BlackSky Technology (NYSE:BKSY) Reaches New 1-Year High - Still a Buy?

Key Points

• 52-week high: BlackSky stock hit a new 52-week high, trading as high as $41.40 and last at $40.19 (up about 5.9%) versus the prior close of $37.42.
• Analyst sentiment is mixed but leans positive — five Buys and one Sell produce a consensus rating of Moderate Buy with an average price target of $27.40, though some firms (e.g., HC Wainwright) target as high as $42.
• Despite the rally, the company remains unprofitable (quarterly EPS of ($0.19) and a net margin of -65.93%), has a market cap of $1.47B, and has seen significant recent institutional buying from firms like BNY Mellon, Vanguard and State Street.

BlackSky Technology Inc. (NYSE:BKSY - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $41.40 and last traded at $40.19, with a volume of 401140 shares changing hands. The stock had previously closed at $37.42.

Analysts Set New Price Targets

A number of research analysts have issued reports on BKSY shares. Wall Street Zen raised shares of BlackSky Technology from a "strong sell" rating to a "hold" rating in a research report on Saturday, March 21st. Jefferies Financial Group started coverage on shares of BlackSky Technology in a research report on Monday, December 22nd. They set a "buy" rating and a $23.00 price objective on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of BlackSky Technology in a research report on Wednesday, January 21st. Canaccord Genuity Group reduced their price objective on shares of BlackSky Technology from $27.00 to $26.00 and set a "buy" rating on the stock in a research report on Friday, February 27th. Finally, HC Wainwright reissued a "buy" rating and set a $42.00 price objective 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 assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $27.40.

BlackSky Technology Trading Up 5.9%

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's 50-day simple moving average is $26.02 and its 200-day simple moving average is $23.16. The firm has a market capitalization of $1.47 billion, a PE ratio of -18.49 and a beta of 2.25.

BlackSky Technology (NYSE:BKSY - Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.25) by $0.06. The business had revenue of $35.21 million for 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, sell-side analysts expect that BlackSky Technology Inc. will post -1.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp increased its stake in shares of 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 acquiring an additional 1,652,014 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of 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 acquiring an additional 123,171 shares in the last quarter. State Street Corp increased its stake in shares of 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 acquiring an additional 386,207 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in shares of BlackSky Technology in the 4th quarter worth about $16,395,000. Finally, Geode Capital Management LLC increased its stake in shares of 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 acquiring an additional 22,695 shares in the last quarter. 27.15% of the stock is currently owned by institutional investors.

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.

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