BlackSky Technology (NYSE:BKSY) Trading 8.2% Higher – What’s Next?

BlackSky Technology Inc. (NYSE:BKSY)’s stock price rose 8.2% during mid-day trading on Tuesday . The stock traded as high as $23.58 and last traded at $23.1750. Approximately 678,587 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 1,573,104 shares. The stock had previously closed at $21.41.

Analyst Upgrades and Downgrades

BKSY has been the subject of several analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of BlackSky Technology in a research note on Wednesday, January 21st. HC Wainwright upped their price objective on shares of BlackSky Technology from $28.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Finally, Jefferies Financial Group assumed coverage on BlackSky Technology in a research note on Monday, December 22nd. They set a “buy” rating and a $23.00 target price for the company. Six equities 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.com, the company has an average rating of “Moderate Buy” and an average target price of $28.00.

BlackSky Technology Stock Up 11.0%

The firm has a market cap of $855.45 million, a P/E ratio of -7.57 and a beta of 2.42. The firm’s 50-day moving average price is $21.65 and its 200 day moving average price is $20.47. The company has a debt-to-equity ratio of 2.08, a current ratio of 3.89 and a quick ratio of 3.89.

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

Hedge Funds Weigh In On BlackSky Technology

Hedge funds have recently added to or reduced their stakes in the business. Wexford Capital LP acquired a new stake in shares of BlackSky Technology during the third quarter worth $30,000. IFP Advisors Inc grew its position in shares of BlackSky Technology by 35,575.0% during the 2nd quarter. IFP Advisors Inc now owns 1,427 shares of the company’s stock valued at $32,000 after buying an additional 1,423 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in BlackSky Technology by 6,937.5% during the second quarter. Nisa Investment Advisors LLC now owns 1,689 shares of the company’s stock worth $35,000 after acquiring an additional 1,665 shares during the period. Jones Financial Companies Lllp bought a new position in BlackSky Technology in the third quarter worth about $50,000. Finally, Russell Investments Group Ltd. acquired a new position in BlackSky Technology in the third quarter valued at approximately $53,000. 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.