BlackSky Technology (NYSE:BKSY) Trading Up 8.8% - Here's What Happened

Key Points

• BlackSky Technology Inc. shares rose by 8.8%, hitting a high of $21.48 before last trading at $21.14, despite a significant decline in trading volume.
• Analysts have mixed ratings on BKSY, with a consensus "Buy" rating and an average price target of $23.50; Canaccord reduced their target from $28.00 to $27.00, while HC Wainwright and Lake Street Capital raised theirs to $28.00.
• The firm reported a negative EPS of ($0.52) for the last quarter, missing expectations, and revealed that BlackSky has a high debt-to-equity ratio of 1.35 and a negative net margin of 82.04%.

Shares of BlackSky Technology Inc. (NYSE:BKSY - Get Free Report) were up 8.8% during trading on Friday . The company traded as high as $21.48 and last traded at $21.14. Approximately 691,764 shares were traded during trading, a decline of 57% from the average daily volume of 1,606,909 shares. The stock had previously closed at $19.43.

Wall Street Analyst Weigh In

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

BlackSky Technology Price Performance

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 business's fifty day moving average is $18.94 and its 200 day moving average is $14.04. The firm has a market capitalization of $746.64 million, a P/E ratio of -6.26 and a beta of 2.16.

BlackSky Technology (NYSE:BKSY - Get Free Report) last released its earnings results 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 return on equity of 52.27% and a negative net margin of 82.04%.The business had revenue of $22.20 million during the quarter, compared to the consensus estimate of $22.17 million. BlackSky Technology has set its FY 2025 guidance at EPS. As a group, analysts forecast that BlackSky Technology Inc. will post -2.28 EPS for the current year.

Insider Activity

In other news, CAO Christiana L. Lin sold 24,036 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 $419,428.20. Following the sale, the chief accounting officer owned 402,652 shares in the company, valued at $7,026,277.40. The trade was a 5.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian E. O'toole sold 33,292 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 $580,945.40. Following the sale, the chief executive officer owned 750,164 shares in the company, valued at $13,090,361.80. This represents a 4.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,694 shares of company stock worth $1,565,160 over the last 90 days. 3.80% of the stock is owned by company insiders.

Institutional Trading of BlackSky Technology

Several large investors have recently added to or reduced their stakes in BKSY. 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 worth $32,000 after buying an additional 1,423 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of BlackSky Technology by 6,937.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,689 shares of the company's stock worth $35,000 after buying an additional 1,665 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of BlackSky Technology by 22.7% during the 4th quarter. BNP Paribas Financial Markets now owns 3,691 shares of the company's stock worth $40,000 after buying an additional 683 shares during the period. GAMMA Investing LLC boosted its holdings in shares of BlackSky Technology by 14,829.2% during the 1st quarter. GAMMA Investing LLC now owns 7,166 shares of the company's stock worth $55,000 after buying an additional 7,118 shares during the period. Finally, GPS Wealth Strategies Group LLC bought a new stake in shares of BlackSky Technology during the 2nd quarter worth $57,000. 27.15% of the stock is owned by institutional investors.

BlackSky Technology Company Profile

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.