HC Wainwright Has Positive Outlook for BKSY FY2024 Earnings

BlackSky Technology Inc. (NYSE:BKSY) – HC Wainwright increased their FY2024 earnings per share estimates for shares of BlackSky Technology in a note issued to investors on Wednesday, October 16th. HC Wainwright analyst S. Buck now anticipates that the company will earn ($2.35) per share for the year, up from their prior estimate of ($2.72). HC Wainwright has a “Buy” rating and a $12.00 price target on the stock. The consensus estimate for BlackSky Technology’s current full-year earnings is ($2.52) per share. HC Wainwright also issued estimates for BlackSky Technology’s Q4 2024 earnings at ($0.31) EPS and FY2025 earnings at ($1.35) EPS.

BlackSky Technology (NYSE:BKSY) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.48) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.24. The business had revenue of $24.94 million for the quarter, compared to analyst estimates 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 quarter last year, the company earned ($1.92) earnings per share.

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

BlackSky Technology Price Performance

NYSE:BKSY opened at $6.07 on Friday. The firm has a market cap of $112.96 million, a price-to-earnings ratio of -3.79 and a beta of 0.97. BlackSky Technology has a 12-month low of $3.86 and a 12-month high of $14.16. The company has a current ratio of 4.19, a quick ratio of 4.19 and a debt-to-equity ratio of 1.41. The company’s 50-day moving average is $7.00 and its two-hundred day moving average is $8.36.

Insider Activity

In related news, CFO Henry Edward Dubois sold 23,590 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $7.19, for a total transaction of $169,612.10. Following the completion of the sale, the chief financial officer now owns 231,645 shares of the company’s stock, valued at approximately $1,665,527.55. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other BlackSky Technology news, CAO Christiana L. Lin sold 13,031 shares of the business’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 $93,692.89. Following the transaction, the chief accounting officer now owns 190,775 shares in the company, valued at $1,371,672.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Henry Edward Dubois sold 23,590 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $7.19, for a total value of $169,612.10. Following the completion of the sale, the chief financial officer now directly 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 have sold 62,362 shares of company stock valued at $446,535 in the last three months. Corporate insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On BlackSky Technology

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of BlackSky Technology by 17.8% during the first quarter. Vanguard Group Inc. now owns 5,291,909 shares of the company’s stock valued at $7,197,000 after purchasing an additional 800,287 shares during the period. Virtu Financial LLC boosted its stake in shares of BlackSky Technology by 134.5% in the first quarter. Virtu Financial LLC now owns 145,514 shares of the company’s stock valued at $198,000 after purchasing an additional 83,462 shares during the period. GSA Capital Partners LLP grew its holdings in BlackSky Technology by 123.8% during the 1st quarter. GSA Capital Partners LLP now owns 315,900 shares of the company’s stock valued at $430,000 after purchasing an additional 174,773 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in BlackSky Technology during the 2nd quarter worth $295,000. Finally, LA Financiere DE L Echiquier lifted its holdings in BlackSky Technology by 13.6% in the 2nd quarter. LA Financiere DE L Echiquier now owns 933,000 shares of the company’s stock worth $998,000 after buying an additional 112,000 shares in the last quarter. 27.15% of the stock is owned by institutional investors and hedge funds.

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.