BlackSky Technology (NYSE:BKSY) Announces Quarterly Earnings Results, Misses Expectations 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) announced its quarterly earnings data on Thursday. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.03), Zacks reports. The business had revenue of $22.20 million during the quarter, compared to analysts' expectations of $22.17 million. BlackSky Technology had a negative return on equity of 50.78% and a negative net margin of 82.04%. BlackSky Technology updated its FY 2025 guidance to EPS.

BlackSky Technology Stock Performance

BKSY traded down $0.08 during midday trading on Friday, reaching $17.13. The company's stock had a trading volume of 2,861,346 shares, compared to its average volume of 2,472,008. The stock has a market cap of $602.12 million, a P/E ratio of -5.10 and a beta of 2.09. The company has a fifty day simple moving average of $18.14 and a 200 day simple moving average of $13.58. The company has a current ratio of 3.79, a quick ratio of 3.79 and a debt-to-equity ratio of 1.26. BlackSky Technology has a twelve month low of $3.86 and a twelve month high of $28.85.

Institutional Trading of BlackSky Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC bought a new stake in shares of BlackSky Technology in the 1st quarter worth approximately $103,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position 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 worth $117,000 after acquiring an additional 1,015 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of BlackSky Technology by 343.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 557,729 shares of the company's stock worth $4,311,000 after acquiring an additional 432,023 shares during the period. Institutional investors and hedge funds own 27.15% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on BKSY. Wall Street Zen downgraded BlackSky Technology from a "hold" rating to a "strong sell" rating in a research note on Saturday. Canaccord Genuity Group dropped their target price 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 upped their target price on BlackSky Technology from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Lake Street Capital upped their target price on BlackSky Technology from $18.00 to $28.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, HC Wainwright upped their target price on BlackSky Technology from $20.00 to $28.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has an average 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.

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