HC Wainwright Cuts BlackSky Technology (NYSE:BKSY) Price Target to $12.00

BlackSky Technology (NYSE:BKSY) had its target price trimmed by HC Wainwright from $15.00 to $12.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock. HC Wainwright also issued estimates for BlackSky Technology’s Q4 2024 earnings at ($0.31) EPS, FY2024 earnings at ($2.35) EPS and FY2025 earnings at ($1.35) EPS.

Several other research firms have also commented on BKSY. Lake Street Capital upped their price objective on BlackSky Technology from $4.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Oppenheimer assumed coverage on BlackSky Technology in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $10.00 price objective on the stock. Finally, Craig Hallum upgraded BlackSky Technology from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research report on Friday, October 4th. Five analysts have rated the stock with a buy rating, According to MarketBeat, BlackSky Technology presently has a consensus rating of “Buy” and a consensus price target of $17.60.

BlackSky Technology Price Performance

Shares of NYSE BKSY opened at $6.12 on Wednesday. The business’s 50 day moving average price is $6.95 and its 200 day moving average price is $8.33. The firm has a market cap of $898.60 million, a P/E ratio of -16.11 and a beta of 0.97. BlackSky Technology has a 52 week low of $3.86 and a 52 week high of $14.16. The company has a quick ratio of 4.19, a current ratio of 4.19 and a debt-to-equity ratio of 1.41.

BlackSky Technology (NYSE:BKSY) last issued its earnings results on Thursday, August 8th. The company reported ($0.48) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.24. The firm had revenue of $24.94 million for the quarter, compared to analyst estimates of $25.14 million. BlackSky Technology had a negative return on equity of 56.91% and a negative net margin of 26.78%. During the same quarter in the prior year, the firm earned ($1.92) earnings per share. On average, sell-side analysts expect that BlackSky Technology will post -2.52 earnings per share for the current year.

Insider Transactions at BlackSky Technology

In other news, CFO Henry Edward Dubois sold 23,590 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $7.19, for a total transaction of $169,612.10. Following the completion of the transaction, the chief financial officer now directly owns 231,645 shares of the company’s stock, valued at $1,665,527.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CFO Henry Edward Dubois sold 23,590 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $7.19, for a total transaction of $169,612.10. Following the completion of the transaction, the chief financial officer now directly owns 231,645 shares of the company’s stock, valued at $1,665,527.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Christiana L. Lin sold 13,031 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $7.19, for a total value of $93,692.89. Following the transaction, the chief accounting officer now directly owns 190,775 shares of the company’s stock, valued at approximately $1,371,672.25. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 62,362 shares of company stock valued at $446,535 in the last three months. 3.16% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC raised its stake in BlackSky Technology by 134.5% in the 1st quarter. Virtu Financial LLC now owns 145,514 shares of the company’s stock valued at $198,000 after purchasing an additional 83,462 shares during the last quarter. Squarepoint Ops LLC acquired a new position in BlackSky Technology in the 2nd quarter valued at $295,000. GSA Capital Partners LLP raised its stake in BlackSky Technology by 123.8% in the 1st quarter. GSA Capital Partners LLP now owns 315,900 shares of the company’s stock valued at $430,000 after purchasing an additional 174,773 shares during the last quarter. LA Financiere DE L Echiquier raised its stake in BlackSky Technology by 13.6% in the 2nd quarter. LA Financiere DE L Echiquier now owns 933,000 shares of the company’s stock valued at $998,000 after purchasing an additional 112,000 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in BlackSky Technology by 17.8% in the 1st quarter. Vanguard Group Inc. now owns 5,291,909 shares of the company’s stock valued at $7,197,000 after purchasing an additional 800,287 shares during the last quarter. 27.15% of the stock is owned by institutional investors and hedge funds.

BlackSky Technology Company Profile

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.