BlackSky Technology (NYSE:BKSY) Stock Price Down 4.5% – Should You Sell?

Shares of BlackSky Technology Inc. (NYSE:BKSY) were down 4.5% on Wednesday . The stock traded as low as $26.41 and last traded at $26.1520. Approximately 387,447 shares traded hands during trading, a decline of 75% from the average daily volume of 1,546,650 shares. The stock had previously closed at $27.37.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on BKSY shares. HC Wainwright increased their price target on shares of BlackSky Technology from $28.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BlackSky Technology in a report on Wednesday, October 8th. Finally, Jefferies Financial Group initiated coverage on BlackSky Technology in a report on Monday, December 22nd. They issued a “buy” rating and a $23.00 price target for the company. Six investment 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 company presently has an average rating of “Moderate Buy” and a consensus target price of $28.00.

BlackSky Technology Trading Down 9.2%

The firm has a market cap of $894.71 million, a P/E ratio of -8.01 and a beta of 2.42. The company has a debt-to-equity ratio of 2.08, a quick ratio of 3.89 and a current ratio of 3.89. The firm has a fifty day moving average of $19.72 and a 200-day moving average of $20.40.

BlackSky Technology (NYSE:BKSY) last issued its earnings results on Thursday, November 6th. The company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.02. BlackSky Technology had a negative return on equity of 54.48% and a negative net margin of 87.11%.The firm had revenue of $19.62 million for the quarter, compared to analyst estimates of $28.67 million. Equities research analysts forecast that BlackSky Technology Inc. will post -2.28 earnings per share for the current year.

Institutional Investors Weigh In On BlackSky Technology

Hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC bought a new position in BlackSky Technology in the 1st quarter worth approximately $103,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in BlackSky Technology by 7.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,174 shares of the company’s stock worth $117,000 after acquiring an additional 1,015 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of BlackSky Technology by 343.7% in the first quarter. Goldman Sachs Group Inc. now owns 557,729 shares of the company’s stock worth $4,311,000 after purchasing an additional 432,023 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of BlackSky Technology by 12.2% during the first quarter. Rhumbline Advisers now owns 35,295 shares of the company’s stock valued at $273,000 after purchasing an additional 3,849 shares during the period. Finally, LBP AM SA increased its holdings in shares of BlackSky Technology by 198.1% during the second quarter. LBP AM SA now owns 112,905 shares of the company’s stock valued at $2,324,000 after purchasing an additional 75,024 shares during the period. Institutional investors own 27.15% of the company’s stock.

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.