BlackSky Technology (NYSE:BKSY) Trading Up 5.7% – Time to Buy?

BlackSky Technology Inc. (NYSE:BKSY) shares traded up 5.7% during mid-day trading on Wednesday . The company traded as high as $27.24 and last traded at $26.9050. 244,934 shares changed hands during trading, a decline of 87% from the average daily volume of 1,908,836 shares. The stock had previously closed at $25.46.

Analyst Ratings Changes

A number of brokerages have recently commented on BKSY. Wall Street Zen lowered shares of BlackSky Technology from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 16th. Jefferies Financial Group raised BlackSky Technology to a “hold” rating in a research note on Wednesday, June 10th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BlackSky Technology in a research report on Monday, April 20th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $36.50.

BlackSky Technology Trading Up 1.7%

The stock has a market capitalization of $960.74 million, a P/E ratio of -10.17 and a beta of 2.59. The company has a current ratio of 3.46, a quick ratio of 3.34 and a debt-to-equity ratio of 2.39. The company has a 50-day moving average price of $35.86 and a 200 day moving average price of $29.13.

BlackSky Technology (NYSE:BKSY) last posted its earnings results on Thursday, May 7th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.45). The company had revenue of $20.77 million during the quarter, compared to analysts’ expectations of $27.60 million. BlackSky Technology had a negative net margin of 89.07% and a negative return on equity of 74.25%. On average, research analysts forecast that BlackSky Technology Inc. will post -1.32 earnings per share for the current fiscal year.

Institutional Trading of BlackSky Technology

Hedge funds and other institutional investors have recently made changes to their positions in the business. Arax Advisory Partners boosted its stake in BlackSky Technology by 15.2% in the 4th quarter. Arax Advisory Partners now owns 5,985 shares of the company’s stock worth $112,000 after purchasing an additional 791 shares in the last quarter. IFP Advisors Inc grew 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 valued at $45,000 after buying an additional 826 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of BlackSky Technology by 40.5% during the second quarter. Legal & General Group Plc now owns 3,118 shares of the company’s stock valued at $64,000 after buying an additional 899 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of BlackSky Technology by 7.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,174 shares of the company’s stock valued at $117,000 after acquiring an additional 1,015 shares during the period. Finally, Quarry LP acquired a new stake in BlackSky Technology during the 4th quarter worth about $26,000. Hedge funds and other 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.