BlackSky Technology (NYSE:BKSY) Posts Earnings Results, Misses Estimates By $0.03 EPS

Key Points

• BlackSky Technology reported quarterly earnings of ($0.52) EPS, missing the consensus estimate by $0.03.
• The company's revenue for the quarter was $22.20 million, slightly exceeding analysts' expectations of $22.17 million.
• Several brokerages issued mixed ratings, with a consensus price target for BlackSky Technology set at $23.50, indicating a "Moderate Buy" average rating among analysts.

BlackSky Technology (NYSE:BKSY - Get Free Report) released its quarterly earnings data on Thursday, August 7th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($0.03), Zacks reports. BlackSky Technology had a negative net margin of 82.04% and a negative return on equity of 52.27%. The company had revenue of $22.20 million during the quarter, compared to the consensus estimate of $22.17 million. BlackSky Technology updated its FY 2025 guidance to EPS.

BlackSky Technology Trading Down 1.5%

NYSE:BKSY traded down $0.28 during trading hours on Thursday, hitting $18.21. 1,174,414 shares of the stock were exchanged, compared to its average volume of 2,538,869. The company's 50 day moving average is $18.63 and its two-hundred day moving average is $13.72. BlackSky Technology has a twelve month low of $3.86 and a twelve month high of $28.85. The company has a quick ratio of 3.79, a current ratio of 3.71 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $645.98 million, a P/E ratio of -5.42 and a beta of 2.09.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Legal & General Group Plc lifted its holdings in BlackSky Technology by 40.5% during the 2nd quarter. Legal & General Group Plc now owns 3,118 shares of the company's stock worth $64,000 after buying an additional 899 shares in the last quarter. AQR Capital Management LLC acquired a new position in BlackSky Technology during the 1st quarter worth $103,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of BlackSky Technology by 7.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,174 shares of the company's stock valued at $117,000 after purchasing an additional 1,015 shares during the period. Quantbot Technologies LP acquired a new position in shares of BlackSky Technology in the 2nd quarter valued at $126,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of BlackSky Technology in the 2nd quarter valued at $212,000. Institutional investors and hedge funds own 27.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BKSY. Wall Street Zen lowered BlackSky Technology from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 9th. Canaccord Genuity Group decreased their price target on BlackSky Technology from $28.00 to $27.00 and set a "buy" rating on the stock in a research report on Tuesday, July 22nd. Benchmark increased their price target on BlackSky Technology from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. HC Wainwright increased their price target on BlackSky Technology from $20.00 to $28.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Finally, Lake Street Capital increased their price target on BlackSky Technology from $18.00 to $28.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.50.

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.