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

BlackSky Technology Inc. (NYSE:BKSY - Get Free Report)'s stock price gapped down prior to trading on Friday . The stock had previously closed at $28.29, but opened at $22.26. BlackSky Technology shares last traded at $23.83, with a volume of 2,803,664 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Benchmark boosted their target price on BlackSky Technology from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. HC Wainwright 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 Monday. 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, July 16th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $24.33.

BlackSky Technology Trading Down 3.8%

The stock has a market cap of $721.62 million, a PE ratio of -8.87 and a beta of 2.07. The company has a debt-to-equity ratio of 1.26, a quick ratio of 3.79 and a current ratio of 3.79. The stock has a fifty day moving average price of $15.81 and a 200 day moving average price of $12.72.

BlackSky Technology (NYSE:BKSY - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.42) EPS for the quarter, topping analysts' consensus estimates of ($0.47) by $0.05. The firm had revenue of $29.54 million during the quarter, compared to analysts' expectations of $27.20 million. BlackSky Technology had a negative return on equity of 45.63% and a negative net margin of 50.30%. Equities analysts expect that BlackSky Technology Inc. will post -2.28 EPS for the current year.

Institutional Investors Weigh In On BlackSky Technology

Hedge funds and other institutional investors have recently modified their holdings of the business. Nuveen LLC bought a new stake in BlackSky Technology during the 1st quarter valued at $9,582,000. Mithril II GP LP bought a new stake in BlackSky Technology during the 4th quarter valued at $11,116,000. Goldman Sachs Group Inc. raised its position 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. Geode Capital Management LLC raised its position 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 in the last quarter. Finally, Trexquant Investment LP raised its position in BlackSky Technology by 21.4% during the 1st quarter. Trexquant Investment LP now owns 366,071 shares of the company's stock valued at $2,830,000 after purchasing an additional 64,481 shares in the last quarter. 27.15% of the stock is currently owned by hedge funds and other 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.