BlackSky Technology (NYSE:BKSY) Shares Gap Up – Time to Buy?

BlackSky Technology Inc. (NYSE:BKSY) gapped up prior to trading on Monday . The stock had previously closed at $24.76, but opened at $26.20. BlackSky Technology shares last traded at $26.5860, with a volume of 304,733 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BKSY shares. Jefferies Financial Group raised BlackSky Technology to a “hold” rating in a research note on Wednesday, June 10th. Wall Street Zen lowered BlackSky Technology from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of BlackSky Technology in a report on Monday, April 20th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $36.50.

BlackSky Technology Stock Up 9.2%

The firm’s 50-day simple moving average is $37.30 and its 200 day simple moving average is $28.67. The company has a debt-to-equity ratio of 2.39, a quick ratio of 3.34 and a current ratio of 3.46. The company has a market cap of $1.00 billion, a P/E ratio of -10.59 and a beta of 2.52.

BlackSky Technology (NYSE:BKSY) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.45). BlackSky Technology had a negative return on equity of 74.25% and a negative net margin of 89.07%.The company had revenue of $20.77 million during the quarter, compared to the consensus estimate of $27.60 million. On average, research analysts forecast that BlackSky Technology Inc. will post -1.32 earnings per share for the current fiscal year.

Institutional Trading of BlackSky Technology

A number of hedge funds have recently modified their holdings of BKSY. Bank of New York Mellon Corp increased its stake in BlackSky Technology by 392.8% in the fourth quarter. Bank of New York Mellon Corp now owns 2,072,543 shares of the company’s stock valued at $38,860,000 after purchasing an additional 1,652,014 shares in the last quarter. Vanguard Group Inc. increased its position in shares of BlackSky Technology by 7.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,697,683 shares of the company’s stock valued at $34,208,000 after buying an additional 123,171 shares in the last quarter. State Street Corp raised its stake in BlackSky Technology by 63.3% during the 4th quarter. State Street Corp now owns 996,019 shares of the company’s stock worth $18,675,000 after buying an additional 386,207 shares during the period. Daiwa Securities Group Inc. bought a new position in BlackSky Technology during the fourth quarter worth about $16,395,000. Finally, Geode Capital Management LLC grew its stake in BlackSky Technology by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 718,490 shares of the company’s stock valued at $13,474,000 after acquiring an additional 22,695 shares during the period. 27.15% of the stock is currently owned by institutional investors and hedge funds.

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.