BlackSky Technology (NYSE:BKSY) Stock Price Up 7.2% - What's Next?

Key Points

• BlackSky Technology Inc. shares rose 7.2% to $16.58 amidst trading, although the volume was significantly lower than average.
• Investment analysts are divided on BKSY, with some increasing their target prices to $28.00 while others lowered their ratings to "strong sell," reflecting differing outlooks.
• BlackSky reported a quarterly earnings miss with an EPS of ($0.52), but revenues slightly exceeded analyst estimates at $22.20 million.

Shares of BlackSky Technology Inc. (NYSE:BKSY - Get Free Report) were up 7.2% during mid-day trading on Thursday . The stock traded as high as $16.08 and last traded at $16.58. Approximately 57,800 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 1,589,222 shares. The stock had previously closed at $15.47.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BKSY shares. Canaccord Genuity Group cut their price objective on BlackSky Technology from $28.00 to $27.00 and set a "buy" rating on the stock in a report on Tuesday, July 22nd. HC Wainwright boosted their price objective on BlackSky Technology from $20.00 to $28.00 and gave the company a "buy" rating in a report on Monday, July 21st. Wall Street Zen downgraded BlackSky Technology from a "hold" rating to a "strong sell" rating in a report on Saturday, August 9th. Finally, Lake Street Capital boosted their price objective on BlackSky Technology from $18.00 to $28.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Six research analysts have rated the stock with a Buy rating, According to MarketBeat, BlackSky Technology currently has an average rating of "Buy" and an average price target of $23.50.

BlackSky Technology Trading Down 5.5%

The company has a fifty day simple moving average of $19.19 and a two-hundred day simple moving average of $13.83. 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 company has a market cap of $660.36 million, a PE ratio of -5.54 and a beta of 2.16.

BlackSky Technology (NYSE:BKSY - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.52) 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 business had revenue of $22.20 million during the quarter, compared to analysts' expectations of $22.17 million. BlackSky Technology has set its FY 2025 guidance at EPS. Analysts anticipate that BlackSky Technology Inc. will post -2.28 EPS for the current year.

Insider Activity

In related news, CFO Henry Edward Dubois sold 31,646 shares of the company's stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $17.45, for a total value of $552,222.70. Following the completion of the sale, the chief financial officer directly owned 474,582 shares of the company's stock, valued at $8,281,455.90. This represents a 6.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian E. O'toole sold 33,292 shares of the company'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 completion of the sale, 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 disclosure for this sale can be found here. In the last 90 days, insiders have 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

A number of large investors have recently made changes to their positions in BKSY. Northern Trust Corp boosted its position in shares of BlackSky Technology by 89.1% in the 4th quarter. Northern Trust Corp now owns 202,153 shares of the company's stock valued at $2,181,000 after purchasing an additional 95,228 shares during the period. BNP Paribas Financial Markets boosted its position in shares of BlackSky Technology by 22.7% in the 4th quarter. BNP Paribas Financial Markets now owns 3,691 shares of the company's stock valued at $40,000 after purchasing an additional 683 shares during the period. Bank of America Corp DE boosted its position in shares of BlackSky Technology by 194.0% in the 4th quarter. Bank of America Corp DE now owns 23,163 shares of the company's stock valued at $250,000 after purchasing an additional 15,285 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of BlackSky Technology in the 4th quarter valued at about $180,000. Finally, Graham Capital Management L.P. acquired a new stake in shares of BlackSky Technology in the 4th quarter valued at about $186,000. 27.15% of the stock is 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.