BlackSky Technology (NYSE:BKSY) Trading Down 7.6% Following Insider Selling

BlackSky Technology Inc. (NYSE:BKSY)’s share price traded down 7.6% on Tuesday after an insider sold shares in the company. The stock traded as low as $18.34 and last traded at $18.19. 285,060 shares were traded during trading, a decline of 82% from the average session volume of 1,602,336 shares. The stock had previously closed at $19.70.

Specifically, CAO Christiana L. Lin sold 24,036 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 $419,428.20. Following the sale, the chief accounting officer directly owned 402,652 shares of the company’s stock, valued at approximately $7,026,277.40. The trade was a 5.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Henry Edward Dubois sold 31,646 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 transaction of $552,222.70. Following the completion of the sale, the chief financial officer directly owned 474,582 shares in the company, valued at $8,281,455.90. This represents a 6.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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 sale, the chief executive officer directly owned 750,164 shares of the company’s stock, valued at approximately $13,090,361.80. The trade was a 4.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Canaccord Genuity Group cut their price objective on shares of BlackSky Technology from $28.00 to $27.00 and set a “buy” rating on the stock in a research report on Tuesday, July 22nd. Lake Street Capital boosted their price objective on shares of BlackSky Technology from $18.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Wall Street Zen cut shares of BlackSky Technology from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 9th. Finally, HC Wainwright lifted their price target on shares of BlackSky Technology from $20.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, July 21st. Six analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $23.50.

BlackSky Technology Stock Down 5.5%

The company has a current ratio of 3.71, a quick ratio of 3.71 and a debt-to-equity ratio of 1.35. The firm’s 50 day simple moving average is $19.11 and its 200-day simple moving average is $13.87. The stock has a market capitalization of $660.45 million, a price-to-earnings ratio of -5.54 and a beta of 2.15.

BlackSky Technology (NYSE:BKSY) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($0.03). The firm had revenue of $22.20 million for the quarter, compared to analyst estimates of $22.17 million. BlackSky Technology had a negative return on equity of 52.27% and a negative net margin of 82.04%. BlackSky Technology has set its FY 2025 guidance at EPS. Equities analysts expect that BlackSky Technology Inc. will post -2.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Osaic Holdings Inc. increased its stake in shares of BlackSky Technology by 9.1% during the 2nd quarter. Osaic Holdings Inc. now owns 17,443 shares of the company’s stock worth $359,000 after purchasing an additional 1,451 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of BlackSky Technology by 638.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 13,432 shares of the company’s stock worth $276,000 after purchasing an additional 11,612 shares during the last quarter. Great Valley Advisor Group Inc. increased its stake in shares of BlackSky Technology by 22.5% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 13,600 shares of the company’s stock worth $280,000 after purchasing an additional 2,500 shares during the last quarter. Bank of America Corp DE increased its stake in shares of BlackSky Technology by 197.4% during the 2nd quarter. Bank of America Corp DE now owns 178,743 shares of the company’s stock worth $3,679,000 after purchasing an additional 118,650 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of BlackSky Technology by 1,095.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 181,438 shares of the company’s stock worth $3,734,000 after purchasing an additional 166,264 shares during the last quarter. 27.15% of the stock is currently 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.