BlackSky Technology (NYSE:BKSY) Shares Gap Up – Time to Buy?

BlackSky Technology Inc. (NYSE:BKSY) gapped up before the market opened on Tuesday . The stock had previously closed at $26.61, but opened at $28.13. BlackSky Technology shares last traded at $26.4150, with a volume of 432,914 shares.

Analyst Upgrades and Downgrades

BKSY has been the subject of several recent analyst reports. Jefferies Financial Group assumed coverage on BlackSky Technology in a research report on Monday, December 22nd. They issued a “buy” rating and a $23.00 target price 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 investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $28.00.

BlackSky Technology Stock Up 0.6%

The business’s fifty day moving average price is $18.52 and its two-hundred day moving average price is $20.12. The firm has a market cap of $963.52 million, a P/E ratio of -8.52 and a beta of 2.42. 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) EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $19.62 million for the quarter, compared to analyst estimates of $28.67 million. As a group, equities research analysts anticipate that BlackSky Technology Inc. will post -2.28 EPS for the current year.

Institutional Trading of BlackSky Technology

Several large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its stake in BlackSky Technology by 343.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 557,729 shares of the company’s stock valued at $4,311,000 after purchasing an additional 432,023 shares during the period. Geode Capital Management LLC increased its position in BlackSky Technology by 7.3% in the 2nd quarter. Geode Capital Management LLC now owns 612,919 shares of the company’s stock worth $12,616,000 after buying an additional 41,922 shares during the period. LBP AM SA lifted its holdings in shares of BlackSky Technology by 198.1% during the second quarter. LBP AM SA now owns 112,905 shares of the company’s stock worth $2,324,000 after buying an additional 75,024 shares during the last quarter. Prescott Group Capital Management L.L.C. bought a new stake in shares of BlackSky Technology in the second quarter valued at approximately $1,049,000. Finally, Jump Financial LLC grew its stake in shares of BlackSky Technology by 128.2% in the second quarter. Jump Financial LLC now owns 480,048 shares of the company’s stock worth $9,879,000 after acquiring an additional 269,700 shares during the last quarter. 27.15% of the stock is owned by institutional investors.

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.