BlackSky Technology (NYSE:BKSY) Reaches New 1-Year High – Here’s What Happened

BlackSky Technology Inc. (NYSE:BKSY)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $34.14 and last traded at $33.8920, with a volume of 3199362 shares. The stock had previously closed at $30.93.

Analyst Ratings Changes

Several research analysts have issued reports on BKSY shares. Weiss Ratings restated a “sell (d-)” rating on shares of BlackSky Technology in a research report on Wednesday, January 21st. Wall Street Zen upgraded shares of BlackSky Technology from a “strong sell” rating to a “hold” rating in a research report on Saturday, March 21st. Jefferies Financial Group started coverage on shares of BlackSky Technology in a research report on Monday, December 22nd. They issued a “buy” rating and a $23.00 price target on the stock. HC Wainwright restated a “buy” rating and issued a $42.00 price target on shares of BlackSky Technology in a research report on Friday, February 27th. Finally, Canaccord Genuity Group decreased their price target on shares of BlackSky Technology from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Five investment 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 currently has a consensus rating of “Moderate Buy” and an average price target of $27.40.

BlackSky Technology Stock Performance

The company has a current ratio of 3.48, a quick ratio of 3.37 and a debt-to-equity ratio of 2.04. The stock has a market capitalization of $1.25 billion, a PE ratio of -15.76 and a beta of 2.25. The firm’s 50-day simple moving average is $23.93 and its two-hundred day simple moving average is $22.29.

BlackSky Technology (NYSE:BKSY) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.19) earnings per share for the quarter, topping 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 firm had revenue of $35.21 million for the quarter, compared to analysts’ expectations of $37.13 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

Several institutional investors and hedge funds have recently added to or reduced their stakes in BKSY. AQR Capital Management LLC purchased a new position in BlackSky Technology during the 1st quarter worth approximately $103,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in BlackSky Technology by 7.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,174 shares of the company’s stock worth $117,000 after purchasing an additional 1,015 shares in the last quarter. Goldman Sachs Group Inc. grew its position in BlackSky Technology by 343.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 557,729 shares of the company’s stock worth $4,311,000 after purchasing an additional 432,023 shares in the last quarter. Legal & General Group Plc grew its position in BlackSky Technology by 40.5% during the 2nd quarter. Legal & General Group Plc now owns 3,118 shares of the company’s stock worth $64,000 after purchasing an additional 899 shares in the last quarter. Finally, Rhumbline Advisers grew its position in BlackSky Technology by 11.1% during the 2nd quarter. Rhumbline Advisers now owns 39,229 shares of the company’s stock worth $807,000 after purchasing an additional 3,934 shares in the last quarter. 27.15% of the stock is currently owned by hedge funds and other institutional investors.

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.