HERNDON, Va.—Tracy Ward, the Senior Vice President and Controller at BlackSky Technology Inc. (NYSE:BKSY), recently sold 1,907 shares of the company's Class A Common Stock. The shares were sold at a price of $10.65 each, totaling $20,309. Following this transaction, Ward retains ownership of 31,886 shares in the company. The transaction comes as BlackSky, currently valued at $320 million, shows strong momentum with an 8% gain over the past week. According to InvestingPro data, the company maintains impressive gross profit margins of nearly 70%.
This sale was conducted to cover statutory tax withholding obligations related to the vesting of Restricted Stock Units (RSUs) and is not considered a discretionary sale by Ward. InvestingPro subscribers can access 15+ additional insights about BlackSky's financial health, valuation metrics, and growth prospects through the comprehensive Pro Research Report, helping investors make more informed decisions about this volatile stock.
In other recent news, BlackSky Technology has reported significant growth and progress during its Third Quarter 2024 Earnings Conference Call. The company announced securing contracts worth up to $780 million, a 22% year-to-date revenue increase, and a positive adjusted EBITDA for the fourth consecutive quarter. Additionally, BlackSky has raised over $45 million for its baseline Gen 3 satellite constellation and is nearing the launch of its first Gen 3 satellite, expected in early 2025. These are recent developments that highlight the company's strong position in the market. Despite some revenue delays from Q3 to Q4, BlackSky maintains its 2024 revenue guidance of $102 to $118 million and adjusted EBITDA of $8 to $16 million. The company also aims to begin regular Gen 3 satellite launches in 2025 to meet increasing customer demand.
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