BlackSky Technology (NYSE:BKSY) Hits New 52-Week High – Here’s What Happened

Shares of BlackSky Technology Inc. (NYSE:BKSY) hit a new 52-week high during trading on Tuesday . The company traded as high as $36.90 and last traded at $34.2390, with a volume of 173277 shares trading hands. The stock had previously closed at $34.79.

Analysts Set New Price Targets

A number of brokerages have recently commented on BKSY. HC Wainwright reissued a “buy” rating and issued a $42.00 target price on shares of BlackSky Technology in a research note on Friday, February 27th. Jefferies Financial Group began coverage on shares of BlackSky Technology in a research note on Monday, December 22nd. They issued a “buy” rating and a $23.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of BlackSky Technology in a research note on Wednesday, January 21st. Canaccord Genuity Group cut their target price on shares of BlackSky Technology from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Finally, Wall Street Zen raised shares of BlackSky Technology from a “strong sell” rating to a “hold” rating in a research note on Saturday, March 21st. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, BlackSky Technology has an average rating of “Moderate Buy” and a consensus price target of $27.40.

BlackSky Technology Price Performance

The company has a debt-to-equity ratio of 2.04, a quick ratio of 3.37 and a current ratio of 3.48. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of -15.44 and a beta of 2.25. The business’s fifty day simple moving average is $25.12 and its 200 day simple moving average is $22.81.

BlackSky Technology (NYSE:BKSY) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.06. BlackSky Technology had a negative net margin of 65.93% and a negative return on equity of 53.94%. The firm had revenue of $35.21 million for the quarter, compared to analyst estimates of $37.13 million. Research analysts predict that BlackSky Technology Inc. will post -2.28 EPS for the current fiscal year.

Hedge Funds Weigh In On BlackSky Technology

A number of institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in BlackSky Technology by 392.8% in the 4th quarter. Bank of New York Mellon Corp now owns 2,072,543 shares of the company’s stock worth $38,860,000 after buying an additional 1,652,014 shares in the last quarter. Vanguard Group Inc. lifted its holdings in BlackSky Technology by 7.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,697,683 shares of the company’s stock worth $34,208,000 after buying an additional 123,171 shares in the last quarter. State Street Corp lifted its holdings in BlackSky Technology by 63.3% in the 4th quarter. State Street Corp now owns 996,019 shares of the company’s stock worth $18,675,000 after buying an additional 386,207 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in BlackSky Technology in the 4th quarter worth $16,395,000. Finally, Geode Capital Management LLC lifted its holdings in BlackSky Technology by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 718,490 shares of the company’s stock worth $13,474,000 after buying an additional 22,695 shares in the last quarter. Institutional investors and hedge funds 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.