BlackSky Technology (NYSE:BKSY) Sets New 52-Week High - Time to Buy?

Key Points

• BlackSky Technology (NYSE:BKSY) reached a new 52-week high of $32.70, reflecting strong trading activity with over 1.1 million shares exchanged.
• Analysts have mixed opinions on the stock, with ratings ranging from a "strong sell" to a "buy," leading to a consensus rating of "Moderate Buy" and a price target of $29.00.
• The company reported a quarterly loss of ($0.52) earnings per share, which missed analysts' expectations, while its market capitalization stands at $1.12 billion.

BlackSky Technology Inc. (NYSE:BKSY - Get Free Report) shares reached a new 52-week high on Wednesday . The company traded as high as $32.70 and last traded at $32.56, with a volume of 1106717 shares changing hands. The stock had previously closed at $29.83.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of BlackSky Technology in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of BlackSky Technology from a "hold" rating to a "strong sell" rating in a research report on Saturday, August 9th. Lake Street Capital boosted their price objective on shares of BlackSky Technology from $18.00 to $28.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Canaccord Genuity Group lowered their price target on shares of BlackSky Technology from $28.00 to $27.00 and set a "buy" rating for the company in a report on Tuesday, July 22nd. Finally, HC Wainwright boosted their price objective on shares of BlackSky Technology from $28.00 to $42.00 and gave the company a "buy" rating in a research report on Friday, October 10th. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.00.

BlackSky Technology Stock Up 6.0%

The company has a debt-to-equity ratio of 1.35, a quick ratio of 3.71 and a current ratio of 3.71. The company's fifty day moving average is $20.01 and its 200-day moving average is $15.85. The company has a market capitalization of $1.12 billion, a PE ratio of -9.43 and a beta of 2.22.

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

Insider Activity

In other news, CFO Henry Edward Dubois sold 31,646 shares of the firm's stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $17.45, for a total transaction 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. This trade represents a 6.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Brian E. O'toole sold 33,292 shares of the business's stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $17.45, for a total transaction of $580,945.40. Following the completion of the transaction, the chief executive officer owned 750,164 shares of the company's stock, valued at $13,090,361.80. This represents a 4.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 89,694 shares of company stock worth $1,565,160. Company insiders own 3.80% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. IFP Advisors Inc raised its stake in shares of BlackSky Technology by 35,575.0% during the 2nd quarter. IFP Advisors Inc now owns 1,427 shares of the company's stock worth $32,000 after buying an additional 1,423 shares during the period. Nisa Investment Advisors LLC raised its stake 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 last quarter. GAMMA Investing LLC increased its stake in shares of BlackSky Technology by 14,829.2% in the 1st quarter. GAMMA Investing LLC now owns 7,166 shares of the company's stock worth $55,000 after acquiring an additional 7,118 shares during the last quarter. GPS Wealth Strategies Group LLC acquired a new stake in shares of BlackSky Technology in the 2nd quarter worth $57,000. Finally, Legal & General Group Plc increased its stake in shares of BlackSky Technology by 40.5% in the 2nd quarter. Legal & General Group Plc now owns 3,118 shares of the company's stock worth $64,000 after acquiring an additional 899 shares during the last quarter. 27.15% of the stock is owned by institutional investors and hedge funds.

BlackSky Technology Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.