BlackSky Technology (NYSE:BKSY) Trading Up 7.7% – Time to Buy?

BlackSky Technology Inc. (NYSE:BKSY)’s share price was up 7.7% during mid-day trading on Tuesday . The stock traded as high as $25.97 and last traded at $25.8550. Approximately 801,563 shares changed hands during trading, a decline of 45% from the average daily volume of 1,449,506 shares. The stock had previously closed at $24.00.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Jefferies Financial Group started coverage on shares of BlackSky Technology in a research note on Monday, December 22nd. They set a “buy” rating and a $23.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BlackSky Technology in a report on Wednesday, January 21st. Canaccord Genuity Group lowered their price objective 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. Finally, HC Wainwright reiterated a “buy” rating and issued a $42.00 price objective on shares of BlackSky Technology in a report on Friday, February 27th. Five investment 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 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 is $23.67 and its 200 day moving average is $21.31. 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 stock has a market capitalization of $916.99 million, a PE ratio of -11.85 and a beta of 2.44.

BlackSky Technology (NYSE:BKSY) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $35.21 million during the quarter, compared to analysts’ expectations of $37.13 million. As a group, equities analysts expect that BlackSky Technology Inc. will post -2.28 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its position 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 buying an additional 1,652,014 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of BlackSky Technology by 7.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,697,683 shares of the company’s stock worth $34,208,000 after acquiring an additional 123,171 shares during the period. State Street Corp lifted its stake in shares of BlackSky Technology by 63.3% in the 4th quarter. State Street Corp now owns 996,019 shares of the company’s stock worth $18,675,000 after acquiring an additional 386,207 shares during the period. Daiwa Securities Group Inc. purchased a new stake in shares of BlackSky Technology in the fourth quarter valued at about $16,395,000. Finally, Geode Capital Management LLC boosted its holdings in shares of BlackSky Technology by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 718,490 shares of the company’s stock valued at $13,474,000 after acquiring an additional 22,695 shares in the last quarter. Institutional investors and hedge funds 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.