BlackSky Technology (NYSE:BKSY) Shares Up 6.7% - What's Next?

Key Points

• BlackSky Technology's shares rose by 6.7% to a high of $30.49, with a trading volume that increased by 35% compared to the average.
• Despite a recent positive stock movement, several analysts have adjusted their ratings, with one firm lowering its price target from $28 to $27, reflecting a mixed sentiment towards the stock.
• The company reported a loss of ($0.52) earnings per share for the most recent quarter, slightly missing analyst expectations, but still achieved revenue of $22.20 million, slightly above forecasts.

Shares of BlackSky Technology Inc. (NYSE:BKSY - Get Free Report) shot up 6.7% on Tuesday . The stock traded as high as $29.64 and last traded at $30.49. 2,236,252 shares changed hands during trading, an increase of 35% from the average session volume of 1,656,556 shares. The stock had previously closed at $28.58.

Analyst Ratings Changes

Several research analysts have recently commented on BKSY shares. Canaccord Genuity Group lowered 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 note on Tuesday, July 22nd. Wall Street Zen lowered shares of BlackSky Technology from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 9th. HC Wainwright raised their price objective on shares of BlackSky Technology from $20.00 to $28.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Weiss Ratings reissued a "sell (d-)" rating on shares of BlackSky Technology in a research note on Saturday, September 27th. Finally, 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 note on Thursday, July 24th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $26.20.

BlackSky Technology Stock Up 6.6%

The business's 50 day moving average is $18.81 and its 200-day moving average is $15.05. The company has a debt-to-equity ratio of 1.35, a current ratio of 3.71 and a quick ratio of 3.71. The company has a market cap of $1.08 billion, a PE ratio of -9.06 and a beta of 2.22.

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). The firm had revenue of $22.20 million during the quarter, compared to analysts' expectations 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.

Insider Transactions at BlackSky Technology

In other news, CFO Henry Edward Dubois sold 31,646 shares of the business's 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 owned 474,582 shares in the company, valued at approximately $8,281,455.90. The trade was a 6.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Christiana L. Lin sold 24,036 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 transaction of $419,428.20. Following the sale, the chief accounting officer owned 402,652 shares of the company's stock, valued at $7,026,277.40. This represents a 5.63% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,694 shares of company stock worth $1,565,160. 3.80% of the stock is currently owned by insiders.

Institutional Trading of BlackSky Technology

Several institutional investors have recently modified their holdings of BKSY. Nuveen LLC acquired a new position in shares of BlackSky Technology in the 1st quarter valued at $9,582,000. Goldman Sachs Group Inc. increased its holdings in shares of BlackSky Technology by 343.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 557,729 shares of the company's stock valued at $4,311,000 after acquiring an additional 432,023 shares during the period. Jump Financial LLC increased its holdings in shares of BlackSky Technology by 128.2% in the 2nd quarter. Jump Financial LLC now owns 480,048 shares of the company's stock valued at $9,879,000 after acquiring an additional 269,700 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of BlackSky Technology in the 1st quarter valued at $1,728,000. Finally, Invesco Ltd. increased its holdings in shares of BlackSky Technology by 94.9% in the 2nd quarter. Invesco Ltd. now owns 423,845 shares of the company's stock valued at $8,723,000 after acquiring an additional 206,371 shares during the period. Hedge funds and other institutional investors own 27.15% of the company's stock.

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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