BlackSky Technology (NYSE:BKSY) Stock Price Down 5.5% - Time to Sell?

Shares of BlackSky Technology Inc. (NYSE:BKSY - Get Free Report) fell 5.5% during mid-day trading on Friday . The company traded as low as $19.42 and last traded at $19.35. 1,609,137 shares changed hands during trading, an increase of 57% from the average session volume of 1,022,166 shares. The stock had previously closed at $20.48.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BKSY. Canaccord Genuity Group boosted their price objective on shares of BlackSky Technology from $14.00 to $20.00 and gave the company a "buy" rating in a research report on Thursday. HC Wainwright reiterated a "buy" rating and issued a $20.00 price target on shares of BlackSky Technology in a research note on Friday, March 7th. Finally, Benchmark increased their price target on BlackSky Technology from $17.00 to $18.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $21.67.

BlackSky Technology Stock Up 6.1%

The stock has a 50-day moving average price of $11.79 and a two-hundred day moving average price of $11.54. The company has a current ratio of 3.79, a quick ratio of 3.79 and a debt-to-equity ratio of 1.26.

BlackSky Technology (NYSE:BKSY - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.42) EPS 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 firm had revenue of $29.54 million during the quarter, compared to the consensus estimate of $27.20 million. Analysts anticipate that BlackSky Technology Inc. will post -2.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BKSY. Rhumbline Advisers boosted its position in shares of BlackSky Technology by 98.5% during the fourth quarter. Rhumbline Advisers now owns 31,446 shares of the company's stock valued at $339,000 after buying an additional 15,607 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of BlackSky Technology by 89.1% in 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 period. Oppenheimer & Co. Inc. purchased a new stake in shares of BlackSky Technology in the fourth quarter valued at approximately $276,000. SBI Securities Co. Ltd. purchased a new stake in shares of BlackSky Technology in the fourth quarter valued at approximately $84,000. Finally, Charles Schwab Investment Management Inc. raised its stake 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 buying an additional 93,715 shares in the last quarter. Hedge funds and other institutional investors own 27.15% of the company's stock.

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.