BlackSky Technology (NYSE:BKSY) Trading 5.7% Higher – Time to Buy?

BlackSky Technology Inc. (NYSE:BKSY)’s stock price traded up 5.7% during mid-day trading on Wednesday . The company traded as high as $27.24 and last traded at $26.9050. Approximately 244,934 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 1,908,836 shares. The stock had previously closed at $25.46.

Analyst Ratings Changes

A number of brokerages recently weighed in on BKSY. Jefferies Financial Group upgraded 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 note on Saturday, May 16th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of BlackSky Technology in a report on Monday, April 20th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $36.50.

BlackSky Technology Stock Performance

The business has a 50-day moving average price of $35.60 and a 200-day moving average price of $29.24. The firm has a market capitalization of $946.64 million, a price-to-earnings ratio of -10.00 and a beta of 2.59. The company has a quick ratio of 3.34, a current ratio of 3.46 and a debt-to-equity ratio of 2.39.

BlackSky Technology (NYSE:BKSY) last posted its quarterly earnings data 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). BlackSky Technology had a negative return on equity of 74.25% and a negative net margin of 89.07%.The business had revenue of $20.77 million during the quarter, compared to analyst estimates of $27.60 million. As a group, sell-side analysts forecast that BlackSky Technology Inc. will post -1.32 earnings per share for the current year.

Institutional Investors Weigh In On BlackSky Technology

Several institutional investors have recently added to or reduced their stakes in BKSY. FNY Investment Advisers LLC grew its stake in shares of BlackSky Technology by 323.0% during the second quarter. FNY Investment Advisers LLC now owns 21,891 shares of the company’s stock worth $611,000 after acquiring an additional 16,716 shares during the last quarter. Bank of America Corp DE raised its position in shares of BlackSky Technology by 156.1% in the 1st quarter. Bank of America Corp DE now owns 412,891 shares of the company’s stock valued at $10,388,000 after purchasing an additional 251,638 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in BlackSky Technology in the 1st quarter worth approximately $217,000. Quantinno Capital Management LP acquired a new stake in BlackSky Technology in the 1st quarter worth approximately $343,000. Finally, Sei Investments Co. grew its position in BlackSky Technology by 125.5% during the 1st quarter. Sei Investments Co. now owns 65,650 shares of the company’s stock worth $1,652,000 after purchasing an additional 36,541 shares during the last quarter. 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.