BlackSky Technology (NYSE:BKSY) Trading Down 6.1% - Should You Sell?

Key Points

• BlackSky shares fell 6.1% to about $21.37 in light trading, below both their 50-day moving average of $24.34 and 200-day moving average of $29.75.
• Analyst sentiment remains mixed but leans positive, with a consensus “Moderate Buy” rating and an average price target of $39.33, substantially above the recent trading price.
• The company remains unprofitable after reporting a quarterly EPS loss of $0.54, missing estimates, despite revenue exceeding expectations. Insiders sold roughly $2.3 million of stock over the past 90 days, primarily to cover tax obligations from vested equity awards.

Shares of BlackSky Technology Inc. (NYSE:BKSY - Get Free Report) traded down 6.1% on Friday . The company traded as low as $21.52 and last traded at $21.3650. Approximately 150,669 shares were traded during trading, a decline of 91% from the average session volume of 1,659,793 shares. The stock had previously closed at $22.76.

Wall Street Analysts Forecast Growth

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

BlackSky Technology Price Performance

The stock has a 50-day simple moving average of $24.34 and a 200 day simple moving average of $29.75. The company has a market cap of $867.36 million, a PE ratio of -11.61 and a beta of 2.61. The company has a quick ratio of 5.72, a current ratio of 5.83 and a debt-to-equity ratio of 0.94.

BlackSky Technology (NYSE:BKSY - Get Free Report) last issued its 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). BlackSky Technology had a negative net margin of 61.24% and a negative return on equity of 51.24%. The company had revenue of $33.32 million during the quarter, compared to analyst estimates of $30.72 million. Equities analysts expect that BlackSky Technology Inc. will post -1.09 EPS for the current year.

Insider Activity

In other BlackSky Technology news, CFO Henry Dubois sold 15,225 shares of the firm's stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $20.95, for a total transaction of $318,963.75. Following the sale, the chief financial officer directly owned 482,931 shares in the company, valued at approximately $10,117,404.45. This trade represents a 3.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Brian E. O'toole sold 56,280 shares of the business's stock in a transaction on Friday, September 11th. The stock was sold at an average price of $20.95, for a total value of $1,179,066.00. Following the sale, the chief executive officer owned 1,063,396 shares in the company, valued at $22,278,146.20. This represents a 5.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 108,557 shares of company stock valued at $2,303,189. Insiders own 5.20% of the company's stock.

Hedge Funds Weigh In On BlackSky Technology

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tidal Investments LLC purchased a new position in BlackSky Technology during the 2nd quarter valued at about $39,289,000. Integrated Wealth Concepts LLC purchased a new position in BlackSky Technology during the 2nd quarter worth $216,000. Squarepoint Ops LLC acquired a new stake in BlackSky Technology in the second quarter valued at approximately $1,127,000. Connective Capital Management LLC purchased a new position in BlackSky Technology during the 2nd quarter worth approximately $400,000. Finally, Arizona State Retirement System purchased a new position in BlackSky Technology during the second quarter valued at $236,000. Hedge funds and other institutional investors own 27.15% of the company's stock.

BlackSky Technology Company Profile

BlackSky Technology Inc is a space-based intelligence and geospatial analytics company that provides timely Earth-observation data and analysis to government and commercial customers. The company operates a satellite constellation designed to collect high-resolution imagery and support persistent monitoring of locations and activities around the world.

BlackSky's offerings include satellite imagery, automated change detection, geospatial intelligence, and artificial intelligence-powered analytics.

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