BlackSky Technology (NYSE:BKSY) Shares Up 12.6% – Should You Buy?

Shares of BlackSky Technology Inc. (NYSE:BKSY) were up 12.6% during mid-day trading on Wednesday . The company traded as high as $27.70 and last traded at $28.3340. Approximately 345,024 shares traded hands during trading, a decline of 77% from the average daily volume of 1,500,110 shares. The stock had previously closed at $25.16.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Wall Street Zen raised BlackSky Technology from a “strong sell” rating to a “hold” rating in a report on Saturday, March 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 on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of BlackSky Technology in a research note on Wednesday, January 21st. Canaccord Genuity Group reduced their target price on BlackSky Technology from $27.00 to $26.00 and set a “buy” rating for the company in a report on Friday, February 27th. Finally, HC Wainwright reiterated a “buy” rating and set a $42.00 price target on shares of BlackSky Technology in a research report on Friday, February 27th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $27.40.

BlackSky Technology Stock Performance

The company has a 50-day moving average of $23.46 and a 200 day moving average of $21.90. The company has a quick ratio of 3.37, a current ratio of 3.48 and a debt-to-equity ratio of 2.04. The firm has a market capitalization of $1.06 billion, a PE ratio of -13.43 and a beta of 2.44.

BlackSky Technology (NYSE:BKSY) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.06. The firm had revenue of $35.21 million for the quarter, compared to analysts’ expectations of $37.13 million. BlackSky Technology had a negative return on equity of 53.94% and a negative net margin of 65.93%. Equities research analysts predict that BlackSky Technology Inc. will post -2.28 EPS for the current year.

Hedge Funds Weigh In On BlackSky Technology

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its position in shares of BlackSky Technology by 392.8% during the 4th quarter. Bank of New York Mellon Corp now owns 2,072,543 shares of the company’s stock valued at $38,860,000 after buying an additional 1,652,014 shares in the last quarter. Vanguard Group Inc. grew its position in BlackSky Technology by 7.8% in the third quarter. Vanguard Group Inc. now owns 1,697,683 shares of the company’s stock worth $34,208,000 after acquiring an additional 123,171 shares in the last quarter. State Street Corp grew its position in BlackSky Technology by 63.3% in the fourth quarter. State Street Corp now owns 996,019 shares of the company’s stock worth $18,675,000 after acquiring an additional 386,207 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in BlackSky Technology in the fourth quarter valued at $16,395,000. Finally, Geode Capital Management LLC raised its position in BlackSky Technology by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 718,490 shares of the company’s stock valued at $13,474,000 after purchasing an additional 22,695 shares in the last quarter. Hedge funds and other institutional investors own 27.15% of the company’s stock.

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.