BlackSky Technology (NYSE:BKSY) Announces Earnings Results

BlackSky Technology (NYSE:BKSY) issued its quarterly earnings results on Thursday. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.07), FiscalAI reports. BlackSky Technology had a negative net margin of 82.04% and a negative return on equity of 52.27%. The firm had revenue of $19.62 million for the quarter, compared to analyst estimates of $28.67 million. BlackSky Technology updated its FY 2025 guidance to EPS.

BlackSky Technology Stock Performance

Shares of NYSE BKSY traded down $2.08 during trading hours on Thursday, reaching $16.70. 3,610,799 shares of the stock were exchanged, compared to its average volume of 1,891,694. The stock’s fifty day simple moving average is $21.72 and its 200 day simple moving average is $17.64. BlackSky Technology has a 52 week low of $6.15 and a 52 week high of $33.20. The company has a debt-to-equity ratio of 1.35, a quick ratio of 3.71 and a current ratio of 3.71. The firm has a market capitalization of $592.35 million, a price-to-earnings ratio of -4.97 and a beta of 2.24.

Insider Buying and Selling at BlackSky Technology

In related news, CEO Brian E. O’toole sold 33,292 shares of the firm’s stock in a transaction 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 $13,090,361.80. This trade represents a 4.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Christiana L. Lin sold 24,036 shares of the firm’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 in the company, valued at approximately $7,026,277.40. This trade represents a 5.63% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 89,694 shares of company stock valued at $1,565,160. 3.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BlackSky Technology

Large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its position in BlackSky Technology by 343.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 557,729 shares of the company’s stock valued at $4,311,000 after buying an additional 432,023 shares in the last quarter. Invesco Ltd. increased its holdings in BlackSky Technology by 94.9% during the 2nd quarter. Invesco Ltd. now owns 423,845 shares of the company’s stock worth $8,723,000 after purchasing an additional 206,371 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in 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 in the last quarter. Bank of America Corp DE grew its holdings 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 valued at $3,679,000 after acquiring an additional 118,650 shares in the last quarter. Finally, Sei Investments Co. bought a new position in shares of BlackSky Technology in the second quarter valued at approximately $427,000. Institutional investors and hedge funds own 27.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Wall Street Zen downgraded BlackSky Technology from a “hold” rating to a “strong sell” rating in a report on Saturday, August 9th. Lake Street Capital upped their price objective on BlackSky Technology from $18.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BlackSky Technology in a research report on Wednesday, October 8th. HC Wainwright increased 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. Finally, Canaccord Genuity Group reduced their price target on BlackSky Technology from $28.00 to $27.00 and set a “buy” rating for the company 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $29.00.

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.