BlackSky Technology (NYSE:BKSY) Stock Price Down 8.6% – What’s Next?

BlackSky Technology Inc. (NYSE:BKSY) shares were down 8.6% during trading on Wednesday . The company traded as low as $16.49 and last traded at $16.43. Approximately 923,998 shares changed hands during trading, a decline of 46% from the average daily volume of 1,704,965 shares. The stock had previously closed at $17.97.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of BlackSky Technology in a report on Wednesday, October 8th. HC Wainwright upped their price objective on shares of BlackSky Technology from $28.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, October 10th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.00.

BlackSky Technology Stock Performance

The firm has a fifty day simple moving average of $19.92 and a 200 day simple moving average of $19.06. The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 2.08. The stock has a market cap of $590.02 million, a price-to-earnings ratio of -5.22 and a beta of 2.41.

BlackSky Technology (NYSE:BKSY) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.02. The business had revenue of $19.62 million for the quarter, compared to analysts’ expectations of $28.67 million. BlackSky Technology had a negative return on equity of 54.48% and a negative net margin of 87.11%. As a group, sell-side analysts expect that BlackSky Technology Inc. will post -2.28 earnings per share for the current year.

Institutional Trading of BlackSky Technology

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of BlackSky Technology by 7.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,697,683 shares of the company’s stock worth $34,208,000 after purchasing an additional 123,171 shares during the last quarter. Nuveen LLC acquired a new position in BlackSky Technology in the first quarter worth $9,582,000. Geode Capital Management LLC grew its holdings in shares of BlackSky Technology by 7.3% during the second quarter. Geode Capital Management LLC now owns 612,919 shares of the company’s stock worth $12,616,000 after purchasing an additional 41,922 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of BlackSky Technology by 343.7% in the first quarter. Goldman Sachs Group Inc. now owns 557,729 shares of the company’s stock valued at $4,311,000 after buying an additional 432,023 shares in the last quarter. Finally, Jump Financial LLC raised its holdings in shares of BlackSky Technology by 128.2% in the second quarter. Jump Financial LLC now owns 480,048 shares of the company’s stock valued at $9,879,000 after buying an additional 269,700 shares during the last quarter. Institutional investors and hedge funds own 27.15% of the company’s stock.

BlackSky Technology Company Profile

BlackSky Technology Inc provides geospatial intelligence, imagery and related data analytic products and services, and mission systems that include the development, integration, and operation of satellite and ground systems for government and commercial customers in North America, the Middle East, the Asia Pacific, and internationally.