BlackSky Technology (NYSE:BKSY) Shares Up 6.6% – Time to Buy?

BlackSky Technology Inc. (NYSE:BKSY)’s share price shot up 6.6% during mid-day trading on Friday . The stock traded as high as $22.65 and last traded at $22.87. Approximately 545,962 shares were traded during trading, a decline of 71% from the average daily volume of 1,886,412 shares. The stock had previously closed at $21.46.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of BlackSky Technology in a research report on Monday, April 20th. Jefferies Financial Group upgraded shares of BlackSky Technology to a “hold” rating in a research report on Wednesday, June 10th. Finally, Wall Street Zen lowered shares of BlackSky Technology from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 16th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, BlackSky Technology has a consensus rating of “Hold” and a consensus target price of $36.50.

BlackSky Technology Price Performance

The company has a 50-day moving average of $34.19 and a two-hundred day moving average of $29.31. The stock has a market capitalization of $826.38 million, a PE ratio of -8.73 and a beta of 2.59. The company has a debt-to-equity ratio of 2.39, a current ratio of 3.46 and a quick ratio of 3.34.

BlackSky Technology (NYSE:BKSY) last issued its quarterly 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 during 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%. Sell-side analysts predict that BlackSky Technology Inc. will post -1.32 EPS for the current fiscal year.

Institutional Investors Weigh In On BlackSky Technology

Several hedge funds have recently modified their holdings of BKSY. Quarry LP acquired a new position in BlackSky Technology during the fourth quarter worth approximately $26,000. Strive Financial Group LLC acquired a new position in shares of BlackSky Technology in the 4th quarter valued at $26,000. Wexford Capital LP acquired a new position in shares of BlackSky Technology in the 3rd quarter valued at $30,000. Global Retirement Partners LLC purchased a new stake in shares of BlackSky Technology during the 4th quarter valued at $28,000. Finally, Fifth Third Bancorp purchased a new stake in shares of BlackSky Technology during the 1st quarter valued at $48,000. 27.15% of the stock is 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.