BlackSky Technology Inc. (NYSE:BKSY) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Shares of BlackSky Technology Inc. (NYSE:BKSY) have been given a consensus recommendation of “Moderate Buy” by the five research firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $39.33.

Several brokerages have recently commented on BKSY. Clear Str raised shares of BlackSky Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Wall Street Zen raised shares of BlackSky Technology from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of BlackSky Technology in a research report on Thursday, October 15th.

BlackSky Technology Stock Down 6.5%

BKSY opened at $17.96 on Friday. BlackSky Technology has a 12 month low of $12.41 and a 12 month high of $52.88. The company has a current ratio of 5.83, a quick ratio of 5.72 and a debt-to-equity ratio of 0.94. The business’s 50-day moving average price is $21.13 and its 200-day moving average price is $27.19. The company has a market cap of $734.92 million, a P/E ratio of -9.87 and a beta of 2.70.

BlackSky Technology (NYSE:BKSY) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.16). BlackSky Technology had a negative return on equity of 51.24% and a negative net margin of 61.24%. The company had revenue of $33.32 million for the quarter, compared to the consensus estimate of $30.72 million. On average, equities analysts expect that BlackSky Technology will post -1.09 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Christiana L. Lin sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $16.86, for a total value of $101,160.00. Following the sale, the chief accounting officer owned 415,680 shares in the company, valued at $7,008,364.80. This represents a 1.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian E. O’toole sold 20,000 shares of BlackSky Technology stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $16.86, for a total value of $337,200.00. Following the transaction, the chief executive officer owned 1,023,396 shares of the company’s stock, valued at $17,254,456.56. The trade was a 1.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 168,557 shares of company stock worth $3,497,029. 5.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BlackSky Technology

Several large investors have recently modified their holdings of the stock. Sterling Capital Management LLC lifted its stake in shares of BlackSky Technology by 935.6% in the third quarter. Sterling Capital Management LLC now owns 1,222 shares of the company’s stock worth $26,000 after buying an additional 1,104 shares in the last quarter. Fifth Third Bancorp purchased a new position in shares of BlackSky Technology in the first quarter worth $48,000. State of Alaska Department of Revenue bought a new stake in BlackSky Technology in the 3rd quarter worth about $41,000. Integrated Wealth Concepts LLC bought a new stake in BlackSky Technology in the 2nd quarter worth about $216,000. Finally, Arizona State Retirement System purchased a new position in BlackSky Technology in the 2nd quarter worth about $236,000. Hedge funds and other institutional investors own 27.15% of the company’s stock.

About BlackSky Technology

BlackSky Technology Inc is a space-based intelligence and geospatial analytics company that provides high-frequency monitoring of activity and changes on Earth. The company combines satellite imagery, artificial intelligence and machine learning, and other data sources to help customers identify and analyze events and locations of interest.

BlackSky operates a constellation of Earth-observation satellites and delivers imagery, alerts, and analytical products through its Spectra platform.