BlackSky Technology (NYSE:BKSY) Shares Gap Up – Here’s Why

BlackSky Technology Inc. (NYSE:BKSY) shares gapped up before the market opened 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 trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of BlackSky Technology in a research report on Wednesday, October 8th. HC Wainwright lifted their price target on BlackSky Technology from $28.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Wall Street Zen lowered BlackSky Technology from a “hold” rating to a “strong sell” rating in a report on Saturday, August 9th. Finally, Lake Street Capital lifted their target price on BlackSky Technology from $18.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $29.00.

BlackSky Technology Stock Up 7.5%

The business’s 50 day simple moving average is $21.41 and its 200 day simple moving average is $18.14. The company has a market capitalization of $560.36 million, a PE ratio of -4.94 and a beta of 2.24. The company has a quick ratio of 3.89, a current ratio of 3.89 and a debt-to-equity ratio of 2.08.

BlackSky Technology (NYSE:BKSY) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.02. BlackSky Technology had a negative net margin of 87.11% and a negative return on equity of 54.48%. The business had revenue of $19.62 million during the quarter, compared to the consensus estimate of $28.67 million. BlackSky Technology has set its FY 2025 guidance at EPS. As a group, analysts forecast that BlackSky Technology Inc. will post -2.28 EPS for the current year.

Insider Activity

In other news, CFO Henry Edward Dubois sold 31,646 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $17.45, for a total value of $552,222.70. Following the completion of the sale, the chief financial officer directly owned 474,582 shares of the company’s stock, valued at $8,281,455.90. This represents a 6.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian E. O’toole sold 33,292 shares of the firm’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 transaction of $580,945.40. Following the sale, the chief executive officer owned 750,164 shares of the company’s stock, valued at approximately $13,090,361.80. This represents a 4.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 89,694 shares of company stock worth $1,565,160. 3.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Wexford Capital LP purchased a new stake in shares of BlackSky Technology during the third quarter worth $30,000. IFP Advisors Inc increased its position in BlackSky Technology by 35,575.0% in the 2nd quarter. IFP Advisors Inc now owns 1,427 shares of the company’s stock worth $32,000 after purchasing an additional 1,423 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of BlackSky Technology by 6,937.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,689 shares of the company’s stock valued at $35,000 after buying an additional 1,665 shares during the last quarter. Jones Financial Companies Lllp bought a new stake in shares of BlackSky Technology in the 3rd quarter valued at approximately $50,000. Finally, Russell Investments Group Ltd. acquired a new position in BlackSky Technology in the third quarter worth approximately $53,000. Institutional investors and hedge funds own 27.15% of the company’s stock.

About BlackSky Technology

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.