BlackSky Technology (NYSE:BKSY) Shares Gap Down - Time to Sell?

BlackSky Technology Inc. (NYSE:BKSY - Get Free Report)'s share 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.

Wall Street Analyst Weigh In

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

BlackSky Technology Price Performance

The stock has a market cap of $725.32 million, a price-to-earnings ratio of -8.98 and a beta of 2.07. The company has a 50 day simple moving average of $15.57 and a 200-day simple moving average of $12.60. 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 issued its earnings results on Thursday, May 8th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.47) by $0.05. The company had revenue of $29.54 million for the quarter, compared to analysts' expectations of $27.20 million. BlackSky Technology had a negative net margin of 50.30% and a negative return on equity of 45.63%. Research analysts expect that BlackSky Technology Inc. will post -2.28 EPS for the current year.

Institutional Investors Weigh In On BlackSky Technology

Hedge funds have recently modified their holdings of the company. Nuveen LLC bought a new stake in shares of BlackSky Technology in the first quarter worth $9,582,000. Mithril II GP LP acquired a new position in BlackSky Technology during the 4th quarter worth about $11,116,000. Goldman Sachs Group Inc. lifted its holdings in BlackSky Technology by 343.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 557,729 shares of the company's stock worth $4,311,000 after buying an additional 432,023 shares during the period. Invesco Ltd. bought a new stake in shares of BlackSky Technology in the 4th quarter valued at about $3,868,000. Finally, Trexquant Investment LP increased its stake in shares of BlackSky Technology by 2,309.8% in the fourth quarter. Trexquant Investment LP now owns 301,590 shares of the company's stock valued at $3,254,000 after buying an additional 289,075 shares during the period. 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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