BlackSky Technology (NYSE:BKSY) Shares Down 9.3% – Time to Sell?

Shares of BlackSky Technology Inc. (NYSE:BKSY) traded down 9.3% during trading on Thursday . The stock traded as low as $22.09 and last traded at $22.0440. 723,535 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 1,886,716 shares. The stock had previously closed at $24.30.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BKSY shares. Wall Street Zen cut shares of BlackSky Technology from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BlackSky Technology in a report on Monday, April 20th. Finally, Jefferies Financial Group upgraded shares of BlackSky Technology to a “hold” rating in a research note on Wednesday, June 10th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $36.50.

BlackSky Technology Price Performance

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 company has a 50 day moving average price of $34.19 and a 200 day moving average price of $29.31. The firm has a market cap of $826.40 million, a PE ratio of -8.73 and a beta of 2.59.

BlackSky Technology (NYSE:BKSY) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.45). The firm had revenue of $20.77 million during the quarter, compared to analysts’ expectations of $27.60 million. BlackSky Technology had a negative net margin of 89.07% and a negative return on equity of 74.25%. Sell-side analysts expect that BlackSky Technology Inc. will post -1.32 EPS for the current fiscal year.

Institutional Trading of BlackSky Technology

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP acquired a new stake in BlackSky Technology in the fourth quarter valued at about $26,000. Strive Financial Group LLC acquired a new position in BlackSky Technology during the 4th quarter worth approximately $26,000. Global Retirement Partners LLC purchased a new position in shares of BlackSky Technology during the 4th quarter worth approximately $28,000. Wexford Capital LP purchased a new position in shares of BlackSky Technology during the 3rd quarter worth approximately $30,000. Finally, IFP Advisors Inc lifted its holdings in shares of BlackSky Technology by 57.9% in the 3rd quarter. IFP Advisors Inc now owns 2,253 shares of the company’s stock valued at $45,000 after buying an additional 826 shares during the period. 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.