BlackSky Technology (NYSE:BKSY) Trading 8.9% Higher – Time to Buy?

BlackSky Technology Inc. (NYSE:BKSY)’s share price rose 8.9% on Tuesday . The stock traded as high as $24.74 and last traded at $24.7350. Approximately 1,558,732 shares were traded during mid-day trading, an increase of 6% from the average daily volume of 1,474,113 shares. The stock had previously closed at $22.72.

Analyst Ratings Changes

BKSY has been the subject of several research analyst reports. 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 for the company. HC Wainwright raised their price objective on BlackSky Technology from $28.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of BlackSky Technology in a report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $28.00.

BlackSky Technology Trading Up 2.5%

The firm has a market capitalization of $895.00 million, a price-to-earnings ratio of -7.92 and a beta of 2.42. The company has a fifty day moving average price of $18.31 and a 200-day moving average price of $19.98. The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 2.08.

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

Hedge Funds Weigh In On BlackSky Technology

Several hedge funds have recently bought and sold shares of BKSY. AQR Capital Management LLC bought a new position in BlackSky Technology during the first quarter valued at about $103,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of 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 valued at $117,000 after acquiring an additional 1,015 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of BlackSky Technology by 343.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 557,729 shares of the company’s stock valued at $4,311,000 after acquiring an additional 432,023 shares in the last quarter. Rhumbline Advisers raised its stake in shares of BlackSky Technology by 12.2% in the 1st quarter. Rhumbline Advisers now owns 35,295 shares of the company’s stock valued at $273,000 after acquiring an additional 3,849 shares in the last quarter. Finally, LBP AM SA lifted its holdings in BlackSky Technology by 198.1% in the 2nd quarter. LBP AM SA now owns 112,905 shares of the company’s stock worth $2,324,000 after purchasing an additional 75,024 shares during the last quarter. 27.15% of the stock is owned by institutional investors and hedge funds.

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.