BlackSky Technology (NYSE:BKSY) Sets New 1-Year High – What’s Next?

BlackSky Technology Inc. (NYSE:BKSY) hit a new 52-week high during trading on Monday . The stock traded as high as $43.08 and last traded at $41.7030, with a volume of 1303375 shares. The stock had previously closed at $39.45.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BKSY. Canaccord Genuity Group dropped their price target on BlackSky Technology from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Wall Street Zen upgraded BlackSky Technology from a “strong sell” rating to a “hold” rating in a research report on Saturday, March 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of BlackSky Technology in a research report on Monday, April 20th. Finally, HC Wainwright reiterated a “buy” rating and set a $42.00 price target on shares of BlackSky Technology in a research report on Friday, February 27th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $27.40.

BlackSky Technology Stock Up 5.3%

The stock has a 50-day moving average of $29.24 and a two-hundred day moving average of $23.73. The company has a market cap of $1.54 billion, a P/E ratio of -16.28 and a beta of 2.44. The company has a debt-to-equity ratio of 2.04, a quick ratio of 3.37 and a current ratio of 3.48.

BlackSky Technology (NYSE:BKSY) last released its earnings results on Thursday, May 7th. The company reported ($0.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.45). The firm had revenue of $20.77 million during the quarter, compared to the consensus estimate of $27.60 million. BlackSky Technology had a negative return on equity of 72.20% and a negative net margin of 89.07%. On average, research analysts anticipate that BlackSky Technology Inc. will post -1.34 EPS for the current fiscal year.

Institutional Trading of BlackSky Technology

A number of hedge funds have recently bought and sold shares of BKSY. Bank of New York Mellon Corp lifted its position in BlackSky Technology by 392.8% in the 4th quarter. Bank of New York Mellon Corp now owns 2,072,543 shares of the company’s stock worth $38,860,000 after buying an additional 1,652,014 shares during the last quarter. Daiwa Securities Group Inc. bought a new stake in BlackSky Technology in the 4th quarter worth approximately $16,395,000. Goldman Sachs Group Inc. increased its stake in BlackSky Technology by 343.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 557,729 shares of the company’s stock worth $4,311,000 after purchasing an additional 432,023 shares during the period. Wasatch Advisors LP purchased a new position in BlackSky Technology in the 3rd quarter worth approximately $8,278,000. Finally, Portolan Capital Management LLC purchased a new position in BlackSky Technology in the 3rd quarter worth approximately $7,855,000. Institutional investors own 27.15% of the company’s stock.

About BlackSky Technology

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.