BlackSky Technology (NYSE:BKSY) Trading Up 18.1% – Time to Buy?

BlackSky Technology Inc. (NYSE:BKSY)’s stock price rose 18.1% during trading on Monday . The stock traded as high as $21.74 and last traded at $22.2710. Approximately 550,424 shares changed hands during trading, a decline of 63% from the average daily volume of 1,481,841 shares. The stock had previously closed at $18.85.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Jefferies Financial Group started coverage on BlackSky Technology in a research report on Monday, December 22nd. They set a “buy” rating and a $23.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of BlackSky Technology in a research report on Wednesday, January 21st. HC Wainwright restated a “buy” rating and set a $42.00 price objective on shares of BlackSky Technology in a research note on Friday. Finally, Canaccord Genuity Group dropped their price objective on shares of BlackSky Technology from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Friday. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $27.40.

BlackSky Technology Trading Up 12.9%

The company has a quick ratio of 3.89, a current ratio of 3.89 and a debt-to-equity ratio of 2.08. The company’s 50-day moving average is $22.88 and its 200 day moving average is $20.73. The company has a market cap of $765.69 million, a price-to-earnings ratio of -9.90 and a beta of 2.44.

BlackSky Technology (NYSE:BKSY) last posted its earnings results on Thursday, February 26th. The company reported ($0.19) earnings per share (EPS) 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 54.86%. The business had revenue of $35.21 million for the quarter, compared to analyst estimates of $37.13 million. Research analysts predict that BlackSky Technology Inc. will post -2.28 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC raised its holdings in BlackSky Technology by 7.3% in the 2nd quarter. Geode Capital Management LLC now owns 612,919 shares of the company’s stock valued at $12,616,000 after acquiring an additional 41,922 shares during the last quarter. Prescott Group Capital Management L.L.C. acquired a new stake in shares of BlackSky Technology in the second quarter valued at approximately $1,049,000. Jump Financial LLC lifted its position in BlackSky Technology by 128.2% during the second quarter. Jump Financial LLC now owns 480,048 shares of the company’s stock worth $9,879,000 after buying an additional 269,700 shares in the last quarter. Principal Financial Group Inc. purchased a new position in BlackSky Technology during the third quarter worth approximately $1,310,000. Finally, LBP AM SA boosted its stake in BlackSky Technology by 220.8% during the third quarter. LBP AM SA now owns 362,174 shares of the company’s stock worth $7,298,000 after buying an additional 249,269 shares during the last quarter. Hedge funds and other institutional investors 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.