BlackSky Technology (NYSE:BKSY) Shares Down 7.6% on Insider Selling

Key Points

• BlackSky Technology's stock price dropped by 7.6% following several insider sales by company executives.
• CAO Christiana L. Lin, CFO Henry Edward Dubois, and CEO Brian E. O'toole all sold shares at an average price of $17.45, resulting in significant decreases in their ownership.
• Despite the drop, analysts maintain a consensus "Buy" rating on the stock, with target prices ranging from $20.00 to $28.00.

BlackSky Technology Inc. (NYSE:BKSY - Get Free Report) shares traded down 7.6% during mid-day trading on Tuesday after an insider sold shares in the company. The stock traded as low as $18.34 and last traded at $18.19. 285,060 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 1,602,336 shares. The stock had previously closed at $19.70.

Specifically, CAO Christiana L. Lin sold 24,036 shares of the company's stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $17.45, for a total value of $419,428.20. Following the sale, the chief accounting officer owned 402,652 shares in the company, valued at approximately $7,026,277.40. This represents a 5.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 value of $552,222.70. Following the completion of the sale, the chief financial officer directly owned 474,582 shares of the company's stock, valued at $8,281,455.90. This trade represents a 6.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, CEO Brian E. O'toole sold 33,292 shares of BlackSky Technology stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $17.45, for a total value of $580,945.40. Following the completion of the transaction, the chief executive officer owned 750,164 shares in the company, valued at approximately $13,090,361.80. This trade represents a 4.25% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Analyst Upgrades and Downgrades

A number of research firms have commented on BKSY. Canaccord Genuity Group decreased 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. 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. HC Wainwright raised their target price on BlackSky Technology from $20.00 to $28.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Finally, Wall Street Zen cut BlackSky Technology from a "hold" rating to a "strong sell" rating in a research report on Saturday, August 9th. Six analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $23.50.

BlackSky Technology Stock Performance

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 stock's 50-day moving average is $19.19 and its 200 day moving average is $13.83. The firm has a market cap of $639.17 million, a P/E ratio of -5.36 and a beta of 2.16.

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

Institutional Investors Weigh In On BlackSky Technology

Several hedge funds and other institutional investors have recently made changes to their positions in the business. IFP Advisors Inc boosted its stake in BlackSky Technology by 35,575.0% in the second quarter. IFP Advisors Inc now owns 1,427 shares of the company's stock valued at $32,000 after acquiring an additional 1,423 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in BlackSky Technology by 6,937.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,689 shares of the company's stock valued at $35,000 after acquiring an additional 1,665 shares during the period. BNP Paribas Financial Markets raised its holdings in BlackSky Technology by 22.7% in the fourth quarter. BNP Paribas Financial Markets now owns 3,691 shares of the company's stock worth $40,000 after buying an additional 683 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of BlackSky Technology by 14,829.2% in the first 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 period. Finally, GPS Wealth Strategies Group LLC bought a new stake in BlackSky Technology during the second quarter valued at approximately $57,000. 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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