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

State Street Corp cut its holdings in shares of BlackSky Technology Inc. (NYSE:BKSY - Free Report) by 86.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 286,787 shares of the company's stock after selling 1,867,419 shares during the quarter. State Street Corp owned approximately 1.54% of BlackSky Technology worth $1,359,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Squarepoint Ops LLC acquired a new stake in BlackSky Technology in the second quarter valued at $295,000. Perkins Capital Management Inc. bought a new stake in shares of BlackSky Technology in the 3rd quarter worth about $1,114,000. Finally, Thompson Siegel & Walmsley LLC acquired a new stake in shares of BlackSky Technology in the 3rd quarter valued at about $3,674,000. 27.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at BlackSky Technology

In other 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 completion of the transaction, the chief accounting officer now directly owns 354,143 shares in the company, valued at $3,771,622.95. This trade represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brian E. O'toole sold 7,020 shares of the business's stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $10.65, for a total value of $74,763.00. Following the sale, 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.

BlackSky Technology Stock Performance

NYSE:BKSY traded up $1.18 during midday trading on Friday, reaching $11.87. 1,209,705 shares of the company traded hands, compared to its average volume of 986,852. The firm has a market capitalization of $365.35 million, a price-to-earnings ratio of -5.25 and a beta of 1.15. The company has a fifty day moving average price of $9.82 and a 200 day moving average price of $8.33. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.68 and a quick ratio of 5.68. BlackSky Technology Inc. has a twelve month low of $3.86 and a twelve month high of $14.16.

BlackSky Technology (NYSE:BKSY - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.66) earnings per share (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 analyst estimates 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 last year, the firm posted ($0.96) EPS. On average, analysts expect that BlackSky Technology Inc. will post -2.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BKSY. Oppenheimer started coverage on BlackSky Technology in a report on Wednesday, October 2nd. They issued an "outperform" rating and a $10.00 price objective for the company. Lake Street Capital boosted their price target on BlackSky Technology from $4.00 to $32.00 and gave the company a "buy" rating in a report on Monday, September 30th. Craig Hallum upgraded BlackSky Technology from a "hold" rating to a "buy" rating and set a $10.00 price objective on the stock in a research note on Friday, October 4th. Finally, HC Wainwright lowered their target price on shares of BlackSky Technology from $15.00 to $12.00 and set a "buy" rating for the company in a research note on Wednesday, October 16th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, BlackSky Technology presently has a consensus rating of "Buy" and an average target price of $17.60.

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.