BlackSky Technology (NYSE:BKSY) Trading Down 10.9% – Should You Sell?

BlackSky Technology Inc. (NYSE:BKSY) shares traded down 10.9% during trading on Thursday . The stock traded as low as $24.95 and last traded at $24.7050. 954,325 shares changed hands during trading, a decline of 40% from the average session volume of 1,582,436 shares. The stock had previously closed at $27.73.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Jefferies Financial Group assumed coverage on BlackSky Technology in a research note on Monday, December 22nd. They issued a “buy” rating and a $23.00 price target for the company. HC Wainwright upped their target price on BlackSky Technology from $28.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of BlackSky Technology in a research report on Wednesday, January 21st. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

BlackSky Technology Stock Down 10.9%

The stock has a 50-day moving average price of $21.21 and a 200-day moving average price of $20.58. The company has a debt-to-equity ratio of 2.08, a current ratio of 3.89 and a quick ratio of 3.89. The company has a market capitalization of $889.35 million, a P/E ratio of -7.87 and a beta of 2.42.

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

Institutional Trading of BlackSky Technology

Hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its holdings in shares of BlackSky Technology by 343.7% during 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 during the last quarter. Wasatch Advisors LP bought a new position in BlackSky Technology in the 3rd quarter valued at about $8,278,000. Portolan Capital Management LLC acquired a new position in BlackSky Technology during the 3rd quarter valued at about $7,855,000. Jump Financial LLC increased its holdings in BlackSky Technology by 128.2% during the 2nd quarter. Jump Financial LLC now owns 480,048 shares of the company’s stock worth $9,879,000 after purchasing an additional 269,700 shares in the last quarter. Finally, LBP AM SA increased its holdings in BlackSky Technology by 220.8% during the 3rd quarter. LBP AM SA now owns 362,174 shares of the company’s stock worth $7,298,000 after purchasing an additional 249,269 shares in the last quarter. Institutional investors and hedge funds 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.