BlackSky Technology (NYSE:BKSY) Sees Large Volume Increase - Should You Buy?

BlackSky Technology Inc. (NYSE:BKSY - Get Free Report) saw an uptick in trading volume on Monday . 1,952,732 shares traded hands during mid-day trading, an increase of 101% from the previous session's volume of 969,336 shares.The stock last traded at $16.19 and had previously closed at $14.22.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BKSY. Benchmark raised their target price on shares of BlackSky Technology from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Canaccord Genuity Group raised their target price on shares of BlackSky Technology from $14.00 to $20.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $20.00 target price on shares of BlackSky Technology in a research report on Friday, March 7th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $21.67.

BlackSky Technology Stock Performance

The company has a current ratio of 3.79, a quick ratio of 3.79 and a debt-to-equity ratio of 1.26. The company's 50 day moving average is $11.26 and its 200-day moving average is $11.40. The company has a market capitalization of $650.00 million, a P/E ratio of -7.99 and a beta of 1.85.

BlackSky Technology (NYSE:BKSY - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $29.54 million during the quarter, compared to analyst estimates of $27.20 million. BlackSky Technology had a negative net margin of 50.30% and a negative return on equity of 45.63%. Equities analysts anticipate that BlackSky Technology Inc. will post -2.28 EPS for the current fiscal year.

Institutional Trading of BlackSky Technology

A number of institutional investors and hedge funds have recently bought and sold shares of BKSY. Nuveen LLC bought a new stake in BlackSky Technology during the 1st quarter valued at about $9,582,000. Mithril II GP LP bought a new stake in BlackSky Technology during the 4th quarter valued at about $11,116,000. Goldman Sachs Group Inc. increased its stake in BlackSky Technology by 343.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 557,729 shares of the company's stock valued at $4,311,000 after purchasing an additional 432,023 shares in the last quarter. Invesco Ltd. bought a new stake in BlackSky Technology during the 4th quarter valued at about $3,868,000. Finally, Trexquant Investment LP grew its stake in shares of BlackSky Technology by 2,309.8% in the fourth quarter. Trexquant Investment LP now owns 301,590 shares of the company's stock worth $3,254,000 after acquiring an additional 289,075 shares during the period. 27.15% of the stock is currently owned by institutional investors.

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.