BlackSky Technology (NYSE:BKSY) Stock Price Up 13.6% – What’s Next?

BlackSky Technology Inc. (NYSE:BKSY) shot up 13.6% during mid-day trading on Thursday . The company traded as high as $28.52 and last traded at $28.6050. Approximately 301,737 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 1,803,011 shares. The stock had previously closed at $25.18.

Analyst Ratings Changes

Several research firms recently commented on BKSY. Weiss Ratings reiterated a “sell (d-)” rating on shares of BlackSky Technology in a research report on Friday, July 17th. Jefferies Financial Group upgraded shares of BlackSky Technology to a “hold” rating in a research report on Wednesday, June 10th. Finally, Wall Street Zen lowered shares of BlackSky Technology from a “hold” rating to a “strong sell” rating in a report on Saturday, May 16th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $39.33.

BlackSky Technology Trading Up 10.6%

The company has a quick ratio of 3.34, a current ratio of 3.46 and a debt-to-equity ratio of 2.39. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -10.91 and a beta of 2.61. The firm has a 50 day moving average price of $28.56 and a two-hundred day moving average price of $29.31.

BlackSky Technology (NYSE:BKSY) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.82) EPS 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 company had revenue of $20.77 million during the quarter, compared to analyst estimates of $27.60 million. As a group, equities analysts forecast that BlackSky Technology Inc. will post -1.32 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BKSY. Quarry LP acquired a new position in shares of BlackSky Technology in the 4th quarter worth approximately $26,000. Strive Financial Group LLC acquired a new stake in shares of BlackSky Technology during the fourth quarter worth $26,000. Global Retirement Partners LLC acquired a new stake in shares of BlackSky Technology during the fourth quarter worth $28,000. Wexford Capital LP bought a new position in BlackSky Technology during the third quarter worth $30,000. Finally, IFP Advisors Inc lifted its holdings in 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 buying an additional 826 shares during the period. 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.