BlackSky Technology (NYSE:BKSY) Hits New 1-Year High - Here's Why

Key Points

• BlackSky Technology recently hit a 52-week high of $28.85, demonstrating strong trading performance with significant volume, closing at $28.20.
• Analysts have mixed views on the stock; HC Wainwright raised their price target to $28.00 while other firms have set lower targets or issued sell ratings, leading to a consensus rating of "Moderate Buy".
• Insider transactions show significant selling activity, with executives like CFO Henry Edward Dubois and CEO Brian E. O’toole reducing their holdings, which could indicate potential concerns among company leadership.

BlackSky Technology Inc. (NYSE:BKSY - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The company traded as high as $28.85 and last traded at $28.20, with a volume of 1700196 shares. The stock had previously closed at $25.52.

Analysts Set New Price Targets

Several research analysts recently commented on the company. HC Wainwright increased their price target on BlackSky Technology from $20.00 to $28.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Canaccord Genuity Group lowered their price objective on shares of BlackSky Technology from $28.00 to $27.00 and set a "buy" rating on the stock in a research note on Tuesday, July 22nd. Wall Street Zen cut BlackSky Technology from a "hold" rating to a "strong sell" rating in a report on Saturday, August 9th. Weiss Ratings restated a "sell (d-)" rating on shares of BlackSky Technology in a research note on Saturday, September 27th. Finally, Lake Street Capital raised their price objective on BlackSky Technology from $18.00 to $28.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, BlackSky Technology currently has a consensus rating of "Moderate Buy" and an average target price of $26.20.

BlackSky Technology Stock Up 12.0%

The company has a quick ratio of 3.71, a current ratio of 3.71 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -8.51 and a beta of 2.22. The firm has a 50 day moving average of $18.63 and a two-hundred day moving average of $14.91.

BlackSky Technology (NYSE:BKSY - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.03). BlackSky Technology had a negative net margin of 82.04% and a negative return on equity of 52.27%. The firm had revenue of $22.20 million during the quarter, compared to the consensus estimate of $22.17 million. BlackSky Technology has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that BlackSky Technology Inc. will post -2.28 EPS for the current fiscal year.

Insider Transactions at BlackSky Technology

In other news, CFO Henry Edward Dubois sold 31,646 shares of the business's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $17.45, for a total value of $552,222.70. Following the transaction, the chief financial officer owned 474,582 shares in the company, valued at approximately $8,281,455.90. The trade was a 6.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian E. O'toole sold 33,292 shares of BlackSky Technology stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $17.45, for a total transaction of $580,945.40. Following the transaction, the chief executive officer directly owned 750,164 shares of the company's stock, valued at $13,090,361.80. This represents a 4.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold 89,694 shares of company stock worth $1,565,160 over the last ninety days. 3.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BKSY. IFP Advisors Inc raised its holdings in shares of BlackSky Technology by 35,575.0% during the second quarter. IFP Advisors Inc now owns 1,427 shares of the company's stock valued at $32,000 after purchasing an additional 1,423 shares during the period. Nisa Investment Advisors LLC grew its position in BlackSky Technology by 6,937.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,689 shares of the company's stock valued at $35,000 after purchasing an additional 1,665 shares during the period. GPS Wealth Strategies Group LLC bought a new position in BlackSky Technology in the 2nd quarter valued at about $57,000. Legal & General Group Plc boosted its stake in BlackSky Technology by 40.5% during the 2nd quarter. Legal & General Group Plc now owns 3,118 shares of the company's stock valued at $64,000 after purchasing an additional 899 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in BlackSky Technology during the 2nd quarter worth approximately $126,000. 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.

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