BlackSky Technology (NYSE:BKSY) Shares Gap Up – Should You Buy?

BlackSky Technology Inc. (NYSE:BKSY) shares gapped up prior to trading on Thursday . The stock had previously closed at $14.49, but opened at $15.46. BlackSky Technology shares last traded at $15.6630, with a volume of 1,859,314 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on BKSY shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of BlackSky Technology in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of BlackSky Technology from a “hold” rating to a “strong sell” rating in a report on Saturday, August 9th. Finally, HC Wainwright raised their price objective on BlackSky Technology from $28.00 to $42.00 and gave the company a “buy” rating in a report on Friday, October 10th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, BlackSky Technology currently has an average rating of “Moderate Buy” and a consensus target price of $29.00.

BlackSky Technology Price Performance

The stock has a market capitalization of $551.41 million, a price-to-earnings ratio of -4.88 and a beta of 2.24. The company has a fifty day simple moving average of $21.28 and a 200 day simple moving average of $18.16. 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 issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.02. The company had revenue of $19.62 million during the quarter, compared to analysts’ expectations of $28.67 million. BlackSky Technology had a negative return on equity of 54.48% and a negative net margin of 87.11%. BlackSky Technology has set its FY 2025 guidance at EPS. Equities research analysts forecast that BlackSky Technology Inc. will post -2.28 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Brian E. O’toole sold 33,292 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 $580,945.40. Following the transaction, the chief executive officer owned 750,164 shares in the company, valued at $13,090,361.80. The trade was a 4.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Henry Edward Dubois sold 31,646 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 $552,222.70. Following the completion of the transaction, the chief financial officer directly owned 474,582 shares of the company’s stock, valued at approximately $8,281,455.90. This trade represents a 6.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 89,694 shares of company stock worth $1,565,160. 3.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BlackSky Technology

Hedge funds have recently added to or reduced their stakes in the business. Griffin Asset Management Inc. boosted its holdings in shares of BlackSky Technology by 1.6% during the 3rd quarter. Griffin Asset Management Inc. now owns 48,856 shares of the company’s stock worth $984,000 after buying an additional 746 shares in the last quarter. Legal & General Group Plc lifted 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 valued at $64,000 after acquiring an additional 899 shares during the period. Concurrent Investment Advisors LLC boosted its stake in BlackSky Technology by 5.6% during the third quarter. Concurrent Investment Advisors LLC now owns 19,042 shares of the company’s stock worth $384,000 after acquiring an additional 1,010 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in BlackSky Technology by 7.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,174 shares of the company’s stock worth $117,000 after purchasing an additional 1,015 shares during the period. Finally, IFP Advisors Inc grew its stake in shares of BlackSky Technology by 35,575.0% in the 2nd quarter. IFP Advisors Inc now owns 1,427 shares of the company’s stock valued at $32,000 after buying an additional 1,423 shares during the period. 27.15% of the stock is currently owned by institutional investors.

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.