BlackSky Technology (NYSE:BKSY) Shares Gap Up – Time to Buy?

BlackSky Technology Inc. (NYSE:BKSY)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $21.91, but opened at $23.29. BlackSky Technology shares last traded at $23.8390, with a volume of 236,533 shares changing hands.

Analyst Upgrades and Downgrades

BKSY has been the subject of several recent analyst reports. HC Wainwright reiterated a “buy” rating and set a $42.00 price objective on shares of BlackSky Technology in a research note on Friday, February 27th. Wall Street Zen upgraded shares of BlackSky Technology from a “strong sell” rating to a “hold” rating in a research note on Saturday, March 21st. Canaccord Genuity Group reduced their price target on BlackSky Technology from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Jefferies Financial Group started coverage on BlackSky Technology in a report on Monday, December 22nd. They set a “buy” rating and a $23.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of BlackSky Technology in a research report on Wednesday, January 21st. 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.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.40.

BlackSky Technology Stock Up 9.4%

The stock has a market capitalization of $1.02 billion, a PE ratio of -12.81 and a beta of 2.24. The company has a current ratio of 3.48, a quick ratio of 3.37 and a debt-to-equity ratio of 2.04. The company’s 50-day moving average is $23.51 and its 200 day moving average is $21.93.

BlackSky Technology (NYSE:BKSY) last released its earnings results on Thursday, February 26th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.06. BlackSky Technology had a negative net margin of 65.93% and a negative return on equity of 53.94%. The company had revenue of $35.21 million for the quarter, compared to the consensus estimate of $37.13 million. As a group, analysts anticipate that BlackSky Technology Inc. will post -2.28 EPS for the current year.

Hedge Funds Weigh In On BlackSky Technology

A number of large investors have recently bought and sold shares of the business. Quarry LP acquired a new stake in BlackSky Technology in the fourth quarter valued at approximately $26,000. Strive Financial Group LLC purchased a new position in shares of BlackSky Technology during the 4th quarter valued at approximately $26,000. Global Retirement Partners LLC purchased a new position in shares of BlackSky Technology during the 4th quarter valued at approximately $28,000. Wexford Capital LP acquired a new stake in BlackSky Technology in the 3rd quarter valued at $30,000. Finally, IFP Advisors Inc grew its stake in BlackSky Technology by 57.9% in the 3rd quarter. IFP Advisors Inc now owns 2,253 shares of the company’s stock valued at $45,000 after acquiring an additional 826 shares during the period. Institutional investors and hedge funds own 27.15% of the company’s stock.

BlackSky Technology Company Profile

BlackSky Technology, Inc operates Earth observation and geospatial intelligence services through a constellation of small satellites and an analytics platform. The company collects and processes high-revisit satellite imagery, enabling near-real-time monitoring of global events and locations. Clients across government, defense and commercial sectors leverage BlackSky’s imagery and data to support decision-making in areas such as supply chain monitoring, humanitarian aid, infrastructure management and security operations.

Founded in 2014 as part of Spaceflight Industries, BlackSky has grown its satellite constellation and analytics capabilities to deliver satellite imagery with high revisit rates and rapid tasking.