BlackSky Technology (NYSE:BKSY) Releases Earnings Results, Beats Estimates By $0.02 EPS

BlackSky Technology (NYSE:BKSY) announced its earnings results on Thursday. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.02, Zacks reports. BlackSky Technology had a negative return on equity of 54.67% and a negative net margin of 87.11%.The company had revenue of $19.62 million for the quarter, compared to analyst estimates of $28.67 million. BlackSky Technology updated its FY 2025 guidance to EPS.

BlackSky Technology Stock Up 1.3%

Shares of NYSE:BKSY traded up $0.22 on Friday, reaching $16.85. The company had a trading volume of 2,351,635 shares, compared to its average volume of 1,968,028. The stock has a market capitalization of $597.81 million, a P/E ratio of -5.37 and a beta of 2.24. The company has a quick ratio of 3.71, a current ratio of 3.71 and a debt-to-equity ratio of 1.35. The stock has a 50-day moving average price of $21.71 and a 200 day moving average price of $17.71. BlackSky Technology has a twelve month low of $6.15 and a twelve month high of $33.20.

Insider Activity at BlackSky Technology

In other news, CEO Brian E. O’toole sold 33,292 shares of BlackSky Technology stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $17.45, for a total value of $580,945.40. Following the transaction, the chief executive officer directly owned 750,164 shares in the company, valued at approximately $13,090,361.80. The trade was a 4.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Christiana L. Lin sold 24,036 shares of the company’s stock in a transaction that occurred 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 transaction, the chief accounting officer owned 402,652 shares of the company’s stock, valued at approximately $7,026,277.40. This trade represents a 5.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 89,694 shares of company stock worth $1,565,160. 3.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BKSY. Legal & General Group Plc grew its position in shares of BlackSky Technology by 40.5% during the 2nd quarter. Legal & General Group Plc now owns 3,118 shares of the company’s stock worth $64,000 after buying an additional 899 shares during the period. Quantbot Technologies LP acquired a new stake in BlackSky Technology during the 2nd quarter worth $126,000. The Manufacturers Life Insurance Company bought a new stake in shares of BlackSky Technology during the 2nd quarter valued at $212,000. AQR Capital Management LLC bought a new stake in shares of BlackSky Technology during the 1st quarter valued at $103,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of BlackSky Technology by 638.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 13,432 shares of the company’s stock valued at $276,000 after purchasing an additional 11,612 shares during the period. Institutional investors own 27.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BKSY. HC Wainwright lifted their price target on BlackSky Technology from $28.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of BlackSky Technology in a research report on Wednesday, October 8th. Lake Street Capital boosted their price target on shares of BlackSky Technology from $18.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Wall Street Zen downgraded shares of BlackSky Technology from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 9th. Finally, Canaccord Genuity Group decreased their price objective on BlackSky Technology from $28.00 to $27.00 and set a “buy” rating for the company in a research report on Tuesday, July 22nd. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.00.

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.