BlackSky Technology (NYSE:BKSY) Stock Price Down 8.6% – Time to Sell?

BlackSky Technology Inc. (NYSE:BKSY) fell 8.6% during mid-day trading on Wednesday . The stock traded as low as $16.49 and last traded at $16.43. 923,998 shares changed hands during trading, a decline of 46% from the average session volume of 1,704,965 shares. The stock had previously closed at $17.97.

Analysts Set New Price Targets

BKSY has been the topic of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of BlackSky Technology in a report on Wednesday, October 8th. HC Wainwright increased 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. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $29.00.

BlackSky Technology Stock Down 8.8%

The firm’s fifty day moving average is $19.92 and its two-hundred day moving average is $19.06. The company has a debt-to-equity ratio of 2.08, a current ratio of 3.89 and a quick ratio of 3.89. The firm has a market cap of $590.02 million, a price-to-earnings ratio of -5.22 and a beta of 2.41.

BlackSky Technology (NYSE:BKSY) last announced its earnings results on Thursday, November 6th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.02. The business had revenue of $19.62 million during the quarter, compared to analysts’ expectations of $28.67 million. BlackSky Technology had a negative return on equity of 54.48% and a negative net margin of 87.11%. On average, sell-side analysts expect that BlackSky Technology Inc. will post -2.28 EPS for the current fiscal year.

Institutional Investors Weigh In On BlackSky Technology

A number of institutional investors and hedge funds have recently modified their holdings of the stock. FNY Investment Advisers LLC acquired a new position in shares of BlackSky Technology in the 3rd quarter worth $59,000. Tudor Investment Corp ET AL lifted its stake in BlackSky Technology by 29.4% during the third quarter. Tudor Investment Corp ET AL now owns 70,265 shares of the company’s stock valued at $1,416,000 after buying an additional 15,976 shares in the last quarter. IFP Advisors Inc boosted its holdings in shares of 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 period. CIBC Bancorp USA Inc. purchased a new position in shares of BlackSky Technology in the third quarter worth approximately $218,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of BlackSky Technology in the 3rd quarter valued at approximately $56,000. Institutional investors and hedge funds own 27.15% of the company’s stock.

BlackSky Technology Company Profile

BlackSky Technology Inc provides geospatial intelligence, imagery and related data analytic products and services, and mission systems that include the development, integration, and operation of satellite and ground systems for government and commercial customers in North America, the Middle East, the Asia Pacific, and internationally.