BlackSky Technology (NYSE:BKSY) Trading Up 6.4% – What’s Next?

BlackSky Technology Inc. (NYSE:BKSY)’s stock price was up 6.4% on Tuesday . The company traded as high as $32.82 and last traded at $32.9190. Approximately 1,239,906 shares changed hands during mid-day trading, a decline of 22% from the average daily volume of 1,580,924 shares. The stock had previously closed at $30.93.

Analysts Set New Price Targets

A number of analysts have weighed in on BKSY shares. Canaccord Genuity Group reduced their price target on BlackSky Technology from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, February 27th. HC Wainwright reaffirmed a “buy” rating and issued a $42.00 price target on shares of BlackSky Technology in a research report on Friday, February 27th. Jefferies Financial Group started coverage on shares of BlackSky Technology in a research note on Monday, December 22nd. They issued a “buy” rating and a $23.00 price objective for the company. Wall Street Zen upgraded shares of BlackSky Technology from a “strong sell” rating to a “hold” rating in a research note on Saturday, March 21st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of BlackSky Technology in a research note on Wednesday, January 21st. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.40.

BlackSky Technology Price Performance

The stock’s 50 day moving average price is $24.04 and its two-hundred day moving average price is $22.37. The company has a debt-to-equity ratio of 2.04, a current ratio of 3.48 and a quick ratio of 3.37. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -15.22 and a beta of 2.25.

BlackSky Technology (NYSE:BKSY) last released its earnings results on Thursday, February 26th. The company reported ($0.19) EPS for the quarter, beating 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 53.94%. The firm had revenue of $35.21 million during the quarter, compared to analysts’ expectations of $37.13 million. On average, equities research analysts anticipate that BlackSky Technology Inc. will post -2.28 EPS for the current year.

Institutional Trading of BlackSky Technology

A number of hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its holdings in BlackSky Technology by 392.8% in the 4th quarter. Bank of New York Mellon Corp now owns 2,072,543 shares of the company’s stock valued at $38,860,000 after purchasing an additional 1,652,014 shares during the period. Vanguard Group Inc. boosted its holdings in BlackSky Technology by 7.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,697,683 shares of the company’s stock valued at $34,208,000 after purchasing an additional 123,171 shares during the period. State Street Corp boosted its holdings in BlackSky Technology by 63.3% in the 4th quarter. State Street Corp now owns 996,019 shares of the company’s stock valued at $18,675,000 after purchasing an additional 386,207 shares during the period. Daiwa Securities Group Inc. bought a new stake in BlackSky Technology in the 4th quarter valued at $16,395,000. Finally, Geode Capital Management LLC boosted its holdings in BlackSky Technology by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 718,490 shares of the company’s stock valued at $13,474,000 after purchasing an additional 22,695 shares during the period. 27.15% of the stock is owned by 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.