BlackSky Technology (NYSE:BKSY) Sets New 1-Year High – What’s Next?

BlackSky Technology Inc. (NYSE:BKSY) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $43.08 and last traded at $41.7030, with a volume of 1303375 shares. The stock had previously closed at $39.45.

Wall Street Analyst Weigh In

BKSY has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BlackSky Technology in a report on Monday, April 20th. HC Wainwright reaffirmed a “buy” rating and set a $42.00 price objective on shares of BlackSky Technology in a report on Friday, February 27th. Wall Street Zen raised shares of BlackSky Technology from a “strong sell” rating to a “hold” rating in a report on Saturday, March 21st. Finally, Canaccord Genuity Group decreased their target price on BlackSky Technology from $27.00 to $26.00 and set a “buy” rating for the company 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $27.40.

BlackSky Technology Trading Up 5.3%

The stock has a market capitalization of $1.54 billion, a PE ratio of -16.28 and a beta of 2.44. The firm has a 50-day moving average price of $29.24 and a 200-day moving average price of $23.73. 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 announced its earnings results on Thursday, May 7th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.45). BlackSky Technology had a negative net margin of 89.07% and a negative return on equity of 72.20%. The business had revenue of $20.77 million for the quarter, compared to analysts’ expectations of $27.60 million. As a group, equities analysts forecast that BlackSky Technology Inc. will post -1.34 EPS for the current fiscal year.

Institutional Investors Weigh In On BlackSky Technology

Large investors have recently added to or reduced their stakes in the company. Round Rock Advisors LLC bought a new position in BlackSky Technology in the 4th quarter worth about $681,000. LBP AM SA boosted its stake in BlackSky Technology by 37.3% in the 4th quarter. LBP AM SA now owns 497,187 shares of the company’s stock worth $9,322,000 after purchasing an additional 135,013 shares during the period. Divisadero Street Capital Management LP boosted its stake in BlackSky Technology by 42.8% in the 3rd quarter. Divisadero Street Capital Management LP now owns 365,910 shares of the company’s stock worth $7,373,000 after purchasing an additional 109,610 shares during the period. Principal Financial Group Inc. bought a new position in BlackSky Technology in the 3rd quarter worth about $1,310,000. Finally, Portolan Capital Management LLC bought a new position in BlackSky Technology in the 3rd quarter worth about $7,855,000. Hedge funds and other institutional investors 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.