BlackSky Technology (NYSE:BKSY) Stock Price Down 7.1% – Time to Sell?

BlackSky Technology Inc. (NYSE:BKSY)’s stock price traded down 7.1% during trading on Thursday . The company traded as low as $26.34 and last traded at $25.9150. 246,153 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 1,758,203 shares. The stock had previously closed at $27.90.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BKSY. Weiss Ratings reiterated a “sell (d-)” rating on shares of BlackSky Technology in a report on Friday, July 17th. Clear Str raised BlackSky Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Jefferies Financial Group upgraded shares of BlackSky Technology to a “hold” rating in a report on Wednesday, June 10th. Finally, Wall Street Zen upgraded shares of BlackSky Technology from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, BlackSky Technology has an average rating of “Moderate Buy” and a consensus price target of $39.33.

BlackSky Technology Price Performance

The stock has a 50-day moving average price of $26.59 and a two-hundred day moving average price of $29.53. The company has a current ratio of 5.83, a quick ratio of 5.72 and a debt-to-equity ratio of 0.94. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of -14.46 and a beta of 2.61.

BlackSky Technology (NYSE:BKSY) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.16). BlackSky Technology had a negative return on equity of 51.24% and a negative net margin of 61.24%.The business had revenue of $33.32 million during the quarter, compared to analyst estimates of $30.72 million. As a group, equities research analysts forecast that BlackSky Technology Inc. will post -1.27 EPS for the current year.

Institutional Trading of BlackSky Technology

Large investors have recently bought and sold shares of the stock. Sei Investments Co. grew its holdings in shares of BlackSky Technology by 125.5% during the first quarter. Sei Investments Co. now owns 65,650 shares of the company’s stock valued at $1,652,000 after buying an additional 36,541 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in BlackSky Technology in the 4th quarter worth $7,930,000. Tema ETFs LLC raised its stake in BlackSky Technology by 110,505.8% in the 2nd quarter. Tema ETFs LLC now owns 1,446,724 shares of the company’s stock worth $40,393,000 after acquiring an additional 1,445,416 shares during the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in BlackSky Technology during the 4th quarter worth about $247,000. Finally, Kingsview Wealth Management LLC purchased a new stake in BlackSky Technology during the 4th quarter valued at about $735,000. Hedge funds and other institutional investors own 27.15% of the company’s stock.

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.