sees Large Volume Increase – Time to Buy?

Shares of BlackSky Technology Inc. (NYSE:BKSY) saw unusually-high trading volume on Monday . Approximately 388,979 shares changed hands during mid-day trading, an increase of 97% from the previous session’s volume of 197,364 shares.The stock last traded at $6.26 and had previously closed at $6.26.

Analyst Upgrades and Downgrades

BKSY has been the topic of several research reports. Lake Street Capital boosted their price target on shares of BlackSky Technology from $4.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Craig Hallum raised 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 report on Friday, October 4th. Finally, Oppenheimer initiated coverage on shares of BlackSky Technology in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $10.00 price target on the stock. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $19.20.

BlackSky Technology Price Performance

The stock’s fifty day moving average is $7.14 and its two-hundred day moving average is $8.46. 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 has a market cap of $919.16 million, a P/E ratio of -16.37 and a beta of 0.97.

BlackSky Technology (NYSE:BKSY) last posted 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 business had revenue of $24.94 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the firm posted ($1.92) EPS. As a group, research analysts anticipate that BlackSky Technology Inc. will post -2.52 earnings per share for the current year.

Insiders Place Their Bets

In other BlackSky Technology news, CFO Henry Edward Dubois sold 23,590 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 231,645 shares of the company’s stock, valued at $1,665,527.55. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Henry Edward Dubois sold 23,590 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 $169,612.10. Following the completion of the sale, the chief financial officer now owns 231,645 shares of the company’s stock, valued at approximately $1,665,527.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $93,692.89. Following the completion of the sale, the chief accounting officer now directly owns 190,775 shares of the company’s stock, valued at $1,371,672.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,362 shares of company stock valued at $446,535 in the last quarter. Corporate insiders own 3.16% of the company’s stock.

Institutional Investors Weigh In On BlackSky Technology

A number of institutional investors have recently made changes to their positions in BKSY. Vanguard Group Inc. boosted its stake in shares of BlackSky Technology by 17.8% in 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 in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of BlackSky Technology in 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. Hedge funds and other institutional investors own 27.15% of the company’s stock.

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.