BlackSky Technology's (BKSY) Sell (D-) Rating Reaffirmed at Weiss Ratings

Key Points

• BlackSky Technology's stock received a reaffirmed “sell (D-)” rating from Weiss Ratings, indicating ongoing concerns about the company's performance.
• Analysts have mixed views on the stock, with target prices varying from $18.00 to $28.00, and an average rating categorized as a "Moderate Buy."
• Recent insider trading activities revealed that both the CEO and CFO sold shares worth over $1 million combined, representing a decrease in their ownership in the company.

BlackSky Technology (NYSE:BKSY - Get Free Report)'s stock had its "sell (d-)" rating restated by equities research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Several other analysts also recently weighed in on BKSY. Canaccord Genuity Group cut their target price on BlackSky Technology from $28.00 to $27.00 and set a "buy" rating on the stock in a research note on Tuesday, July 22nd. Lake Street Capital boosted their price objective 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. Wall Street Zen cut shares of BlackSky Technology from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 9th. Finally, HC Wainwright boosted their price objective on shares of BlackSky Technology from $20.00 to $28.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, BlackSky Technology currently has an average rating of "Moderate Buy" and an average target price of $26.20.

BlackSky Technology Price Performance

Shares of NYSE:BKSY traded down $0.03 on Wednesday, hitting $30.12. The company had a trading volume of 4,028,449 shares, compared to its average volume of 1,686,762. The business has a 50 day moving average of $19.03 and a 200 day moving average of $15.16. BlackSky Technology has a 52-week low of $5.60 and a 52-week high of $31.79. The company has a market cap of $1.07 billion, a PE ratio of -8.96 and a beta of 2.22. The company has a current ratio of 3.71, a quick ratio of 3.71 and a debt-to-equity ratio of 1.35.

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 return on equity of 52.27% and a negative net margin of 82.04%.The firm 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. As a group, equities analysts anticipate that BlackSky Technology will post -2.28 earnings per share for the current fiscal year.

Insider Activity at BlackSky Technology

In related news, CEO Brian E. O'toole sold 33,292 shares of the firm's stock in a transaction on 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. This trade represents a 4.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Henry Edward Dubois sold 31,646 shares of BlackSky Technology stock in a transaction on Wednesday, September 10th. The stock was 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 approximately $8,281,455.90. This trade represents a 6.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 89,694 shares of company stock valued at $1,565,160. 3.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BlackSky Technology

A number of institutional investors and hedge funds have recently modified their holdings of the business. Nuveen LLC bought a new position in shares of BlackSky Technology in the 1st quarter worth $9,582,000. Goldman Sachs Group Inc. increased its position in shares of BlackSky Technology by 343.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 557,729 shares of the company's stock valued at $4,311,000 after purchasing an additional 432,023 shares during the last quarter. Jump Financial LLC increased 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 worth $9,879,000 after acquiring an additional 269,700 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in BlackSky Technology in the 1st quarter worth about $1,728,000. Finally, Invesco Ltd. boosted its stake in 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 purchasing an additional 206,371 shares during the period. 27.15% of the stock is currently owned by institutional investors.

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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