BlackSky Technology (NYSE:BKSY) Trading Down 5.7% – Here’s What Happened

BlackSky Technology Inc. (NYSE:BKSY) shares were down 5.7% during mid-day trading on Friday . The stock traded as low as $13.25 and last traded at $14.1420. Approximately 685,322 shares traded hands during trading, a decline of 61% from the average daily volume of 1,736,036 shares. The stock had previously closed at $14.99.

Wall Street Analysts Forecast Growth

BKSY has been the topic of a number of recent analyst reports. HC Wainwright boosted their price target on BlackSky Technology from $28.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. Lake Street Capital boosted their target price on shares of BlackSky Technology from $18.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Wall Street Zen downgraded shares of BlackSky Technology from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of BlackSky Technology in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $29.00.

BlackSky Technology Price Performance

The firm has a 50-day moving average price of $21.36 and a 200 day moving average price of $18.12. The stock has a market capitalization of $549.68 million, a P/E ratio of -4.84 and a beta of 2.24. The company has a debt-to-equity ratio of 2.08, a quick ratio of 3.89 and a current ratio of 3.89.

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

Insider Buying and Selling

In other news, CEO Brian E. O’toole sold 33,292 shares of the business’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $17.45, for a total value of $580,945.40. Following the sale, the chief executive officer directly owned 750,164 shares in the company, valued at $13,090,361.80. The trade was a 4.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Christiana L. Lin sold 24,036 shares of the business’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 $419,428.20. Following the transaction, the chief accounting officer owned 402,652 shares of the company’s stock, valued at approximately $7,026,277.40. The trade was a 5.63% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 89,694 shares of company stock worth $1,565,160. Insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd acquired a new stake in shares of BlackSky Technology during the 3rd quarter worth approximately $56,000. Sender Co & Partners Inc. purchased a new position in BlackSky Technology during the third quarter worth approximately $261,000. Wasatch Advisors LP purchased a new stake in shares of BlackSky Technology in the third quarter valued at approximately $8,278,000. Wexford Capital LP acquired a new position in shares of BlackSky Technology during the 3rd quarter worth approximately $30,000. Finally, Verition Fund Management LLC grew its stake in BlackSky Technology by 130.0% in the 3rd quarter. Verition Fund Management LLC now owns 90,687 shares of the company’s stock valued at $1,827,000 after acquiring an additional 51,265 shares during the period. 27.15% of the stock is owned by institutional investors and hedge funds.

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.