BlackSky Technology Inc. (NYSE:BKSY) Stock Has Average Price Target of $39.33 According to Analysts

Shares of BlackSky Technology Inc. (NYSE:BKSY) have been given an average rating of “Moderate Buy” by the five research firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $39.33.

BKSY has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of BlackSky Technology from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings restated a “sell (d-)” rating on shares of BlackSky Technology in a research note on Friday, July 17th. Jefferies Financial Group raised BlackSky Technology to a “hold” rating in a research report on Wednesday, June 10th. Finally, Clear Str upgraded BlackSky Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th.

Insider Buying and Selling

In other BlackSky Technology news, CEO Brian O’Toole sold 20,000 shares of the business’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $22.88, for a total value of $457,600.00. Following the transaction, the chief executive officer directly owned 1,043,396 shares in the company, valued at $23,872,900.48. The trade was a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Christiana Lin sold 6,000 shares of the stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $23.10, for a total transaction of $138,600.00. Following the transaction, the chief accounting officer owned 421,680 shares of the company’s stock, valued at $9,740,808. This represents a 1.40% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 138,557 shares of company stock worth $2,991,269. Insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On BlackSky Technology

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sei Investments Co. lifted its holdings in shares of BlackSky Technology by 125.5% during the 1st quarter. Sei Investments Co. now owns 65,650 shares of the company’s stock worth $1,652,000 after acquiring an additional 36,541 shares during the last quarter. Jasper Ridge Partners L.P. bought a new position in BlackSky Technology in the second quarter valued at $2,087,000. Tema ETFs LLC raised its position in BlackSky Technology by 110,505.8% during 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. Tidal Investments LLC purchased a new stake in BlackSky Technology during the second quarter valued at about $39,289,000. Finally, Bank of America Corp DE lifted its stake in BlackSky Technology by 156.1% during the first quarter. Bank of America Corp DE now owns 412,891 shares of the company’s stock worth $10,388,000 after purchasing an additional 251,638 shares during the last quarter. 27.15% of the stock is currently owned by institutional investors.

BlackSky Technology Stock Performance

Shares of BKSY stock opened at $21.92 on Wednesday. The company has a quick ratio of 5.72, a current ratio of 5.83 and a debt-to-equity ratio of 0.94. The company has a market cap of $896.88 million, a price-to-earnings ratio of -12.04 and a beta of 2.70. The firm has a 50 day moving average of $24.12 and a 200-day moving average of $29.64. BlackSky Technology has a 52 week low of $12.41 and a 52 week high of $52.88.

BlackSky Technology (NYSE:BKSY) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.16). The business had revenue of $33.32 million for the quarter, compared to the consensus estimate of $30.72 million. BlackSky Technology had a negative net margin of 61.24% and a negative return on equity of 51.24%. On average, equities analysts forecast that BlackSky Technology will post -1.09 earnings per share for the current year.

BlackSky Technology Company Profile

BlackSky Technology Inc provides geospatial intelligence and satellite-imagery services to government and commercial customers. The company operates a constellation of Earth-observation satellites designed to collect high-resolution imagery and other data, supporting monitoring of locations and activities around the world.

BlackSky combines satellite data with artificial intelligence, machine learning and other analytics through its Spectra platform. Its services are intended to deliver timely insights for applications including defense and intelligence, disaster response, infrastructure monitoring, maritime awareness, supply-chain management and other forms of global activity monitoring.

The company was established in 2013 and originated within Spaceflight Industries before becoming a publicly traded company through a business combination completed in 2021.