BlackSky Technology (NYSE:BKSY) Reaches New 1-Year High – Time to Buy?

BlackSky Technology Inc. (NYSE:BKSY) hit a new 52-week high on Wednesday . The company traded as high as $45.50 and last traded at $45.15, with a volume of 2644877 shares changing hands. The stock had previously closed at $43.00.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Wall Street Zen downgraded shares of BlackSky Technology from a “hold” rating to a “strong sell” rating in a report on Saturday. HC Wainwright reaffirmed a “buy” rating and set a $42.00 price objective on shares of BlackSky Technology in a research note on Friday, February 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BlackSky Technology in a research note on Monday, April 20th. Finally, Canaccord Genuity Group reduced their price objective on shares of BlackSky Technology from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.75.

BlackSky Technology Stock Up 5.0%

The company has a quick ratio of 3.34, a current ratio of 3.46 and a debt-to-equity ratio of 2.39. The company has a market capitalization of $1.68 billion, a PE ratio of -17.71 and a beta of 2.44. The business’s 50 day simple moving average is $32.37 and its 200 day simple moving average is $24.76.

BlackSky Technology (NYSE:BKSY) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.82) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.45). BlackSky Technology had a negative net margin of 89.07% and a negative return on equity of 74.25%. The firm had revenue of $20.77 million for the quarter, compared to analysts’ expectations of $27.60 million. As a group, analysts forecast that BlackSky Technology Inc. will post -1.32 EPS for the current year.

Institutional Trading of BlackSky Technology

A number of hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its position in shares of BlackSky Technology by 392.8% in the fourth quarter. Bank of New York Mellon Corp now owns 2,072,543 shares of the company’s stock worth $38,860,000 after purchasing an additional 1,652,014 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of BlackSky Technology by 7.8% in the third quarter. Vanguard Group Inc. now owns 1,697,683 shares of the company’s stock worth $34,208,000 after purchasing an additional 123,171 shares in the last quarter. State Street Corp lifted its position in shares of BlackSky Technology by 63.3% in the fourth quarter. State Street Corp now owns 996,019 shares of the company’s stock worth $18,675,000 after purchasing an additional 386,207 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of BlackSky Technology in the fourth quarter worth approximately $16,395,000. Finally, Geode Capital Management LLC lifted its position in shares of BlackSky Technology by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 718,490 shares of the company’s stock worth $13,474,000 after purchasing an additional 22,695 shares in the last quarter. 27.15% of the stock is owned by hedge funds and other institutional investors.

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.