Weiss Ratings Reaffirms “Sell (D-)” Rating for BlackSky Technology (NYSE:BKSY)

BlackSky Technology (NYSE:BKSY)‘s stock had its “sell (d-)” rating restated by equities research analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Several other brokerages have also recently issued reports on BKSY. Lake Street Capital lifted their price target on 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 BlackSky Technology from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 9th. HC Wainwright lifted their price target on BlackSky Technology from $20.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, July 21st. Finally, Canaccord Genuity Group lowered their price target on BlackSky Technology from $28.00 to $27.00 and set a “buy” rating on the stock in a research report on Tuesday, July 22nd. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $26.20.

BlackSky Technology Stock Down 0.3%

BKSY opened at $29.98 on Wednesday. BlackSky Technology has a 12 month low of $5.85 and a 12 month high of $31.79. The stock has a market cap of $1.06 billion, a P/E ratio of -8.92 and a beta of 2.22. The stock’s 50 day moving average price is $19.48 and its 200 day moving average price is $15.40. The company has a debt-to-equity ratio of 1.35, a current ratio of 3.71 and a quick ratio of 3.71.

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

Insider Buying and Selling

In related news, CAO Christiana L. Lin sold 24,036 shares of BlackSky Technology stock in a transaction 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 directly owned 402,652 shares in the company, valued at $7,026,277.40. The trade was a 5.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Henry Edward Dubois sold 31,646 shares of BlackSky Technology stock in a transaction on 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 owned 474,582 shares in the company, valued at $8,281,455.90. The trade was a 6.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,694 shares of company stock worth $1,565,160 in the last three months. 3.80% of the stock is currently owned by insiders.

Institutional Trading of BlackSky Technology

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

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.