BlackSky Technology Inc. (NYSE:BKSY - Get Free Report)'s share price dropped 5% on Wednesday . The company traded as low as $24.82 and last traded at $24.59. Approximately 605,332 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 1,112,629 shares. The stock had previously closed at $25.89.
Wall Street Analysts Forecast Growth
BKSY has been the topic of a number of recent research reports. Benchmark raised their price objective on shares of BlackSky Technology from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Canaccord Genuity Group raised their price objective on shares of BlackSky Technology from $20.00 to $28.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, HC Wainwright raised their price objective on shares of BlackSky Technology from $20.00 to $28.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, BlackSky Technology presently has a consensus rating of "Buy" and a consensus target price of $24.33.
Get Our Latest Analysis on BKSY
BlackSky Technology Price Performance
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 business's 50-day moving average is $15.57 and its two-hundred day moving average is $12.60. The company has a market capitalization of $897.49 million, a P/E ratio of -11.03 and a beta of 2.07.
BlackSky Technology (NYSE:BKSY - Get Free Report) last released its quarterly 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 net margin of 50.30% and a negative return on equity of 45.63%. The company had revenue of $29.54 million for the quarter, compared to analyst estimates of $27.20 million. As a group, analysts predict that BlackSky Technology Inc. will post -2.28 earnings per share for the current year.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in BKSY. Bank of New York Mellon Corp lifted its position 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 in the last quarter. Charles Schwab Investment Management Inc. raised its position in BlackSky Technology by 98.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 189,157 shares of the company's stock worth $2,041,000 after acquiring an additional 93,715 shares during the period. Farther Finance Advisors LLC bought a new stake in BlackSky Technology in the fourth quarter worth about $44,000. Corebridge Financial Inc. raised its position in BlackSky Technology by 73.0% in the fourth quarter. Corebridge Financial Inc. now owns 12,481 shares of the company's stock worth $135,000 after acquiring an additional 5,266 shares during the period. Finally, CIBC Private Wealth Group LLC bought a new stake in BlackSky Technology in the fourth quarter worth about $76,000. 27.15% of the stock is owned by institutional investors.
About BlackSky Technology
(
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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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