BlackSky Technology (NYSE:BKSY) Reaches New 52-Week High – Still a Buy?

BlackSky Technology Inc. (NYSE:BKSY) reached a new 52-week high during trading on Tuesday . The stock traded as high as $36.90 and last traded at $34.2390, with a volume of 173277 shares. The stock had previously closed at $34.79.

Analyst Ratings Changes

BKSY has been the topic of several analyst reports. Jefferies Financial Group initiated coverage on BlackSky Technology in a report on Monday, December 22nd. They set a “buy” rating and a $23.00 price target on the stock. Wall Street Zen upgraded BlackSky Technology from a “strong sell” rating to a “hold” rating in a report on Saturday, March 21st. Weiss Ratings restated a “sell (d-)” rating on shares of BlackSky Technology in a report on Wednesday, January 21st. Canaccord Genuity Group reduced their price objective on shares of BlackSky Technology from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Finally, HC Wainwright restated a “buy” rating and issued a $42.00 price objective on shares of BlackSky Technology in a report on Friday, February 27th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.40.

BlackSky Technology Stock Performance

The stock has a market capitalization of $1.21 billion, a PE ratio of -15.15 and a beta of 2.25. The firm’s fifty day moving average is $24.71 and its 200-day moving average is $22.65. The company has a current ratio of 3.48, a quick ratio of 3.37 and a debt-to-equity ratio of 2.04.

BlackSky Technology (NYSE:BKSY) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.06. The firm had revenue of $35.21 million for the quarter, compared to analyst estimates of $37.13 million. BlackSky Technology had a negative net margin of 65.93% and a negative return on equity of 53.94%. As a group, research analysts anticipate that BlackSky Technology Inc. will post -2.28 earnings per share for the current year.

Institutional Trading of BlackSky Technology

Several institutional investors and hedge funds have recently bought and sold shares of BKSY. Griffin Asset Management Inc. increased its stake in BlackSky Technology by 1.6% during the third quarter. Griffin Asset Management Inc. now owns 48,856 shares of the company’s stock worth $984,000 after purchasing an additional 746 shares during the period. Arax Advisory Partners increased its stake in BlackSky Technology by 15.2% during the fourth quarter. Arax Advisory Partners now owns 5,985 shares of the company’s stock worth $112,000 after purchasing an additional 791 shares during the period. IFP Advisors Inc increased its stake in BlackSky Technology by 57.9% during the third quarter. IFP Advisors Inc now owns 2,253 shares of the company’s stock worth $45,000 after purchasing an additional 826 shares during the period. Legal & General Group Plc increased its stake in BlackSky Technology by 40.5% during the second quarter. Legal & General Group Plc now owns 3,118 shares of the company’s stock worth $64,000 after purchasing an additional 899 shares during the period. Finally, Concurrent Investment Advisors LLC increased its stake in BlackSky Technology by 5.6% during the third quarter. Concurrent Investment Advisors LLC now owns 19,042 shares of the company’s stock worth $384,000 after purchasing an additional 1,010 shares during the period. 27.15% of the stock is currently owned by hedge funds and other institutional investors.

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.