BlackSky Technology (NYSE:BKSY) Stock Price Up 8.2% – Time to Buy?

BlackSky Technology Inc. (NYSE:BKSY) rose 8.2% during trading on Tuesday . The company traded as high as $23.58 and last traded at $23.1750. Approximately 678,587 shares traded hands during trading, a decline of 57% from the average daily volume of 1,573,104 shares. The stock had previously closed at $21.41.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of BlackSky Technology in a research report on Wednesday, January 21st. HC Wainwright raised their price objective on BlackSky Technology from $28.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, October 10th. Finally, Jefferies Financial Group initiated coverage on BlackSky Technology in a research note on Monday, December 22nd. They issued a “buy” rating and a $23.00 target price for the company. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, BlackSky Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

BlackSky Technology Price Performance

The company has a 50 day simple moving average of $21.65 and a 200 day simple moving average of $20.47. The company has a market capitalization of $855.45 million, a price-to-earnings ratio of -7.57 and a beta of 2.42. The company has a quick ratio of 3.89, a current ratio of 3.89 and a debt-to-equity ratio of 2.08.

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

Hedge Funds Weigh In On BlackSky Technology

Several hedge funds and other institutional investors have recently made changes to their positions in BKSY. Griffin Asset Management Inc. increased its holdings in BlackSky Technology by 1.6% in the 3rd quarter. Griffin Asset Management Inc. now owns 48,856 shares of the company’s stock valued at $984,000 after purchasing an additional 746 shares in the last quarter. IFP Advisors Inc boosted its position 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. Legal & General Group Plc grew its stake in shares of BlackSky Technology by 40.5% in the second quarter. Legal & General Group Plc now owns 3,118 shares of the company’s stock valued at $64,000 after buying an additional 899 shares in the last quarter. Concurrent Investment Advisors LLC grew its stake in shares of BlackSky Technology by 5.6% in the third quarter. Concurrent Investment Advisors LLC now owns 19,042 shares of the company’s stock valued at $384,000 after buying an additional 1,010 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of BlackSky Technology by 7.2% during the 1st 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 during the period. Institutional investors and hedge funds 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.