BlackSky Technology Inc. (NYSE:BKSY) Stock Has Average Target Price 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 ratings firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $39.33.

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

BlackSky Technology Trading Up 3.6%

BKSY opened at $21.92 on Wednesday. BlackSky Technology has a 12 month low of $12.41 and a 12 month high of $52.88. The stock has a market capitalization of $896.88 million, a price-to-earnings ratio of -12.04 and a beta of 2.70. The company has a debt-to-equity ratio of 0.94, a current ratio of 5.83 and a quick ratio of 5.72. The business has a fifty day moving average price of $24.12 and a 200 day moving average price of $29.60.

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

Insider Transactions at BlackSky Technology

In related news, CEO Brian E. O’toole sold 20,000 shares of the business’s stock in a transaction on Monday, September 21st. The shares were sold at an average price of $22.88, for a total value of $457,600.00. Following the completion of the sale, the chief executive officer directly owned 1,043,396 shares of the company’s stock, valued at $23,872,900.48. The trade was a 1.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Henry Dubois sold 4,000 shares of the company’s stock in a transaction on Monday, September 21st. The shares were sold at an average price of $22.97, for a total transaction of $91,880.00. Following the completion of the transaction, the chief financial officer owned 478,931 shares of the company’s stock, valued at $11,001,045.07. This represents a 0.83% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 138,557 shares of company stock worth $2,991,269. 5.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Tema ETFs LLC boosted its holdings in shares of BlackSky Technology by 110,505.8% in the second quarter. Tema ETFs LLC now owns 1,446,724 shares of the company’s stock valued at $40,393,000 after acquiring an additional 1,445,416 shares during the period. Tidal Investments LLC purchased a new stake in BlackSky Technology in the 2nd quarter valued at $39,289,000. AWM Investment Company Inc. purchased a new stake in BlackSky Technology in the 2nd quarter valued at $33,504,000. Daiwa Securities Group Inc. acquired a new stake in BlackSky Technology during the 4th quarter worth $16,395,000. Finally, Bank of America Corp DE boosted its stake in BlackSky Technology by 156.1% during the 1st 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 period. Hedge funds and other institutional investors own 27.15% of the company’s stock.

About BlackSky Technology

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.