BlackSky Technology (NYSE:BKSY) Stock Price Down 5.6% – Time to Sell?

BlackSky Technology Inc. (NYSE:BKSY)’s share price dropped 5.6% on Tuesday . The company traded as low as $23.25 and last traded at $23.3150. Approximately 149,784 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 1,613,170 shares. The stock had previously closed at $24.71.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BKSY. Weiss Ratings reiterated a “sell (d-)” rating on shares of BlackSky Technology in a report on Wednesday, January 21st. Jefferies Financial Group started coverage on BlackSky Technology in a report on Monday, December 22nd. They set a “buy” rating and a $23.00 price objective for the company. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

BlackSky Technology Price Performance

The company’s fifty day moving average is $22.18 and its 200 day moving average is $20.52. The stock has a market cap of $802.54 million, a PE ratio of -7.08 and a beta of 2.43. The company has a quick ratio of 3.89, a current ratio of 3.89 and a debt-to-equity ratio of 2.08.

Institutional Trading of BlackSky Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Griffin Asset Management Inc. increased its holdings in shares of BlackSky Technology by 1.6% in the third quarter. Griffin Asset Management Inc. now owns 48,856 shares of the company’s stock valued at $984,000 after buying an additional 746 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of BlackSky Technology by 57.9% during the 3rd quarter. IFP Advisors Inc now owns 2,253 shares of the company’s stock valued at $45,000 after purchasing an additional 826 shares in the last quarter. Legal & General Group Plc lifted its holdings in BlackSky Technology by 40.5% in 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 during the last quarter. Concurrent Investment Advisors LLC increased its stake in shares of BlackSky Technology by 5.6% in the third quarter. Concurrent Investment Advisors LLC now owns 19,042 shares of the company’s stock worth $384,000 after purchasing an additional 1,010 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of BlackSky Technology by 7.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,174 shares of the company’s stock worth $117,000 after acquiring an additional 1,015 shares during the period. 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.