BlackSky Technology Stock to Reverse Split on Monday, September 9th (NYSE:BKSY)

BlackSky Technology Inc. (NYSE:BKSY) shares are going to reverse split on the morning of Monday, September 9th. The 1-8 reverse split was announced on Wednesday, September 4th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, September 6th.

BlackSky Technology Stock Down 20.6 %

Shares of BlackSky Technology stock traded down $0.23 during trading on Thursday, reaching $0.88. The stock had a trading volume of 4,082,013 shares, compared to its average volume of 611,827. 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 company has a market capitalization of $131.29 million, a price-to-earnings ratio of -2.32 and a beta of 1.00. The stock has a fifty day moving average price of $1.09 and a two-hundred day moving average price of $1.19. BlackSky Technology has a 52 week low of $0.84 and a 52 week high of $1.77.

BlackSky Technology (NYSE:BKSY) last released its earnings results on Thursday, August 8th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.03. BlackSky Technology had a negative return on equity of 56.91% and a negative net margin of 26.78%. The firm had revenue of $24.94 million for the quarter, compared to analysts’ expectations of $25.14 million. During the same quarter in the previous year, the business posted ($0.24) EPS. Sell-side analysts predict that BlackSky Technology will post -0.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “buy” rating and set a $2.50 price target on shares of BlackSky Technology in a report on Thursday, May 9th.

Hedge Funds Weigh In On BlackSky Technology

Several hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp boosted its stake in shares of BlackSky Technology by 32.8% in the 4th quarter. Van ECK Associates Corp now owns 43,346 shares of the company’s stock valued at $61,000 after purchasing an additional 10,701 shares in the last quarter. GSA Capital Partners LLP grew its stake in shares of BlackSky Technology by 123.8% during the first quarter. GSA Capital Partners LLP now owns 315,900 shares of the company’s stock worth $430,000 after buying an additional 174,773 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of BlackSky Technology by 17.8% during the first quarter. Vanguard Group Inc. now owns 5,291,909 shares of the company’s stock worth $7,197,000 after buying an additional 800,287 shares during the last quarter. Virtu Financial LLC increased its holdings in shares of BlackSky Technology by 134.5% during the first quarter. Virtu Financial LLC now owns 145,514 shares of the company’s stock worth $198,000 after buying an additional 83,462 shares in the last quarter. Finally, LA Financiere DE L Echiquier lifted its stake in shares of BlackSky Technology by 13.6% in the 2nd quarter. LA Financiere DE L Echiquier now owns 933,000 shares of the company’s stock valued at $998,000 after acquiring an additional 112,000 shares during the last quarter. 27.15% of the stock is owned by institutional investors.

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.