BlackSky Technology (NYSE:BKSY) Sets New 12-Month High - Here's What Happened

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BKSY. Canaccord Genuity Group raised their price objective on BlackSky Technology from $20.00 to $28.00 and gave the company a "buy" rating in a research note on Wednesday. HC Wainwright raised their price objective on BlackSky Technology from $20.00 to $28.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Finally, Benchmark raised their price objective on BlackSky Technology from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $24.33.

BlackSky Technology Stock Up 9.2%

The company has a debt-to-equity ratio of 1.26, a current ratio of 3.79 and a quick ratio of 3.79. The company has a market capitalization of $897.49 million, a P/E ratio of -11.03 and a beta of 2.07. The company has a 50 day moving average of $15.23 and a 200-day moving average of $12.49.

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

Institutional Trading of BlackSky Technology

Several large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in shares of BlackSky Technology by 89.1% during the fourth quarter. Bank of New York Mellon Corp now owns 56,298 shares of the company's stock valued at $607,000 after purchasing an additional 26,528 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in BlackSky Technology by 98.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 189,157 shares of the company's stock worth $2,041,000 after purchasing an additional 93,715 shares during the period. Farther Finance Advisors LLC bought a new stake in BlackSky Technology in the 4th quarter worth approximately $44,000. Corebridge Financial Inc. grew its position in BlackSky Technology by 73.0% in the 4th quarter. Corebridge Financial Inc. now owns 12,481 shares of the company's stock worth $135,000 after purchasing an additional 5,266 shares during the period. Finally, CIBC Private Wealth Group LLC bought a new stake in BlackSky Technology in the 4th quarter worth approximately $76,000. 27.15% of the stock is owned by institutional investors.

About BlackSky Technology

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.