BlackSky Technology (NYSE:BKSY) Stock Price Expected to Rise, HC Wainwright Analyst Says

BlackSky Technology (NYSE:BKSY) had its target price increased by investment analysts at HC Wainwright from $28.00 to $42.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target would indicate a potential upside of 57.19% from the company’s current price.

A number of other research firms have also commented on BKSY. Wall Street Zen lowered BlackSky Technology from a “hold” rating to a “strong sell” rating in a report on Saturday, August 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BlackSky Technology in a report on Wednesday. Lake Street Capital lifted their price objective on BlackSky Technology from $18.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Finally, Canaccord Genuity Group dropped their price objective on BlackSky Technology from $28.00 to $27.00 and set a “buy” rating for the company in a research note on Tuesday, July 22nd. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $29.00.

BlackSky Technology Price Performance

BlackSky Technology stock opened at $26.72 on Friday. BlackSky Technology has a one year low of $5.85 and a one year high of $31.79. The business has a fifty day moving average price of $19.64 and a 200-day moving average price of $15.56. The company has a debt-to-equity ratio of 1.35, a current ratio of 3.71 and a quick ratio of 3.71. The firm has a market capitalization of $947.76 million, a P/E ratio of -7.95 and a beta of 2.22.

BlackSky Technology (NYSE:BKSY) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.03). BlackSky Technology had a negative return on equity of 52.27% and a negative net margin of 82.04%.The company had revenue of $22.20 million during the quarter, compared to the consensus estimate of $22.17 million. BlackSky Technology has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that BlackSky Technology will post -2.28 EPS for the current year.

Insider Activity at BlackSky Technology

In other BlackSky Technology 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 transaction of $580,945.40. Following the completion of the sale, the chief executive officer owned 750,164 shares of the company’s stock, valued at $13,090,361.80. The trade was a 4.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Christiana L. Lin sold 24,036 shares of the company’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $17.45, for a total value of $419,428.20. Following the completion of the transaction, the chief accounting officer owned 402,652 shares of the company’s stock, valued at $7,026,277.40. The trade was a 5.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,694 shares of company stock valued at $1,565,160. Company insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On BlackSky Technology

Several institutional investors have recently modified their holdings of the company. Nuveen LLC bought a new position in shares of BlackSky Technology during the 1st quarter valued at about $9,582,000. Geode Capital Management LLC increased its position in shares of BlackSky Technology by 7.3% during the 2nd quarter. Geode Capital Management LLC now owns 612,919 shares of the company’s stock valued at $12,616,000 after purchasing an additional 41,922 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of BlackSky Technology by 343.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 557,729 shares of the company’s stock valued at $4,311,000 after purchasing an additional 432,023 shares during the last quarter. Jump Financial LLC increased its position in shares of BlackSky Technology by 128.2% during the 2nd quarter. Jump Financial LLC now owns 480,048 shares of the company’s stock valued at $9,879,000 after purchasing an additional 269,700 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of BlackSky Technology by 94.9% during the 2nd quarter. Invesco Ltd. now owns 423,845 shares of the company’s stock valued at $8,723,000 after purchasing an additional 206,371 shares during the last quarter. 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.