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

BlackSky Technology Inc. (NYSE:BKSY - Get Free Report) shares hit a new 52-week high on Monday . The company traded as high as $25.38 and last traded at $24.61, with a volume of 840380 shares changing hands. The stock had previously closed at $22.74.

Wall Street Analysts Forecast Growth

BKSY has been the topic of a number of research reports. Canaccord Genuity Group increased their price objective on BlackSky Technology from $14.00 to $20.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. Benchmark raised their target price on BlackSky Technology from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Finally, HC Wainwright raised their target price on BlackSky Technology from $20.00 to $28.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $23.00.

BlackSky Technology Trading Up 8.1%

The company has a quick ratio of 3.79, a current ratio of 3.79 and a debt-to-equity ratio of 1.26. The firm has a 50 day moving average price of $14.22 and a two-hundred day moving average price of $12.21. The company has a market cap of $778.29 million, a price-to-earnings ratio of -9.49 and a beta of 2.07.

BlackSky Technology (NYSE:BKSY - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.42) earnings per share for the quarter, beating analysts' consensus estimates of ($0.47) by $0.05. BlackSky Technology had a negative return on equity of 45.63% and a negative net margin of 50.30%. The company had revenue of $29.54 million for the quarter, compared to analyst estimates of $27.20 million. As a group, equities analysts forecast that BlackSky Technology Inc. will post -2.28 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nuveen LLC purchased a new stake in shares of BlackSky Technology in the first quarter worth $9,582,000. Mithril II GP LP purchased a new stake in shares of BlackSky Technology during the fourth quarter valued at $11,116,000. Goldman Sachs Group Inc. boosted its position in shares of BlackSky Technology by 343.7% during the first quarter. Goldman Sachs Group Inc. now owns 557,729 shares of the company's stock valued at $4,311,000 after buying an additional 432,023 shares during the last quarter. Invesco Ltd. purchased a new stake in shares of BlackSky Technology during the fourth quarter valued at $3,868,000. Finally, Trexquant Investment LP boosted its position in shares of BlackSky Technology by 2,309.8% during the fourth quarter. Trexquant Investment LP now owns 301,590 shares of the company's stock valued at $3,254,000 after buying an additional 289,075 shares during the last quarter. Institutional investors own 27.15% of the company's stock.

BlackSky Technology Company Profile

BlackSky Technology Inc provides geospatial intelligence, imagery and related data analytic products and services, and mission systems that include the development, integration, and operation of satellite and ground systems for government and commercial customers in North America, the Middle East, the Asia Pacific, and internationally.

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