BlackSky Technology (NYSE:BKSY) Reaches New 1-Year High – Time to Buy?

BlackSky Technology Inc. (NYSE:BKSY) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $45.50 and last traded at $45.15, with a volume of 2644877 shares traded. The stock had previously closed at $43.00.

Wall Street Analysts Forecast Growth

BKSY has been the subject of a number of research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of BlackSky Technology in a research report on Monday, April 20th. Canaccord Genuity Group dropped their price objective on BlackSky Technology from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, February 27th. HC Wainwright restated a “buy” rating and issued a $42.00 price objective on shares of BlackSky Technology in a report on Friday, February 27th. Finally, Wall Street Zen downgraded BlackSky Technology from a “hold” rating to a “strong sell” rating in a report on Saturday. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, BlackSky Technology currently has an average rating of “Moderate Buy” and an average price target of $29.75.

BlackSky Technology Stock Up 5.0%

The company has a quick ratio of 3.34, a current ratio of 3.46 and a debt-to-equity ratio of 2.39. The company has a market capitalization of $1.68 billion, a P/E ratio of -17.71 and a beta of 2.44. The firm has a 50-day moving average price of $32.37 and a two-hundred day moving average price of $24.76.

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 the consensus estimate of ($0.37) by ($0.45). BlackSky Technology had a negative net margin of 89.07% and a negative return on equity of 74.25%. The business had revenue of $20.77 million during the quarter, compared to the consensus estimate of $27.60 million. Equities research analysts anticipate that BlackSky Technology Inc. will post -1.32 EPS for the current fiscal year.

Institutional Investors Weigh In On BlackSky Technology

Several hedge funds have recently modified their holdings of the business. Arax Advisory Partners boosted its position in shares of BlackSky Technology by 15.2% in the fourth quarter. Arax Advisory Partners now owns 5,985 shares of the company’s stock valued at $112,000 after acquiring an additional 791 shares during the period. IFP Advisors Inc boosted its position in shares of 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 acquiring an additional 826 shares during the period. Legal & General Group Plc boosted its position in shares of BlackSky Technology by 40.5% in the second quarter. Legal & General Group Plc now owns 3,118 shares of the company’s stock valued at $64,000 after acquiring an additional 899 shares during the period. Concurrent Investment Advisors LLC boosted its position in shares of BlackSky Technology by 5.6% in the third quarter. Concurrent Investment Advisors LLC now owns 19,042 shares of the company’s stock valued at $384,000 after acquiring an additional 1,010 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of BlackSky Technology by 7.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,174 shares of the company’s stock valued at $117,000 after acquiring an additional 1,015 shares during the period. 27.15% of the stock is owned by institutional investors.

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.