Formula Growth Ltd. Has $3.52 Million Holdings in BlackSky Technology Inc. (NYSE:BKSY)

Formula Growth Ltd. decreased its holdings in shares of BlackSky Technology Inc. (NYSE:BKSY - Free Report) by 18.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 326,000 shares of the company's stock after selling 74,000 shares during the period. Formula Growth Ltd. owned approximately 1.06% of BlackSky Technology worth $3,518,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in BlackSky Technology during the fourth quarter worth approximately $111,000. LexAurum Advisors LLC acquired a new stake in shares of BlackSky Technology during the 4th quarter valued at $108,000. Griffin Asset Management Inc. bought a new stake in shares of BlackSky Technology during the 4th quarter worth $196,000. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of BlackSky Technology in the 4th quarter worth $1,297,000. Finally, Rhumbline Advisers raised its position in shares of BlackSky Technology by 98.5% during the fourth quarter. Rhumbline Advisers now owns 31,446 shares of the company's stock worth $339,000 after purchasing an additional 15,607 shares during the period. Institutional investors and hedge funds own 27.15% of the company's stock.

Analyst Ratings Changes

BKSY has been the subject of a number of recent analyst reports. HC Wainwright reiterated a "buy" rating and issued a $20.00 price target on shares of BlackSky Technology in a research report on Friday, March 7th. Canaccord Genuity Group started coverage on shares of BlackSky Technology in a report on Thursday, April 10th. They issued a "buy" rating and a $12.00 target price for the company. Oppenheimer boosted their price target on shares of BlackSky Technology from $10.00 to $30.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Finally, Benchmark reaffirmed a "buy" rating and issued a $17.00 price objective on shares of BlackSky Technology in a research note on Friday, March 7th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $20.17.

BlackSky Technology Stock Up 12.4 %

Shares of BKSY stock traded up $0.90 during trading on Thursday, hitting $8.10. 505,615 shares of the company were exchanged, compared to its average volume of 1,450,805. The business's 50-day simple moving average is $10.06 and its 200 day simple moving average is $10.29. BlackSky Technology Inc. has a twelve month low of $3.86 and a twelve month high of $21.92. The firm has a market capitalization of $256.13 million, a price-to-earnings ratio of -3.58 and a beta of 1.61. The company has a debt-to-equity ratio of 0.89, a quick ratio of 5.68 and a current ratio of 5.68.

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.