BlackSky Technology (NYSE:BKSY) Trading 7.7% Higher – Here’s What Happened

Shares of BlackSky Technology Inc. (NYSE:BKSY) traded up 7.7% on Tuesday . The company traded as high as $25.97 and last traded at $25.8550. 801,563 shares were traded during trading, a decline of 45% from the average session volume of 1,449,506 shares. The stock had previously closed at $24.00.

Wall Street Analyst Weigh In

BKSY has been the topic of a number of recent research reports. Jefferies Financial Group assumed coverage on BlackSky Technology in a report on Monday, December 22nd. They set a “buy” rating and a $23.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BlackSky Technology in a report on Wednesday, January 21st. Canaccord Genuity Group dropped their target price on shares of BlackSky Technology from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Finally, HC Wainwright restated a “buy” rating and issued a $42.00 price target on shares of BlackSky Technology in a research report on Friday, February 27th. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $27.40.

BlackSky Technology Stock Up 8.2%

The stock has a market cap of $934.48 million, a price-to-earnings ratio of -12.02 and a beta of 2.44. The firm has a 50 day simple moving average of $23.61 and a two-hundred day simple moving average of $21.22. The company has a debt-to-equity ratio of 2.08, a current ratio of 3.89 and a quick ratio of 3.89.

BlackSky Technology (NYSE:BKSY) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.06. BlackSky Technology had a negative return on equity of 54.86% and a negative net margin of 65.93%.The company had revenue of $35.21 million during the quarter, compared to the consensus estimate of $37.13 million. As a group, sell-side analysts expect that BlackSky Technology Inc. will post -2.28 EPS for the current year.

Institutional Trading of BlackSky Technology

Several hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC bought a new position in shares of BlackSky Technology during the first quarter worth approximately $103,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in 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 valued at $117,000 after buying an additional 1,015 shares in the last quarter. Goldman Sachs Group Inc. increased its position in BlackSky Technology by 343.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 557,729 shares of the company’s stock worth $4,311,000 after buying an additional 432,023 shares during the period. Geode Capital Management LLC lifted its holdings in shares of BlackSky Technology by 7.3% during the second 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 in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted its holdings in shares of BlackSky Technology by 32.3% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 6,678 shares of the company’s stock worth $137,000 after buying an additional 1,629 shares in the last quarter. 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.