BlackSky Technology (NYSE:BKSY) Shares Up 6.4% – Still a Buy?

BlackSky Technology Inc. (NYSE:BKSY) shares rose 6.4% on Tuesday . The stock traded as high as $32.82 and last traded at $32.9190. Approximately 1,239,906 shares were traded during trading, a decline of 22% from the average daily volume of 1,580,924 shares. The stock had previously closed at $30.93.

Analyst Ratings Changes

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

BlackSky Technology Price Performance

The company has a debt-to-equity ratio of 2.04, a current ratio of 3.48 and a quick ratio of 3.37. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of -15.57 and a beta of 2.25. The business’s fifty day simple moving average is $23.79 and its 200 day simple moving average is $22.20.

BlackSky Technology (NYSE:BKSY) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.06. The firm had revenue of $35.21 million during the quarter, compared to analysts’ expectations of $37.13 million. BlackSky Technology had a negative net margin of 65.93% and a negative return on equity of 53.94%. On average, research analysts forecast that BlackSky Technology Inc. will post -2.28 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Quarry LP acquired a new position in shares of BlackSky Technology during the fourth quarter valued at about $26,000. Strive Financial Group LLC acquired a new position in shares of BlackSky Technology during the fourth quarter valued at about $26,000. Wexford Capital LP acquired a new position in shares of BlackSky Technology during the third quarter valued at about $30,000. Global Retirement Partners LLC acquired a new position in shares of BlackSky Technology during the fourth quarter valued at about $28,000. Finally, IFP Advisors Inc grew its holdings in shares of BlackSky Technology by 57.9% during the third quarter. IFP Advisors Inc now owns 2,253 shares of the company’s stock valued at $45,000 after buying an additional 826 shares during the last quarter. 27.15% of the stock is currently owned by institutional investors and hedge funds.

About BlackSky Technology

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.