BlackSky Technology (NYSE:BKSY) Stock Price Down 4.5% – What’s Next?

BlackSky Technology Inc. (NYSE:BKSY) shares traded down 4.5% on Wednesday . The company traded as low as $26.41 and last traded at $26.1520. 387,447 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 1,546,650 shares. The stock had previously closed at $27.37.

Wall Street Analyst Weigh In

BKSY has been the topic of several research reports. HC Wainwright boosted their target price on BlackSky Technology from $28.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, October 10th. Jefferies Financial Group assumed coverage on BlackSky Technology in a research note on Monday, December 22nd. They issued a “buy” rating and a $23.00 price objective on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of BlackSky Technology in a research report on Wednesday. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, BlackSky Technology presently has an average rating of “Moderate Buy” and a consensus price target of $28.00.

BlackSky Technology Stock Performance

The company has a quick ratio of 3.89, a current ratio of 3.89 and a debt-to-equity ratio of 2.08. The firm has a fifty day simple moving average of $20.46 and a two-hundred day simple moving average of $20.52.

BlackSky Technology (NYSE:BKSY) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.02. BlackSky Technology had a negative net margin of 87.11% and a negative return on equity of 54.48%. The company had revenue of $19.62 million for the quarter, compared to analysts’ expectations of $28.67 million. As a group, research analysts expect that BlackSky Technology Inc. will post -2.28 earnings per share for the current fiscal year.

Institutional Trading of BlackSky Technology

A number of hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc increased its stake in BlackSky Technology by 35,575.0% in the second quarter. IFP Advisors Inc now owns 1,427 shares of the company’s stock valued at $32,000 after acquiring an additional 1,423 shares during the last quarter. Wexford Capital LP purchased a new position in shares of BlackSky Technology in the 3rd quarter worth about $30,000. Nisa Investment Advisors LLC boosted its holdings in shares of BlackSky Technology by 6,937.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,689 shares of the company’s stock worth $35,000 after purchasing an additional 1,665 shares in the last quarter. Jones Financial Companies Lllp bought a new position in shares of BlackSky Technology during the 3rd quarter valued at about $50,000. Finally, Russell Investments Group Ltd. purchased a new position in shares of BlackSky Technology during the 3rd quarter valued at about $53,000. 27.15% of the stock is owned by institutional investors.

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.