BlackSky Technology (NYSE:BKSY) Stock Price Expected to Rise, HC Wainwright Analyst Says

Key Points

• HC Wainwright raised the target price for BlackSky Technology (NYSE:BKSY) from $28.00 to $42.00, suggesting a potential upside of 40.09% from the stock's previous close.
• Despite a buy rating from HC Wainwright, other analysts have issued mixed reports, with Canaccord Genuity lowering their target to $27.00 and Weiss Ratings maintaining a "sell" rating.
• In recent insider activity, CEO Brian E. O'toole and CFO Henry Edward Dubois sold shares of the company, resulting in a 4.25% and 6.25% decrease in their respective ownership stakes.

BlackSky Technology (NYSE:BKSY - Get Free Report) had its target price increased by investment analysts at HC Wainwright from $28.00 to $42.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. HC Wainwright's price objective points to a potential upside of 40.09% from the stock's previous close.

BKSY has been the subject of several other reports. Canaccord Genuity Group decreased their price target 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. Weiss Ratings reiterated a "sell (d-)" rating on shares of BlackSky Technology in a research note on Wednesday. Lake Street Capital boosted their price target 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, 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. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, BlackSky Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.00.

BlackSky Technology Stock Down 0.3%

Shares of BKSY opened at $29.98 on Friday. BlackSky Technology has a 12 month low of $5.85 and a 12 month high of $31.79. The company has a current ratio of 3.71, a quick ratio of 3.71 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $1.06 billion, a PE ratio of -8.92 and a beta of 2.22. The firm's 50 day moving average is $19.48 and its 200-day moving average is $15.40.

BlackSky Technology (NYSE:BKSY - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.52) earnings per share 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 net margin of 82.04% and a negative return on equity of 52.27%. BlackSky Technology has set its FY 2025 guidance at EPS. Equities research analysts forecast that BlackSky Technology will post -2.28 EPS for the current year.

Insiders Place Their Bets

In other BlackSky Technology news, CEO Brian E. O'toole sold 33,292 shares of BlackSky Technology 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 completion of the transaction, the chief executive officer directly owned 750,164 shares of the company's stock, valued at approximately $13,090,361.80. The trade was a 4.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction, the chief financial officer directly 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. Over the last ninety days, insiders sold 89,694 shares of company stock valued at $1,565,160. Insiders own 3.80% of the company's stock.

Hedge Funds Weigh In On BlackSky Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Osaic Holdings Inc. boosted its position in shares of BlackSky Technology by 9.1% during the second quarter. Osaic Holdings Inc. now owns 17,443 shares of the company's stock worth $359,000 after acquiring an additional 1,451 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of BlackSky Technology by 638.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 13,432 shares of the company's stock worth $276,000 after acquiring an additional 11,612 shares during the last quarter. Great Valley Advisor Group Inc. increased its stake in BlackSky Technology by 22.5% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 13,600 shares of the company's stock worth $280,000 after buying an additional 2,500 shares during the period. Bank of America Corp DE increased its stake in BlackSky Technology by 197.4% in the 2nd quarter. Bank of America Corp DE now owns 178,743 shares of the company's stock worth $3,679,000 after buying an additional 118,650 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in BlackSky Technology by 1,095.7% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 181,438 shares of the company's stock worth $3,734,000 after buying an additional 166,264 shares during the period. 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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