BlackSky Technology (NYSE:BKSY) Shares Down 5% - Should You Sell?

BlackSky Technology Inc. (NYSE:BKSY - Get Free Report) shares dropped 5% on Wednesday . The company traded as low as $24.82 and last traded at $24.59. Approximately 605,332 shares were traded during trading, a decline of 46% from the average daily volume of 1,112,629 shares. The stock had previously closed at $25.89.

Analyst Ratings Changes

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

BlackSky Technology Stock Performance

The company has a market capitalization of $748.21 million, a price-to-earnings ratio of -9.20 and a beta of 2.07. The stock has a 50-day moving average price of $15.81 and a 200-day moving average price of $12.71. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.79 and a quick ratio of 3.79.

BlackSky Technology (NYSE:BKSY - Get Free Report) last issued 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 firm had revenue of $29.54 million for the quarter, compared to the consensus estimate of $27.20 million. As a group, analysts forecast that BlackSky Technology Inc. will post -2.28 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Nuveen LLC acquired a new position in BlackSky Technology during the 1st quarter valued at about $9,582,000. Mithril II GP LP acquired a new position in BlackSky Technology during the 4th quarter valued at about $11,116,000. Goldman Sachs Group Inc. boosted 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 during the last quarter. Geode Capital Management LLC boosted its stake in BlackSky Technology by 94.2% during the 4th quarter. Geode Capital Management LLC now owns 551,444 shares of the company's stock valued at $5,951,000 after purchasing an additional 267,427 shares during the last quarter. Finally, Trexquant Investment LP boosted its stake in shares of BlackSky Technology by 21.4% in the 1st quarter. Trexquant Investment LP now owns 366,071 shares of the company's stock worth $2,830,000 after buying an additional 64,481 shares during the last quarter. 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.