BlackSky Technology (NYSE:BKSY) Trading Down 5.6% – Here’s Why

BlackSky Technology Inc. (NYSE:BKSY)’s share price dropped 5.6% during trading on Tuesday . The stock traded as low as $23.25 and last traded at $23.3150. Approximately 149,784 shares changed hands during trading, a decline of 91% from the average daily volume of 1,613,170 shares. The stock had previously closed at $24.71.

Analyst Ratings Changes

BKSY has been the subject of several recent analyst reports. Jefferies Financial Group started coverage on shares of BlackSky Technology in a report on Monday, December 22nd. They set a “buy” rating and a $23.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BlackSky Technology in a research note on Wednesday, January 21st. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, BlackSky Technology currently has an average rating of “Moderate Buy” and a consensus price target of $28.00.

BlackSky Technology Price Performance

The firm’s 50-day moving average is $22.18 and its 200-day moving average is $20.52. The company has a quick ratio of 3.89, a current ratio of 3.89 and a debt-to-equity ratio of 2.08. The company has a market capitalization of $803.22 million, a PE ratio of -7.08 and a beta of 2.43.

Hedge Funds Weigh In On BlackSky Technology

Institutional investors and hedge funds have recently made changes to their positions in the business. Eurizon Capital SGR S.p.A. purchased a new position in shares of BlackSky Technology in the fourth quarter worth about $95,000. Kingsview Wealth Management LLC purchased a new stake in shares of BlackSky Technology during the fourth quarter valued at approximately $735,000. Geode Capital Management LLC grew its holdings in shares of BlackSky Technology by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 718,490 shares of the company’s stock worth $13,474,000 after purchasing an additional 22,695 shares during the last quarter. Legato Capital Management LLC increased its stake in shares of BlackSky Technology by 9.7% in the fourth quarter. Legato Capital Management LLC now owns 43,184 shares of the company’s stock worth $810,000 after buying an additional 3,814 shares during the period. Finally, Global Retirement Partners LLC bought a new stake in BlackSky Technology during the 4th quarter valued at $28,000. 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.