BlackSky Technology (NYSE:BKSY) Sets New 12-Month High – What’s Next?

BlackSky Technology Inc. (NYSE:BKSY)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $45.50 and last traded at $45.15, with a volume of 2644877 shares traded. The stock had previously closed at $43.00.

Wall Street Analyst Weigh In

Several research analysts have issued reports on BKSY shares. Wall Street Zen downgraded shares of BlackSky Technology from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of BlackSky Technology in a research report on Monday, April 20th. HC Wainwright restated a “buy” rating and issued a $42.00 target price on shares of BlackSky Technology in a research note on Friday, February 27th. Finally, Canaccord Genuity Group reduced their target price on shares of BlackSky Technology from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, BlackSky Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.75.

BlackSky Technology Price Performance

The company has a market cap of $1.66 billion, a price-to-earnings ratio of -17.52 and a beta of 2.44. The company has a current ratio of 3.46, a quick ratio of 3.34 and a debt-to-equity ratio of 2.39. The company’s 50 day moving average price is $33.20 and its 200 day moving average price is $25.11.

BlackSky Technology (NYSE:BKSY) last released its earnings results on Thursday, May 7th. The company reported ($0.82) 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 firm had revenue of $20.77 million during the quarter, compared to analyst estimates of $27.60 million. Equities research analysts forecast that BlackSky Technology Inc. will post -1.32 earnings per share for the current year.

Institutional Trading of BlackSky Technology

Several hedge funds have recently made changes to their positions in BKSY. Quarry LP acquired a new stake in shares of BlackSky Technology in the fourth quarter valued at about $26,000. Strive Financial Group LLC acquired a new stake in shares of BlackSky Technology in the fourth quarter valued at about $26,000. Global Retirement Partners LLC acquired a new stake in shares of BlackSky Technology in the fourth quarter valued at about $28,000. Wexford Capital LP acquired a new stake in shares of BlackSky Technology in the third quarter valued at about $30,000. Finally, IFP Advisors Inc lifted its stake 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 valued at $45,000 after purchasing an additional 826 shares during the period. Institutional investors and hedge funds 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.