BlackSky Technology (NYSE:BKSY) Shares Gap Up – Still a Buy?

BlackSky Technology Inc. (NYSE:BKSY)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $26.61, but opened at $28.13. BlackSky Technology shares last traded at $26.4150, with a volume of 432,914 shares changing hands.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BKSY. 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. Weiss Ratings restated a “sell (d-)” rating on shares of BlackSky Technology in a research report on Wednesday, October 8th. Finally, HC Wainwright boosted their price target on BlackSky Technology from $28.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, BlackSky Technology has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

BlackSky Technology Stock Up 0.6%

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 $963.52 million, a P/E ratio of -8.52 and a beta of 2.42. The stock has a 50 day moving average price of $18.52 and a 200 day moving average price of $20.12.

BlackSky Technology (NYSE:BKSY) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.35) EPS 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 firm had revenue of $19.62 million for the quarter, compared to analysts’ expectations of $28.67 million. Research analysts expect that BlackSky Technology Inc. will post -2.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BlackSky Technology

Large investors have recently modified their holdings of the stock. AQR Capital Management LLC acquired a new position in shares of BlackSky Technology in the 1st quarter worth $103,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in BlackSky Technology by 7.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,174 shares of the company’s stock valued at $117,000 after buying an additional 1,015 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in BlackSky Technology by 343.7% during the first quarter. Goldman Sachs Group Inc. now owns 557,729 shares of the company’s stock valued at $4,311,000 after buying an additional 432,023 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of BlackSky Technology by 12.2% in the first quarter. Rhumbline Advisers now owns 35,295 shares of the company’s stock worth $273,000 after buying an additional 3,849 shares during the period. Finally, LBP AM SA increased its position in shares of BlackSky Technology by 198.1% in the second quarter. LBP AM SA now owns 112,905 shares of the company’s stock worth $2,324,000 after acquiring an additional 75,024 shares in the last quarter. 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.