BlackSky Technology (NYSE:BKSY) Shares Gap Up – Time to Buy?

Shares of BlackSky Technology Inc. (NYSE:BKSY) gapped up prior to trading on Monday . The stock had previously closed at $24.76, but opened at $26.20. BlackSky Technology shares last traded at $26.5860, with a volume of 304,733 shares.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of BlackSky Technology in a research note on Monday, April 20th. Jefferies Financial Group raised shares of BlackSky Technology to a “hold” rating in a research note on Wednesday, June 10th. Finally, Wall Street Zen lowered BlackSky Technology from a “hold” rating to a “strong sell” rating in a report on Saturday, May 16th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, BlackSky Technology presently has a consensus rating of “Hold” and a consensus target price of $36.50.

BlackSky Technology Stock Performance

The stock has a market cap of $1.04 billion, a P/E ratio of -11.01 and a beta of 2.52. The firm’s 50-day moving average is $36.90 and its two-hundred day moving average is $28.80. 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 earnings results on Thursday, May 7th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.45). The business had revenue of $20.77 million during the quarter, compared to analyst estimates of $27.60 million. BlackSky Technology had a negative net margin of 89.07% and a negative return on equity of 74.25%. As a group, research analysts expect that BlackSky Technology Inc. will post -1.32 EPS for the current year.

Institutional Investors Weigh In On BlackSky Technology

Institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP acquired a new position in BlackSky Technology during the fourth quarter worth $26,000. Strive Financial Group LLC bought a new position in BlackSky Technology during 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 worth about $28,000. Wexford Capital LP acquired a new stake in shares of BlackSky Technology in the third quarter worth about $30,000. Finally, IFP Advisors Inc boosted its stake in shares of BlackSky Technology by 57.9% during the 3rd quarter. IFP Advisors Inc now owns 2,253 shares of the company’s stock worth $45,000 after acquiring an additional 826 shares in 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.