BlackSky Technology (NYSE:BKSY) Stock Price Up 8.5% – What’s Next?

Shares of BlackSky Technology Inc. (NYSE:BKSY) rose 8.5% during trading on Thursday . The stock traded as high as $35.95 and last traded at $35.90. Approximately 785,275 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 1,654,078 shares. The stock had previously closed at $33.08.

Wall Street Analyst Weigh In

BKSY has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of BlackSky Technology in a research report on Wednesday, January 21st. Jefferies Financial Group started coverage on shares of BlackSky Technology in a research report on Monday, December 22nd. They issued a “buy” rating and a $23.00 target price for the company. Wall Street Zen raised shares of BlackSky Technology from a “strong sell” rating to a “hold” rating in a report on Saturday, March 21st. Canaccord Genuity Group decreased their price objective on shares of 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 reaffirmed a “buy” rating and set a $42.00 price objective on shares of BlackSky Technology in a report on Friday, February 27th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, BlackSky Technology presently has a consensus rating of “Moderate Buy” and an average price target of $27.40.

BlackSky Technology Trading Up 13.2%

The company has a current ratio of 3.48, a quick ratio of 3.37 and a debt-to-equity ratio of 2.04. The business’s fifty day simple moving average is $25.12 and its two-hundred day simple moving average is $22.81. The stock has a market capitalization of $1.38 billion, a P/E ratio of -17.46 and a beta of 2.25.

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

Hedge Funds Weigh In On BlackSky Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in BKSY. AQR Capital Management LLC bought a new position in shares of BlackSky Technology during the 1st quarter worth about $103,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of BlackSky Technology by 7.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,174 shares of the company’s stock worth $117,000 after acquiring an additional 1,015 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of 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 acquiring an additional 432,023 shares during the period. Legal & General Group Plc lifted its holdings in shares of BlackSky Technology by 40.5% during the 2nd quarter. Legal & General Group Plc now owns 3,118 shares of the company’s stock worth $64,000 after acquiring an additional 899 shares during the period. Finally, Rhumbline Advisers lifted its holdings in shares of BlackSky Technology by 11.1% during the 2nd quarter. Rhumbline Advisers now owns 39,229 shares of the company’s stock worth $807,000 after acquiring an additional 3,934 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.