BlackSky Technology (NYSE:BKSY) Reaches New 52-Week High - Still a Buy?

Key Points

• BlackSky's shares hit a new 52-week high, trading intraday as high as $36.90 and last at $34.24 on volume of about 173,277 shares.
• Analyst coverage is mixed but tilted positive—five Buy vs. one Sell—giving a consensus rating of Moderate Buy with a $27.40 average price target (individual targets range roughly $23 to $42).
• Fundamentals remain challenged: Q4 EPS of ($0.19) beat estimates while revenue of $35.21M missed, and the company shows large negative margins and ROE; market cap is about $1.21B and analysts forecast ~-2.28 EPS for the year.

BlackSky Technology Inc. (NYSE:BKSY - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $36.90 and last traded at $34.2390, with a volume of 173277 shares trading hands. The stock had previously closed at $34.79.

Analyst Ratings Changes

A number of research firms recently issued reports on BKSY. HC Wainwright reissued a "buy" rating and issued a $42.00 price target on shares of BlackSky Technology in a research note on Friday, February 27th. Weiss Ratings restated a "sell (d-)" rating on shares of BlackSky Technology in a report on Wednesday, January 21st. Canaccord Genuity Group decreased their price objective on BlackSky Technology from $27.00 to $26.00 and set a "buy" rating on the stock in a report on Friday, February 27th. Wall Street Zen upgraded BlackSky Technology from a "strong sell" rating to a "hold" rating in a report on Saturday, March 21st. Finally, Jefferies Financial Group assumed coverage on BlackSky Technology in a report on Monday, December 22nd. They issued a "buy" rating and a $23.00 price objective on the stock. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $27.40.

BlackSky Technology Stock Down 6.4%

The business has a fifty day simple moving average of $24.71 and a two-hundred day simple moving average of $22.65. 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 company has a market cap of $1.21 billion, a PE ratio of -15.15 and a beta of 2.25.

BlackSky Technology (NYSE:BKSY - Get Free Report) last announced its quarterly earnings data 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. BlackSky Technology had a negative return on equity of 53.94% and a negative net margin of 65.93%.The company had revenue of $35.21 million for the quarter, compared to analyst estimates of $37.13 million. As a group, equities research analysts predict that BlackSky Technology Inc. will post -2.28 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BKSY. Quarry LP purchased a new position in shares of BlackSky Technology during the 4th quarter worth $26,000. Strive Financial Group LLC purchased a new position in shares of BlackSky Technology during the 4th quarter worth $26,000. Global Retirement Partners LLC purchased a new position in shares of BlackSky Technology during the 4th quarter worth $28,000. Wexford Capital LP purchased a new position in shares of BlackSky Technology during the 3rd quarter worth $30,000. Finally, IFP Advisors Inc raised its holdings in shares of BlackSky Technology by 57.9% during the 3rd quarter. IFP Advisors Inc now owns 2,253 shares of the company's stock worth $45,000 after acquiring an additional 826 shares during the period. Hedge funds and other institutional investors own 27.15% of the company's stock.

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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