BlackSky Technology (NYSE:BKSY) Shares Gap Up on Analyst Upgrade

Key Points

• BlackSky Technology's shares experienced a significant rebound after HC Wainwright upgraded their price target from $28.00 to $42.00, resulting in the stock opening at $31.24 from a previous close of $29.95.
• Recent insider sales included CFO Henry Edward Dubois selling 31,646 shares for approximately $552,222, reducing his ownership by 6.25%.
• Despite the upgrade, BlackSky Technology faced mixed ratings with an average rating of Moderate Buy, and a consensus target price around $29.00.

Shares of BlackSky Technology Inc. (NYSE:BKSY - Get Free Report) gapped up prior to trading on Friday after HC Wainwright raised their price target on the stock from $28.00 to $42.00. The stock had previously closed at $29.95, but opened at $31.24. HC Wainwright currently has a buy rating on the stock. BlackSky Technology shares last traded at $29.49, with a volume of 436,858 shares changing hands.

BKSY has been the subject of a number of other reports. 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. Weiss Ratings restated a "sell (d-)" rating on shares of BlackSky Technology in a research report on Wednesday. Lake Street Capital raised their price objective on shares of BlackSky Technology from $18.00 to $28.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Finally, Canaccord Genuity Group cut their price objective 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 issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $29.00.

Insider Buying and Selling at BlackSky Technology

In other BlackSky Technology news, CFO Henry Edward Dubois sold 31,646 shares of BlackSky Technology stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $17.45, for a total transaction of $552,222.70. Following the completion of the sale, the chief financial officer directly owned 474,582 shares in the company, valued at $8,281,455.90. The trade was a 6.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Christiana L. Lin sold 24,036 shares of BlackSky Technology stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $17.45, for a total transaction of $419,428.20. Following the sale, the chief accounting officer owned 402,652 shares of the company's stock, valued at approximately $7,026,277.40. The trade was a 5.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,694 shares of company stock worth $1,565,160 over the last three months. 3.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Legal & General Group Plc increased its stake in shares of BlackSky Technology by 40.5% in the second quarter. Legal & General Group Plc now owns 3,118 shares of the company's stock worth $64,000 after buying an additional 899 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of 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 valued at $117,000 after buying an additional 1,015 shares in the last quarter. IFP Advisors Inc boosted its holdings 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 valued at $32,000 after buying an additional 1,423 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in shares of BlackSky Technology by 9.1% during the 2nd quarter. Osaic Holdings Inc. now owns 17,443 shares of the company's stock valued at $359,000 after buying an additional 1,451 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey boosted its stake in BlackSky Technology by 32.3% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 6,678 shares of the company's stock worth $137,000 after purchasing an additional 1,629 shares in the last quarter. 27.15% of the stock is owned by hedge funds and other institutional investors.

BlackSky Technology Trading Up 0.4%

The company has a market cap of $1.07 billion, a P/E ratio of -8.86 and a beta of 2.22. The stock's 50 day moving average is $19.48 and its 200-day moving average is $15.40. The company has a current ratio of 3.71, a quick ratio of 3.71 and a debt-to-equity ratio of 1.35.

BlackSky Technology (NYSE:BKSY - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.03). The company had revenue of $22.20 million for the quarter, compared to the consensus estimate 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. Research analysts anticipate that BlackSky Technology Inc. will post -2.28 earnings per share for the current fiscal year.

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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