BlackSky Technology (NYSE:BKSY) Shares Gap Up – Here’s Why

BlackSky Technology Inc. (NYSE:BKSY)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $38.75, but opened at $41.00. BlackSky Technology shares last traded at $40.4030, with a volume of 530,960 shares.

Analyst Ratings Changes

BKSY has been the subject of a number of research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $42.00 price objective on shares of BlackSky Technology in a research report on Friday, February 27th. Canaccord Genuity Group lowered 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 report on Friday, February 27th. Wall Street Zen cut shares of BlackSky Technology from a “hold” rating to a “strong sell” rating in a research report on Saturday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BlackSky Technology in a research report on Monday, April 20th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, BlackSky Technology has an average rating of “Moderate Buy” and a consensus price target of $29.75.

BlackSky Technology Stock Performance

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

BlackSky Technology (NYSE:BKSY) last released its earnings results on Thursday, May 7th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.45). The business had revenue of $20.77 million for the quarter, compared to analyst estimates of $27.60 million. BlackSky Technology had a negative return on equity of 74.25% and a negative net margin of 89.07%. Analysts predict that BlackSky Technology Inc. will post -1.32 EPS for the current year.

Institutional Investors Weigh In On BlackSky Technology

Hedge funds have recently added to or reduced their stakes in the business. Quarry LP acquired a new stake in shares of BlackSky Technology in the 4th quarter valued at $26,000. Strive Financial Group LLC acquired a new stake in shares of BlackSky Technology in the 4th quarter valued at $26,000. Global Retirement Partners LLC acquired a new stake in shares of BlackSky Technology in the 4th quarter valued at $28,000. Wexford Capital LP acquired a new stake in shares of BlackSky Technology in the 3rd quarter valued at $30,000. Finally, IFP Advisors Inc raised its holdings in shares of 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 purchasing an additional 826 shares in the last quarter. 27.15% of the stock is currently owned by institutional investors and hedge funds.

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.