BlackSky Technology (NYSE:BKSY) Reaches New 1-Year High – Here’s What Happened

BlackSky Technology Inc. (NYSE:BKSY) shares reached a new 52-week high on Wednesday . The company traded as high as $34.14 and last traded at $33.8920, with a volume of 3199362 shares trading hands. The stock had previously closed at $30.93.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BKSY. Canaccord Genuity Group cut their price target on BlackSky Technology from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Wall Street Zen raised BlackSky Technology from a “strong sell” rating to a “hold” rating in a report on Saturday, March 21st. Jefferies Financial Group began coverage on BlackSky Technology in a report on Monday, December 22nd. They set a “buy” rating and a $23.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $42.00 price target on shares of BlackSky Technology in a 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, BlackSky Technology presently has a consensus rating of “Moderate Buy” and an average price target of $27.40.

BlackSky Technology Stock Up 9.6%

The company has a quick ratio of 3.37, a current ratio of 3.48 and a debt-to-equity ratio of 2.04. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of -15.76 and a beta of 2.25. The stock’s 50 day moving average is $23.93 and its 200 day moving average is $22.29.

BlackSky Technology (NYSE:BKSY) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.19) EPS 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 53.94%. The business had revenue of $35.21 million for the quarter, compared to analyst estimates of $37.13 million. Analysts forecast that BlackSky Technology Inc. will post -2.28 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Quarry LP acquired a new position in shares of BlackSky Technology during the fourth quarter valued at approximately $26,000. Strive Financial Group LLC acquired a new position in shares of BlackSky Technology during the fourth quarter valued at approximately $26,000. Wexford Capital LP acquired a new position in shares of BlackSky Technology during the third quarter valued at approximately $30,000. Global Retirement Partners LLC acquired a new position in BlackSky Technology in the fourth quarter worth approximately $28,000. Finally, IFP Advisors Inc grew its position in BlackSky Technology by 57.9% in the third quarter. IFP Advisors Inc now owns 2,253 shares of the company’s stock worth $45,000 after buying an additional 826 shares during 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.