BlackSky Technology (NYSE:BKSY) Trading Up 5.5% – Should You Buy?

Shares of BlackSky Technology Inc. (NYSE:BKSY) shot up 5.5% during mid-day trading on Wednesday . The company traded as high as $18.39 and last traded at $18.0660. 226,665 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 1,736,857 shares. The stock had previously closed at $17.13.

Analyst Ratings Changes

A number of analysts have commented on BKSY shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BlackSky Technology in a report on Wednesday, October 8th. Wall Street Zen downgraded BlackSky Technology from a “hold” rating to a “strong sell” rating in a report on Saturday, August 9th. Finally, HC Wainwright increased their target price on BlackSky Technology from $28.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, October 10th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, BlackSky Technology currently has an average rating of “Moderate Buy” and a consensus price target of $29.00.

BlackSky Technology Price Performance

The company’s 50-day simple moving average is $21.18 and its 200-day simple moving average is $18.37. The company has a debt-to-equity ratio of 2.08, a current ratio of 3.89 and a quick ratio of 3.89. The stock has a market capitalization of $633.78 million, a price-to-earnings ratio of -5.62 and a beta of 2.24.

BlackSky Technology (NYSE:BKSY) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.02. BlackSky Technology had a negative return on equity of 54.48% and a negative net margin of 87.11%.The business had revenue of $19.62 million during the quarter, compared to the consensus estimate of $28.67 million. BlackSky Technology has set its FY 2025 guidance at EPS. Research analysts forecast that BlackSky Technology Inc. will post -2.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BlackSky Technology news, CEO Brian E. O’toole sold 33,292 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 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 $13,090,361.80. The trade was a 4.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Christiana L. Lin sold 24,036 shares of the firm’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $17.45, for a total value of $419,428.20. Following the completion of the transaction, 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 position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 89,694 shares of company stock worth $1,565,160 in the last quarter. Corporate insiders own 3.80% of the company’s stock.

Institutional Trading of BlackSky Technology

A number of institutional investors and hedge funds have recently made changes to their positions in the company. CIBC Bancorp USA Inc. acquired a new position in BlackSky Technology during the third quarter valued at approximately $218,000. Caitong International Asset Management Co. Ltd acquired a new stake in BlackSky Technology in the third quarter valued at about $56,000. Sender Co & Partners Inc. bought a new position in BlackSky Technology in the third quarter valued at about $261,000. Wasatch Advisors LP acquired a new position in BlackSky Technology during the third quarter worth about $8,278,000. Finally, Wexford Capital LP bought a new position in shares of BlackSky Technology in the third quarter worth about $30,000. Institutional investors own 27.15% of the company’s stock.

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.