BlackSky Technology (NYSE:BKSY) Stock Price Down 6.5% Following Insider Selling

Key Points

• BlackSky Technology shares fell 6.5% to $21.59 after CFO Henry Edward Dubois sold 4,000 shares for $95,120 under a pre-arranged Rule 10b5-1 trading plan. He retained approximately 498,156 shares following the transaction.
• Analyst sentiment remains mixed but leans positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $39.33.
• The company recently reported a quarterly EPS loss of $0.54, missing estimates by $0.16, despite revenue of $33.32 million exceeding expectations; analysts forecast a full-year EPS loss of $1.27.

Shares of BlackSky Technology Inc. (NYSE:BKSY - Get Free Report) dropped 6.5% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $21.70 and last traded at $21.59. Approximately 269,589 shares were traded during trading, a decline of 84% from the average daily volume of 1,709,615 shares. The stock had previously closed at $23.10.

Specifically, CFO Henry Edward Dubois sold 4,000 shares of the business's stock in a transaction on 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 approximately $11,846,149.68. The trade was a 0.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wall Street Zen raised BlackSky Technology from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 15th. Jefferies Financial Group raised BlackSky Technology to a "hold" rating in a research report on Wednesday, June 10th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of BlackSky Technology in a research note on Friday, July 17th. Finally, Clear Str upgraded BlackSky Technology from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $39.33.

BlackSky Technology Price Performance

The stock has a market cap of $883.67 million, a P/E ratio of -11.87 and a beta of 2.61. The company has a current ratio of 5.83, a quick ratio of 5.72 and a debt-to-equity ratio of 0.94. The company's fifty day simple moving average is $25.73 and its 200-day simple moving average is $29.68.

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

Hedge Funds Weigh In On BlackSky Technology

Several institutional investors have recently added to or reduced their stakes in BKSY. Bank of New York Mellon Corp grew its stake in BlackSky Technology by 392.8% during the fourth quarter. Bank of New York Mellon Corp now owns 2,072,543 shares of the company's stock worth $38,860,000 after buying an additional 1,652,014 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of BlackSky Technology by 7.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,697,683 shares of the company's stock worth $34,208,000 after acquiring an additional 123,171 shares in the last quarter. Tema ETFs LLC increased its holdings in BlackSky Technology by 110,505.8% during the 2nd 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. AWM Investment Company Inc. bought a new position in BlackSky Technology in the 2nd quarter valued at $33,504,000. Finally, State Street Corp boosted its stake in BlackSky Technology by 63.3% in the fourth quarter. State Street Corp now owns 996,019 shares of the company's stock worth $18,675,000 after purchasing an additional 386,207 shares in the last quarter. 27.15% of the stock is owned by institutional investors.

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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