BlackSky Technology Inc. (NYSE:BKSY – Get Free Report)’s stock price dropped 9.1% during mid-day trading on Tuesday . The stock traded as low as $32.02 and last traded at $31.1650. Approximately 660,939 shares traded hands during trading, a decline of 65% from the average daily volume of 1,888,584 shares. The stock had previously closed at $34.28.
Analyst Ratings Changes
A number of equities analysts recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BlackSky Technology in a research note on Monday, April 20th. Jefferies Financial Group lowered shares of BlackSky Technology from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a research note on Monday, June 1st. Canaccord Genuity Group lowered their target price on shares of BlackSky Technology from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Wall Street Zen cut shares of BlackSky Technology from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 16th. Finally, HC Wainwright reissued a “buy” rating and issued a $42.00 price objective on shares of BlackSky Technology in a research report on Friday, February 27th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $36.50.
Get Our Latest Stock Analysis on BKSY
BlackSky Technology Stock Performance
BlackSky Technology (NYSE:BKSY – Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.82) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.45). BlackSky Technology had a negative return on equity of 74.25% and a negative net margin of 89.07%.The business had revenue of $20.77 million for the quarter, compared to the consensus estimate of $27.60 million. As a group, analysts anticipate that BlackSky Technology Inc. will post -1.32 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP purchased a new stake in BlackSky Technology during the fourth quarter valued at about $26,000. Strive Financial Group LLC purchased a new position in shares of BlackSky Technology in the fourth quarter valued at $26,000. Wexford Capital LP purchased a new stake in BlackSky Technology during the 3rd quarter worth about $30,000. Global Retirement Partners LLC purchased a new position in BlackSky Technology during the 4th quarter valued at about $28,000. Finally, Fifth Third Bancorp bought a new position in shares of BlackSky Technology in the first quarter valued at approximately $48,000. Institutional investors own 27.15% of the company’s stock.
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.
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