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

Shares of BlackSky Technology Inc. (NYSE:BKSY) hit a new 52-week high on Tuesday . The stock traded as high as $51.03 and last traded at $51.01, with a volume of 459836 shares trading hands. The stock had previously closed at $47.87.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BlackSky Technology in a report on Monday, April 20th. HC Wainwright reaffirmed a “buy” rating and issued a $42.00 target price on shares of BlackSky Technology in a report on Friday, February 27th. Wall Street Zen downgraded shares of BlackSky Technology from a “hold” rating to a “strong sell” rating in a report on Saturday, May 16th. Finally, Canaccord Genuity Group lowered their target price on shares of BlackSky Technology from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, BlackSky Technology currently has an average rating of “Moderate Buy” and a consensus target price of $29.75.

BlackSky Technology Trading Up 6.7%

The stock has a market cap of $1.89 billion, a PE ratio of -20.02 and a beta of 2.44. The business’s fifty day moving average is $34.16 and its 200 day moving average is $25.51. The company has a quick ratio of 3.34, a current ratio of 3.46 and a debt-to-equity ratio of 2.39.

BlackSky Technology (NYSE:BKSY) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.82) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.45). BlackSky Technology had a negative return on equity of 74.25% and a negative net margin of 89.07%.The company had revenue of $20.77 million for the quarter, compared to analysts’ expectations of $27.60 million. As a group, analysts predict that BlackSky Technology Inc. will post -1.32 earnings per share for the current year.

Institutional Trading of BlackSky Technology

Several institutional investors and hedge funds have recently modified their holdings of BKSY. Bank of New York Mellon Corp lifted its holdings in shares of BlackSky Technology by 392.8% in the fourth quarter. Bank of New York Mellon Corp now owns 2,072,543 shares of the company’s stock valued at $38,860,000 after purchasing an additional 1,652,014 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of BlackSky Technology in the fourth quarter valued at about $16,395,000. Goldman Sachs Group Inc. lifted its position in shares of BlackSky Technology by 343.7% in the first quarter. Goldman Sachs Group Inc. now owns 557,729 shares of the company’s stock valued at $4,311,000 after acquiring an additional 432,023 shares in the last quarter. Wasatch Advisors LP purchased a new stake in shares of BlackSky Technology in the third quarter valued at $8,278,000. Finally, Portolan Capital Management LLC purchased a new position in shares of BlackSky Technology during the third quarter valued at approximately $7,855,000. 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.