BlackSky Technology (NYSE:BKSY) Trading 18.1% Higher – Here’s Why

BlackSky Technology Inc. (NYSE:BKSY) was up 18.1% during mid-day trading on Monday . The stock traded as high as $21.74 and last traded at $22.2710. Approximately 550,424 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 1,481,841 shares. The stock had previously closed at $18.85.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Canaccord Genuity Group cut their price target 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. HC Wainwright restated a “buy” rating and issued a $42.00 target price on shares of BlackSky Technology in a report on Friday, February 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of BlackSky Technology in a report on Wednesday, January 21st. Finally, Jefferies Financial Group began coverage on BlackSky Technology in a research note on Monday, December 22nd. They set a “buy” rating and a $23.00 price objective on the stock. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.40.

BlackSky Technology Trading Down 0.5%

The stock has a market cap of $813.37 million, a P/E ratio of -10.51 and a beta of 2.44. 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 50-day moving average price of $22.90 and a 200-day moving average price of $20.79.

BlackSky Technology (NYSE:BKSY) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.06. The company had revenue of $35.21 million during the quarter, compared to the consensus estimate of $37.13 million. BlackSky Technology had a negative net margin of 65.93% and a negative return on equity of 54.86%. On average, equities research analysts expect that BlackSky Technology Inc. will post -2.28 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BKSY. Quarry LP purchased a new position in BlackSky Technology during the 4th quarter valued at about $26,000. Strive Financial Group LLC bought a new position in shares of BlackSky Technology during the fourth quarter valued at $26,000. Global Retirement Partners LLC bought a new position in BlackSky Technology in the 4th quarter worth about $28,000. Wexford Capital LP purchased a new stake in BlackSky Technology during the 3rd quarter valued at about $30,000. Finally, Nisa Investment Advisors LLC increased its stake in BlackSky Technology by 6,937.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,689 shares of the company’s stock valued at $35,000 after purchasing an additional 1,665 shares in the last quarter. 27.15% of the stock is currently 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.