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

Shares of BlackSky Technology Inc. (NYSE:BKSY) rose 7.7% during trading on Tuesday . The stock traded as high as $25.97 and last traded at $25.8550. Approximately 801,563 shares changed hands during mid-day 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 research analysts have issued reports on BKSY shares. Jefferies Financial Group assumed 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 on the stock. HC Wainwright reiterated a “buy” rating and issued a $42.00 price target on shares of BlackSky Technology in a research note on Friday, February 27th. Canaccord Genuity Group reduced their price target on BlackSky Technology from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BlackSky Technology in a report on Wednesday, January 21st. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, BlackSky Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.40.

BlackSky Technology Stock Performance

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 company has a market cap of $934.48 million, a P/E ratio of -12.02 and a beta of 2.44. The stock’s fifty day moving average price is $23.61 and its two-hundred day moving average price is $21.22.

BlackSky Technology (NYSE:BKSY) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.19) EPS for the quarter, beating 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 54.86%. The business had revenue of $35.21 million during the quarter, compared to the consensus estimate of $37.13 million. As a group, equities analysts predict that BlackSky Technology Inc. will post -2.28 earnings per share for the current year.

Institutional Trading of BlackSky Technology

Large investors have recently bought and sold shares of the business. Quarry LP bought a new position in BlackSky Technology in the fourth quarter valued at about $26,000. Strive Financial Group LLC acquired a new stake in shares of BlackSky Technology in the 4th quarter valued at approximately $26,000. Wexford Capital LP acquired a new stake in shares of BlackSky Technology in the 3rd quarter valued at approximately $30,000. Global Retirement Partners LLC bought a new stake in shares of BlackSky Technology during the 4th quarter valued at approximately $28,000. Finally, IFP Advisors Inc increased its position in 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 purchasing an additional 826 shares in the last quarter. 27.15% of the stock is owned by institutional investors and hedge funds.

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.