BlackSky Technology (NYSE:BKSY) Shares Down 7.7% – Time to Sell?

BlackSky Technology Inc. (NYSE:BKSY)’s share price dropped 7.7% on Tuesday . The stock traded as low as $40.00 and last traded at $39.6860. Approximately 458,850 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 1,814,290 shares. The stock had previously closed at $43.00.

Analyst Ratings Changes

BKSY has been the subject of several research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of BlackSky Technology in a report on Monday, April 20th. HC Wainwright reaffirmed a “buy” rating and set a $42.00 price objective on shares of BlackSky Technology in a research note on Friday, February 27th. Canaccord Genuity Group reduced their price objective on BlackSky Technology from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Finally, Wall Street Zen downgraded BlackSky Technology from a “hold” rating to a “strong sell” rating in a research note on Saturday. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $29.75.

BlackSky Technology Trading Up 4.2%

The firm has a market cap of $1.66 billion, a price-to-earnings ratio of -17.54 and a beta of 2.44. The company has a debt-to-equity ratio of 2.39, a quick ratio of 3.34 and a current ratio of 3.46. The business has a fifty day moving average of $31.94 and a two-hundred day moving average of $24.59.

BlackSky Technology (NYSE:BKSY) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.45). The firm 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%. As a group, equities analysts expect that BlackSky Technology Inc. will post -1.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BlackSky Technology

A number of large investors have recently bought and sold shares of the stock. Quarry LP acquired a new stake in shares of BlackSky Technology during the fourth quarter worth $26,000. Strive Financial Group LLC acquired a new stake in shares of BlackSky Technology during the fourth quarter worth $26,000. Global Retirement Partners LLC acquired a new stake in shares of BlackSky Technology during the fourth quarter worth $28,000. Wexford Capital LP acquired a new stake in shares of BlackSky Technology during the third quarter worth $30,000. Finally, IFP Advisors Inc boosted its holdings in shares of BlackSky Technology by 57.9% during the third quarter. IFP Advisors Inc now owns 2,253 shares of the company’s stock worth $45,000 after purchasing an additional 826 shares during the last quarter. Institutional investors and hedge funds 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.