BlackSky Technology (NYSE:BKSY) Shares Down 9.1% – Time to Sell?

BlackSky Technology Inc. (NYSE:BKSY) was down 9.1% on Tuesday . The stock traded as low as $32.02 and last traded at $31.1650. Approximately 660,939 shares traded hands during trading, a decline of 65% from the average daily volume of 1,888,584 shares. The stock had previously closed at $34.28.

Analyst Ratings Changes

Several analysts have recently commented on BKSY shares. Weiss Ratings restated a “sell (d-)” rating on shares of BlackSky Technology in a report on Monday, April 20th. Jefferies Financial Group upgraded BlackSky Technology to a “hold” rating in a research report on Wednesday. Canaccord Genuity Group decreased their price objective 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. HC Wainwright reaffirmed a “buy” rating and issued a $42.00 price objective on shares of BlackSky Technology in a research report on Friday, February 27th. Finally, Wall Street Zen cut shares of BlackSky Technology from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 16th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, BlackSky Technology has an average rating of “Hold” and a consensus target price of $36.50.

BlackSky Technology Stock Performance

The stock’s 50-day simple moving average is $37.98 and its 200 day simple moving average is $27.71. The company has a debt-to-equity ratio of 2.39, a current ratio of 3.46 and a quick ratio of 3.34. The stock has a market capitalization of $1.33 billion, a P/E ratio of -14.06 and a beta of 2.52.

BlackSky Technology (NYSE:BKSY) last issued its quarterly earnings data 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). The company had revenue of $20.77 million for the quarter, compared to analyst estimates of $27.60 million. BlackSky Technology had a negative return on equity of 74.25% and a negative net margin of 89.07%. Research analysts expect that BlackSky Technology Inc. will post -1.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Quarry LP bought a new stake in shares of BlackSky Technology during the 4th quarter valued at $26,000. Strive Financial Group LLC acquired a new stake in shares of BlackSky Technology during the 4th quarter valued at $26,000. Global Retirement Partners LLC bought a new position in BlackSky Technology in the 4th quarter valued at approximately $28,000. Wexford Capital LP bought a new position in BlackSky Technology in the 3rd quarter valued at approximately $30,000. Finally, IFP Advisors Inc increased its holdings in BlackSky Technology by 57.9% in the third quarter. IFP Advisors Inc now owns 2,253 shares of the company’s stock valued at $45,000 after purchasing an additional 826 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.