BlackSky Technology (NYSE:BKSY) Stock Price Up 8.5% – What’s Next?

BlackSky Technology Inc. (NYSE:BKSY)’s share price rose 8.5% during mid-day trading on Thursday . The company traded as high as $35.95 and last traded at $35.90. Approximately 785,275 shares were traded during trading, a decline of 53% from the average daily volume of 1,654,078 shares. The stock had previously closed at $33.08.

Analyst Upgrades and Downgrades

BKSY has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of BlackSky Technology from a “strong sell” rating to a “hold” rating in a research report on Saturday, March 21st. HC Wainwright reiterated a “buy” rating and set a $42.00 target price on shares of BlackSky Technology in a research report on Friday, February 27th. Jefferies Financial Group initiated coverage on shares of BlackSky Technology in a research report on Monday, December 22nd. They set a “buy” rating and a $23.00 target price for the company. Canaccord Genuity Group dropped their target price on shares of BlackSky Technology from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of BlackSky Technology in a research report 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $27.40.

BlackSky Technology Stock Up 13.2%

The company has a debt-to-equity ratio of 2.04, a quick ratio of 3.37 and a current ratio of 3.48. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of -17.46 and a beta of 2.25. The firm’s 50-day simple moving average is $25.12 and its two-hundred day simple moving average is $22.81.

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

Institutional Investors Weigh In On BlackSky Technology

Institutional investors have recently modified their holdings of the business. Quarry LP acquired a new stake in shares of BlackSky Technology during the 4th quarter worth approximately $26,000. Strive Financial Group LLC acquired a new stake in shares of BlackSky Technology during the 4th quarter worth approximately $26,000. Global Retirement Partners LLC acquired a new stake in shares of BlackSky Technology during the 4th quarter worth approximately $28,000. Wexford Capital LP acquired a new stake in shares of BlackSky Technology during the 3rd quarter worth approximately $30,000. Finally, IFP Advisors Inc grew its position in shares of BlackSky Technology by 57.9% during the 3rd quarter. IFP Advisors Inc now owns 2,253 shares of the company’s stock worth $45,000 after buying an additional 826 shares during the period. 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.