BlackSky Technology (NYSE:BKSY) Trading 11.4% Higher – Time to Buy?

BlackSky Technology Inc. (NYSE:BKSY) shares traded up 11.4% during trading on Wednesday . The stock traded as high as $29.19 and last traded at $28.3230. 636,263 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 1,473,005 shares. The stock had previously closed at $25.43.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on BKSY shares. Jefferies Financial Group initiated coverage on BlackSky Technology in a research note on Monday, December 22nd. They set a “buy” rating and a $23.00 price objective for the company. Wall Street Zen upgraded shares of BlackSky Technology from a “strong sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings reissued a “sell (d-)” rating on shares of BlackSky Technology in a research report on Wednesday, January 21st. Canaccord Genuity Group lowered their price target 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 reiterated a “buy” rating and set a $42.00 price objective on shares of BlackSky Technology in a research note on Friday, February 27th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.40.

BlackSky Technology Price Performance

The stock has a 50-day moving average price of $23.72 and a two-hundred day moving average price of $21.61. The company has a current ratio of 3.48, a quick ratio of 3.37 and a debt-to-equity ratio of 2.04. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -12.66 and a beta of 2.44.

BlackSky Technology (NYSE:BKSY) last announced its earnings results 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 company had revenue of $35.21 million for the quarter, compared to analyst estimates of $37.13 million. BlackSky Technology had a negative return on equity of 53.94% and a negative net margin of 65.93%. As a group, equities research analysts forecast that BlackSky Technology Inc. will post -2.28 EPS for the current year.

Institutional Trading of BlackSky Technology

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

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.