BlackSky Technology (NYSE:BKSY) Stock Price Down 7.6% Following 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)'s share price was down 7.6% during mid-day trading on Tuesday following insider selling activity. The company traded as low as $18.34 and last traded at $18.19. Approximately 285,060 shares were traded during mid-day trading, a decline of 82% from the average daily 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 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 $419,428.20. Following the completion of the transaction, the chief accounting officer directly owned 402,652 shares in the company, valued at approximately $7,026,277.40. The trade was a 5.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Henry Edward Dubois sold 31,646 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 value of $552,222.70. Following the transaction, the chief financial officer owned 474,582 shares of the company's stock, valued at $8,281,455.90. The trade was a 6.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, CEO Brian E. O'toole sold 33,292 shares of the business'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 $580,945.40. Following the completion of the transaction, the chief executive officer directly owned 750,164 shares in the company, valued at approximately $13,090,361.80. The trade was a 4.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Lake Street Capital boosted 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. Canaccord Genuity Group cut their price objective on BlackSky Technology from $28.00 to $27.00 and set a "buy" rating for the company in a report on Tuesday, July 22nd. HC Wainwright increased their price objective on BlackSky Technology from $20.00 to $28.00 and gave the company a "buy" rating in a report on Monday, July 21st. Finally, Wall Street Zen downgraded BlackSky Technology from a "hold" rating to a "strong sell" rating in a report on Saturday, August 9th. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $23.50.

BlackSky Technology Stock Performance

The stock has a 50 day moving average of $18.94 and a 200 day moving average of $14.01. 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 company has a market capitalization of $746.64 million, a price-to-earnings ratio of -6.26 and a beta of 2.15.

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). The company had revenue of $22.20 million during the quarter, compared to analyst estimates of $22.17 million. BlackSky Technology had a negative return on equity of 52.27% and a negative net margin of 82.04%. 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 year.

Institutional Investors Weigh In On BlackSky Technology

Hedge funds and other institutional investors have recently modified their holdings of the company. IFP Advisors Inc grew its holdings in BlackSky Technology by 35,575.0% during the second quarter. IFP Advisors Inc now owns 1,427 shares of the company's stock worth $32,000 after buying an additional 1,423 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in BlackSky Technology by 6,937.5% during the second quarter. Nisa Investment Advisors LLC now owns 1,689 shares of the company's stock worth $35,000 after buying an additional 1,665 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in BlackSky Technology by 22.7% during 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 in the last quarter. GAMMA Investing LLC grew its holdings in BlackSky Technology by 14,829.2% during the first quarter. GAMMA Investing LLC now owns 7,166 shares of the company's stock worth $55,000 after buying an additional 7,118 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC bought a new stake in BlackSky Technology during the second quarter worth $57,000. Institutional investors own 27.15% of the company's stock.

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.