BlackSky Technology (NYSE:BKSY) Stock Price Down 7.1% – Should You Sell?

BlackSky Technology Inc. (NYSE:BKSY)’s share price traded down 7.1% during trading on Thursday . The company traded as low as $26.34 and last traded at $25.9150. Approximately 246,153 shares were traded during trading, a decline of 86% from the average session volume of 1,758,203 shares. The stock had previously closed at $27.90.

Analysts Set New Price Targets

BKSY has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of BlackSky Technology from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of BlackSky Technology in a report on Friday, July 17th. Jefferies Financial Group raised shares of BlackSky Technology to a “hold” rating in a research report on Wednesday, June 10th. Finally, Clear Str raised shares of BlackSky Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, BlackSky Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.33.

BlackSky Technology Price Performance

The company has a 50 day moving average of $26.31 and a 200 day moving average of $29.55. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -15.25 and a beta of 2.61. The company has a quick ratio of 5.72, a current ratio of 5.83 and a debt-to-equity ratio of 0.94.

BlackSky Technology (NYSE:BKSY) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.16). BlackSky Technology had a negative net margin of 61.24% and a negative return on equity of 51.24%. The business had revenue of $33.32 million during the quarter, compared to analysts’ expectations of $30.72 million. As a group, equities research analysts forecast that BlackSky Technology Inc. will post -1.27 EPS for the current fiscal year.

Hedge Funds Weigh In On BlackSky Technology

A number of large investors have recently modified their holdings of the company. Jasper Ridge Partners L.P. purchased a new position in BlackSky Technology in the second quarter valued at approximately $2,087,000. AWM Investment Company Inc. purchased a new stake in shares of BlackSky Technology during the second quarter worth about $33,504,000. Tema ETFs LLC increased its position in shares of BlackSky Technology by 110,505.8% during the second quarter. Tema ETFs LLC now owns 1,446,724 shares of the company’s stock worth $40,393,000 after acquiring an additional 1,445,416 shares during the last quarter. FNY Investment Advisers LLC lifted its stake in shares of BlackSky Technology by 323.0% in the second quarter. FNY Investment Advisers LLC now owns 21,891 shares of the company’s stock worth $611,000 after acquiring an additional 16,716 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of BlackSky Technology by 156.1% in the first quarter. Bank of America Corp DE now owns 412,891 shares of the company’s stock worth $10,388,000 after acquiring an additional 251,638 shares in the last quarter. 27.15% of the stock is currently owned by hedge funds and other 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.