BlackSky Technology (NYSE:BKSY) Stock Price Up 8.6% - Still a Buy?

Key Points

• BlackSky Technology Inc. shares rose by 8.6% to close at $26.52, despite a significant decrease in trading volume.
• Recent analyst ratings show a mix of upgrades and downgrades: targets range from $18.00 to $42.00, with an average price target of $29.00.
• Insider trading activity revealed that CFO Henry Edward Dubois sold 31,646 shares, indicating a 6.25% decrease in his ownership, highlighting potential insider sentiment.

BlackSky Technology Inc. (NYSE:BKSY - Get Free Report) traded up 8.6% on Monday . The stock traded as high as $26.82 and last traded at $26.52. 331,418 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 1,706,816 shares. The stock had previously closed at $24.42.

Analyst Upgrades and Downgrades

BKSY has been the subject of a number of recent analyst reports. Lake Street Capital lifted their target price on shares of BlackSky Technology from $18.00 to $28.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Canaccord Genuity Group reduced their target price on 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 cut BlackSky Technology from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 9th. HC Wainwright lifted their target price on BlackSky Technology from $28.00 to $42.00 and gave the stock a "buy" rating in a report on Friday, October 10th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of BlackSky Technology in a report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $29.00.

BlackSky Technology Stock Performance

The stock has a market capitalization of $946.28 million, a price-to-earnings ratio of -7.94 and a beta of 2.22. 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's 50 day moving average is $20.60 and its 200-day moving average is $16.32.

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 firm had revenue of $22.20 million for 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. Analysts forecast that BlackSky Technology Inc. will post -2.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Henry Edward Dubois sold 31,646 shares of the business's stock in a transaction dated 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Christiana L. Lin sold 24,036 shares of BlackSky Technology stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $17.45, for a total value of $419,428.20. Following the completion of the sale, the chief accounting officer owned 402,652 shares in the company, 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. Over the last ninety days, insiders sold 89,694 shares of company stock worth $1,565,160. Company insiders own 3.80% of the company's stock.

Hedge Funds Weigh In On BlackSky Technology

A number of institutional investors and hedge funds have recently bought and sold shares of BKSY. Nuveen LLC acquired a new stake in BlackSky Technology in the 1st quarter valued at about $9,582,000. Geode Capital Management LLC lifted its position in BlackSky Technology by 7.3% during the second quarter. Geode Capital Management LLC now owns 612,919 shares of the company's stock worth $12,616,000 after buying an additional 41,922 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in BlackSky Technology by 343.7% during the first quarter. Goldman Sachs Group Inc. now owns 557,729 shares of the company's stock worth $4,311,000 after buying an additional 432,023 shares during the last quarter. Jump Financial LLC grew its holdings in 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 buying an additional 269,700 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of BlackSky Technology by 94.9% in the 2nd quarter. Invesco Ltd. now owns 423,845 shares of the company's stock worth $8,723,000 after acquiring an additional 206,371 shares during the last quarter. 27.15% of the stock is currently owned by institutional investors and hedge funds.

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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