Griffin Asset Management Inc. Makes New Investment in BlackSky Technology Inc. (NYSE:BKSY)

Griffin Asset Management Inc. purchased a new stake in BlackSky Technology Inc. (NYSE:BKSY) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 18,125 shares of the company’s stock, valued at approximately $196,000. Griffin Asset Management Inc. owned 0.06% of BlackSky Technology at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. LexAurum Advisors LLC bought a new position in BlackSky Technology in the 4th quarter worth about $108,000. SG Americas Securities LLC purchased a new position in shares of BlackSky Technology during the fourth quarter worth about $111,000. Perkins Capital Management Inc. bought a new position in shares of BlackSky Technology in the third quarter worth approximately $1,114,000. Squarepoint Ops LLC purchased a new stake in BlackSky Technology in the second quarter valued at approximately $295,000. Finally, Thompson Siegel & Walmsley LLC bought a new stake in BlackSky Technology during the third quarter valued at approximately $3,674,000. 27.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Henry Edward Dubois sold 7,938 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $10.65, for a total transaction of $84,539.70. Following the completion of the transaction, the chief financial officer now directly owns 420,779 shares of the company’s stock, valued at approximately $4,481,296.35. This represents a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian E. O’toole sold 7,020 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $10.65, for a total value of $74,763.00. Following the completion of the sale, the chief executive officer now directly owns 691,909 shares in the company, valued at $7,368,830.85. The trade was a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,086 shares of company stock valued at $245,866. 4.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

BKSY has been the topic of a number of research analyst reports. Oppenheimer assumed coverage on shares of BlackSky Technology in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $10.00 price target on the stock. Craig Hallum raised BlackSky Technology from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research note on Friday, October 4th. Finally, HC Wainwright cut their price objective on BlackSky Technology from $15.00 to $12.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $17.60.

BlackSky Technology Stock Performance

Shares of NYSE:BKSY opened at $13.89 on Wednesday. The company has a current ratio of 5.68, a quick ratio of 5.68 and a debt-to-equity ratio of 0.89. The company’s fifty day moving average is $11.11 and its 200 day moving average is $8.72. BlackSky Technology Inc. has a 52 week low of $3.86 and a 52 week high of $17.39.

BlackSky Technology (NYSE:BKSY) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.66) EPS for the quarter, missing the consensus estimate of ($0.61) by ($0.05). The company had revenue of $22.55 million during 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 quarter in the prior year, the firm posted ($0.96) EPS. As a group, equities research analysts predict that BlackSky Technology Inc. will post -2.28 EPS for the current fiscal year.

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.