BlackSky Technology (NYSE:BKSY) Shares Down 5.5% - What's Next?

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

Analyst Upgrades and Downgrades

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

BlackSky Technology Stock 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 stock's fifty day simple moving average is $11.26 and its 200-day simple moving average is $11.40. The company has a market capitalization of $594.39 million, a PE ratio of -7.34 and a beta of 1.85.

BlackSky Technology (NYSE:BKSY - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.42) earnings per share for the quarter, topping 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 business had revenue of $29.54 million during the quarter, compared to analysts' expectations of $27.20 million. On average, research analysts predict that BlackSky Technology Inc. will post -2.28 earnings per share for the current fiscal year.

Institutional Trading of BlackSky Technology

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

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.

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