BlackSky Technology (NYSE:BKSY) Price Target Lowered to $12.00 at HC Wainwright

BlackSky Technology (NYSE:BKSY) had its price objective decreased by HC Wainwright from $15.00 to $12.00 in a research report sent to investors on Wednesday morning, Benzinga reports. HC Wainwright currently has a buy rating on the stock. HC Wainwright also issued estimates for BlackSky Technology’s Q4 2024 earnings at ($0.31) EPS, FY2024 earnings at ($2.35) EPS and FY2025 earnings at ($1.35) EPS.

BKSY has been the subject of a number of other reports. Lake Street Capital increased their price target on BlackSky Technology from $4.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Oppenheimer assumed coverage on BlackSky Technology in a report on Wednesday, October 2nd. They set an “outperform” rating and a $10.00 price target for the company. Finally, Craig Hallum upgraded BlackSky Technology from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a report on Friday, October 4th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, BlackSky Technology currently has an average rating of “Buy” and a consensus price target of $17.60.

BlackSky Technology Stock Up 0.8 %

Shares of BKSY opened at $6.12 on Wednesday. BlackSky Technology has a 52-week low of $3.86 and a 52-week high of $14.16. The company has a market capitalization of $898.60 million, a PE ratio of -16.11 and a beta of 0.97. The stock has a fifty day simple moving average of $6.95 and a two-hundred day simple moving average of $8.33. The company has a quick ratio of 4.19, a current ratio of 4.19 and a debt-to-equity ratio of 1.41.

BlackSky Technology (NYSE:BKSY) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.48) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.24. The business had revenue of $24.94 million during the quarter, compared to analysts’ expectations of $25.14 million. BlackSky Technology had a negative return on equity of 56.91% and a negative net margin of 26.78%. During the same period in the prior year, the business posted ($1.92) EPS. As a group, equities analysts forecast that BlackSky Technology will post -2.52 EPS for the current year.

Insider Activity at BlackSky Technology

In related news, CFO Henry Edward Dubois sold 23,590 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $7.19, for a total transaction of $169,612.10. Following the completion of the transaction, the chief financial officer now directly owns 231,645 shares in the company, valued at $1,665,527.55. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CAO Christiana L. Lin sold 13,031 shares of BlackSky Technology stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $7.19, for a total value of $93,692.89. Following the completion of the transaction, the chief accounting officer now owns 190,775 shares in the company, valued at approximately $1,371,672.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Henry Edward Dubois sold 23,590 shares of BlackSky Technology stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $7.19, for a total value of $169,612.10. Following the completion of the transaction, the chief financial officer now owns 231,645 shares of the company’s stock, valued at $1,665,527.55. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,362 shares of company stock worth $446,535 in the last three months. 3.16% of the stock is owned by company insiders.

Hedge Funds Weigh In On BlackSky Technology

Several hedge funds and other institutional investors have recently made changes to their positions in BKSY. Vanguard Group Inc. boosted its stake in shares of BlackSky Technology by 17.8% in the 1st quarter. Vanguard Group Inc. now owns 5,291,909 shares of the company’s stock valued at $7,197,000 after buying an additional 800,287 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of BlackSky Technology during the 2nd quarter worth about $295,000. GSA Capital Partners LLP raised its position in shares of BlackSky Technology by 123.8% during the 1st quarter. GSA Capital Partners LLP now owns 315,900 shares of the company’s stock worth $430,000 after acquiring an additional 174,773 shares in the last quarter. LA Financiere DE L Echiquier raised its position in shares of BlackSky Technology by 13.6% during the 2nd quarter. LA Financiere DE L Echiquier now owns 933,000 shares of the company’s stock worth $998,000 after acquiring an additional 112,000 shares in the last quarter. Finally, Virtu Financial LLC raised its position in shares of BlackSky Technology by 134.5% during the 1st quarter. Virtu Financial LLC now owns 145,514 shares of the company’s stock worth $198,000 after acquiring an additional 83,462 shares in the last quarter. Hedge funds and other institutional investors 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.