BlackSky Technology (NYSE:BKSY) Shares Up 10.8% – Should You Buy?

Shares of BlackSky Technology Inc. (NYSE:BKSY) traded up 10.8% during mid-day trading on Thursday . The company traded as high as $34.20 and last traded at $35.0930. 394,034 shares traded hands during trading, a decline of 77% from the average session volume of 1,680,079 shares. The stock had previously closed at $31.66.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of BlackSky Technology in a report on Monday, April 20th. Wall Street Zen upgraded shares of BlackSky Technology from a “strong sell” rating to a “hold” rating in a research note on Saturday, March 21st. HC Wainwright restated a “buy” rating and set a $42.00 price objective on shares of BlackSky Technology in a research note on Friday, February 27th. Finally, Canaccord Genuity Group reduced their price objective on shares of BlackSky Technology from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $27.40.

BlackSky Technology Price Performance

The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of -16.63 and a beta of 2.25. The company’s 50 day moving average is $27.97 and its 200-day moving average is $23.54. 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 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. BlackSky Technology had a negative net margin of 65.93% and a negative return on equity of 53.94%. The business had revenue of $35.21 million during the quarter, compared to the consensus estimate of $37.13 million. Equities research analysts anticipate that BlackSky Technology Inc. will post -1.33 earnings per share for the current year.

Institutional Investors Weigh In On BlackSky Technology

Hedge funds have recently bought and sold shares of the company. Round Rock Advisors LLC acquired a new stake in BlackSky Technology during the fourth quarter worth approximately $681,000. LBP AM SA lifted its position in BlackSky Technology by 37.3% during the fourth quarter. LBP AM SA now owns 497,187 shares of the company’s stock worth $9,322,000 after acquiring an additional 135,013 shares during the last quarter. Divisadero Street Capital Management LP lifted its position in BlackSky Technology by 42.8% during the third quarter. Divisadero Street Capital Management LP now owns 365,910 shares of the company’s stock worth $7,373,000 after acquiring an additional 109,610 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in BlackSky Technology during the third quarter worth approximately $1,310,000. Finally, Portolan Capital Management LLC acquired a new stake in BlackSky Technology during the third quarter worth approximately $7,855,000. 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.