Daiwa Securities Group Inc. Takes $16.40 Million Position in BlackSky Technology Inc. $BKSY

Daiwa Securities Group Inc. purchased a new stake in shares of BlackSky Technology Inc. (NYSE:BKSY) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 874,389 shares of the company’s stock, valued at approximately $16,395,000. Daiwa Securities Group Inc. owned approximately 2.43% of BlackSky Technology at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BKSY. Global Retirement Partners LLC bought a new position in shares of BlackSky Technology during the fourth quarter valued at $28,000. Wexford Capital LP bought a new position in shares of BlackSky Technology during the third quarter valued at $30,000. IFP Advisors Inc increased its holdings in shares of BlackSky Technology by 57.9% during the third quarter. IFP Advisors Inc now owns 2,253 shares of the company’s stock valued at $45,000 after acquiring an additional 826 shares in the last quarter. Jones Financial Companies Lllp bought a new position in shares of BlackSky Technology during the third quarter valued at $50,000. Finally, Russell Investments Group Ltd. bought a new position in shares of BlackSky Technology during the third quarter valued at $53,000. 27.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on BKSY shares. Weiss Ratings restated a “sell (d-)” rating on shares of BlackSky Technology in a report on Monday, April 20th. Jefferies Financial Group downgraded BlackSky Technology from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a report on Monday, June 1st. HC Wainwright reiterated a “buy” rating and issued a $42.00 price objective on shares of BlackSky Technology in a report on Friday, February 27th. Wall Street Zen downgraded BlackSky Technology from a “hold” rating to a “strong sell” rating in a report on Saturday, May 16th. Finally, Canaccord Genuity Group reduced their price objective on BlackSky Technology from $27.00 to $26.00 and set a “buy” rating for the company in a report on Friday, February 27th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $36.50.

BlackSky Technology Price Performance

NYSE BKSY opened at $34.91 on Friday. BlackSky Technology Inc. has a one year low of $10.80 and a one year high of $52.88. The stock has a 50-day moving average of $37.49 and a 200 day moving average of $27.22. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -13.69 and a beta of 2.52. The company has a debt-to-equity ratio of 2.39, a quick ratio of 3.34 and a current ratio of 3.46.

BlackSky Technology (NYSE:BKSY) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.82) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.45). BlackSky Technology had a negative return on equity of 74.25% and a negative net margin of 89.07%.The business had revenue of $20.77 million during the quarter, compared to the consensus estimate of $27.60 million. On average, sell-side analysts forecast that BlackSky Technology Inc. will post -1.32 EPS for the current year.

BlackSky Technology Profile

BlackSky Technology, Inc operates Earth observation and geospatial intelligence services through a constellation of small satellites and an analytics platform. The company collects and processes high-revisit satellite imagery, enabling near-real-time monitoring of global events and locations. Clients across government, defense and commercial sectors leverage BlackSky’s imagery and data to support decision-making in areas such as supply chain monitoring, humanitarian aid, infrastructure management and security operations.

Founded in 2014 as part of Spaceflight Industries, BlackSky has grown its satellite constellation and analytics capabilities to deliver satellite imagery with high revisit rates and rapid tasking.