BlackSky Technology Inc. (NYSE:BKSY) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• BlackSky Technology has a “Moderate Buy” consensus rating from five brokerages, with two buys, one strong buy, one hold and one sell. The average 12-month price target is $39.33, above the reported opening price of $20.49.
• Institutional investors increased their exposure significantly, including major purchases by AWM Investment Company, Tema ETFs and the California State Teachers’ Retirement System. Institutions collectively own 27.15% of the company.
• BlackSky reported quarterly revenue of $33.32 million, exceeding estimates, but its adjusted loss of $0.54 per share was worse than expected. The company remains unprofitable, with a negative net margin of 61.24%, while its CFO sold 4,000 shares under a pre-arranged trading plan.

BlackSky Technology Inc. (NYSE:BKSY - Get Free Report) has been given a consensus rating of "Moderate Buy" by the five brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $39.3333.

Several equities analysts have recently issued reports on the company. Jefferies Financial Group upgraded BlackSky Technology to a "hold" rating in a research report on Wednesday, June 10th. Clear Str upgraded shares of BlackSky Technology from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. Weiss Ratings reissued a "sell (d-)" rating on shares of BlackSky Technology in a report on Friday, July 17th. Finally, Wall Street Zen raised BlackSky Technology from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 15th.

Insiders Place Their Bets

In other BlackSky Technology news, CFO Henry Dubois sold 4,000 shares of BlackSky Technology stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $23.78, for a total value of $95,120.00. Following the sale, the chief financial officer owned 498,156 shares of the company's stock, valued at $11,846,149.68. This trade represents a 0.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 5.20% of the company's stock.

Institutional Investors Weigh In On BlackSky Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System boosted its position in BlackSky Technology by 3,612.6% during the 2nd quarter. California State Teachers Retirement System now owns 976,055 shares of the company's stock worth $27,251,000 after acquiring an additional 949,765 shares during the last quarter. Jasper Ridge Partners L.P. acquired a new position in BlackSky Technology during the second quarter worth $2,087,000. AWM Investment Company Inc. acquired a new position in BlackSky Technology during the second quarter worth $33,504,000. Tema ETFs LLC grew its position in BlackSky Technology by 110,505.8% in the second quarter. Tema ETFs LLC now owns 1,446,724 shares of the company's stock valued at $40,393,000 after purchasing an additional 1,445,416 shares in the last quarter. Finally, FNY Investment Advisers LLC increased its stake in BlackSky Technology by 323.0% in the 2nd quarter. FNY Investment Advisers LLC now owns 21,891 shares of the company's stock valued at $611,000 after buying an additional 16,716 shares during the last quarter. Institutional investors and hedge funds own 27.15% of the company's stock.

BlackSky Technology Price Performance

Shares of BKSY stock opened at $20.49 on Friday. The firm's 50 day moving average price is $25.40 and its two-hundred day moving average price is $29.62. The company has a debt-to-equity ratio of 0.94, a quick ratio of 5.72 and a current ratio of 5.83. BlackSky Technology has a 52-week low of $12.41 and a 52-week high of $52.88. The stock has a market cap of $838.45 million, a PE ratio of -11.26 and a beta of 2.61.

BlackSky Technology (NYSE:BKSY - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.16). The company had revenue of $33.32 million during the quarter, compared to the consensus estimate of $30.72 million. BlackSky Technology had a negative return on equity of 51.24% and a negative net margin of 61.24%. As a group, analysts forecast that BlackSky Technology will post -1.27 EPS for the current year.

About BlackSky Technology

BlackSky Technology, Inc operates Earth observation and geospatial intelligence services through a constellation of small satellites and an analytics platform. The company collects and processes high-revisit satellite imagery, enabling near-real-time monitoring of global events and locations. Clients across government, defense and commercial sectors leverage BlackSky’s imagery and data to support decision-making in areas such as supply chain monitoring, humanitarian aid, infrastructure management and security operations.

Founded in 2014 as part of Spaceflight Industries, BlackSky has grown its satellite constellation and analytics capabilities to deliver satellite imagery with high revisit rates and rapid tasking.

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