BlackSky Technology (NYSE:BKSY) Shares Down 9.5% - What's Next?

Key Points

• BlackSky Technology's shares fell by 9.5% on Wednesday, trading as low as $23.24, significantly below its previous close of $25.20.
• Several brokerages have given mixed ratings on the stock, with a consensus of "Moderate Buy" and an average price target of $29.00.
• The company reported a negative EPS of ($0.52) for the last quarter, missing estimates, and has set its FY 2025 guidance at -2.28 EPS.

BlackSky Technology Inc. (NYSE:BKSY - Get Free Report)'s share price dropped 9.5% on Wednesday . The company traded as low as $23.24 and last traded at $22.79. Approximately 393,820 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 1,702,172 shares. The stock had previously closed at $25.20.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BKSY. Wall Street Zen downgraded shares of BlackSky Technology from a "hold" rating to a "strong sell" rating in a report on Saturday, August 9th. Lake Street Capital upped their price target on shares of BlackSky Technology from $18.00 to $28.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Weiss Ratings reissued a "sell (d-)" rating on shares of BlackSky Technology in a research report on Wednesday, October 8th. HC Wainwright increased their target price 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. Finally, Canaccord Genuity Group decreased their target price on shares of BlackSky Technology from $28.00 to $27.00 and set a "buy" rating for the company in a research report on Tuesday, July 22nd. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $29.00.

BlackSky Technology Price 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 firm has a market cap of $760.83 million, a price-to-earnings ratio of -6.38 and a beta of 2.22. The stock's 50 day simple moving average is $20.94 and its 200-day simple moving average is $16.52.

BlackSky Technology (NYSE:BKSY - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company 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. Equities research analysts anticipate that BlackSky Technology Inc. will post -2.28 EPS for the current fiscal year.

Insider Transactions at BlackSky Technology

In other news, CEO Brian E. O'toole sold 33,292 shares of the firm's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $17.45, for a total value of $580,945.40. Following the transaction, the chief executive officer directly owned 750,164 shares of the company's stock, valued at approximately $13,090,361.80. This trade represents a 4.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Christiana L. Lin sold 24,036 shares of the firm'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. This represents a 5.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,694 shares of company stock worth $1,565,160 over the last 90 days. 3.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BlackSky Technology

A number of institutional investors have recently made changes to their positions in the stock. Griffin Asset Management Inc. lifted its holdings in BlackSky Technology by 1.6% in the 3rd quarter. Griffin Asset Management Inc. now owns 48,856 shares of the company's stock valued at $984,000 after purchasing an additional 746 shares in the last quarter. Legal & General Group Plc increased its position in BlackSky Technology by 40.5% during the 2nd quarter. Legal & General Group Plc now owns 3,118 shares of the company's stock worth $64,000 after purchasing an additional 899 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in BlackSky Technology by 7.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,174 shares of the company's stock worth $117,000 after purchasing an additional 1,015 shares in the last quarter. IFP Advisors Inc grew its position 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 in the last quarter. Finally, Osaic Holdings Inc. grew its position in BlackSky Technology by 9.1% in the second quarter. Osaic Holdings Inc. now owns 17,443 shares of the company's stock valued at $359,000 after acquiring an additional 1,451 shares in the last quarter. 27.15% of the stock is currently 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.

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