BlackSky Technology (NYSE:BKSY) Shares Gap Up - Should You Buy?

Key Points

• Shares gapped up: BKSY jumped from a $21.91 close to a $23.29 open and last traded around $23.84 on a volume of about 236,533 shares, giving a market cap near $875 million.
• Analyst sentiment leans positive but mixed: Five analysts rate the stock as Buy and one as Sell, resulting in a MarketBeat consensus of "Moderate Buy" with a consensus price target of $27.40 (individual targets span roughly $23–$42).
• Earnings beat on EPS but company remains unprofitable: BlackSky reported Q4 EPS of -$0.19 versus -$0.25 expected and revenue of $35.2M (below the $37.1M estimate), while showing negative margins and an expected -2.28 EPS for the year; institutional investors have been increasing positions.

BlackSky Technology Inc. (NYSE:BKSY - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $21.91, but opened at $23.29. BlackSky Technology shares last traded at $23.8390, with a volume of 236,533 shares changing hands.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BKSY shares. Weiss Ratings restated a "sell (d-)" rating on shares of BlackSky Technology in a report on Wednesday, January 21st. HC Wainwright reiterated a "buy" rating and set a $42.00 price target on shares of BlackSky Technology in a report on Friday, February 27th. Wall Street Zen upgraded shares of BlackSky Technology from a "strong sell" rating to a "hold" rating in a research note on Saturday, March 21st. Canaccord Genuity Group decreased their price objective on shares of BlackSky Technology from $27.00 to $26.00 and set a "buy" rating for the company in a report on Friday, February 27th. Finally, Jefferies Financial Group assumed coverage on shares of BlackSky Technology in a research note on Monday, December 22nd. They issued a "buy" rating and a $23.00 target price on the stock. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $27.40.

BlackSky Technology Stock Performance

The firm has a fifty day simple moving average of $23.51 and a 200 day simple moving average of $21.85. The company has a current ratio of 3.48, a quick ratio of 3.37 and a debt-to-equity ratio of 2.04. The stock has a market cap of $875.00 million, a price-to-earnings ratio of -11.09 and a beta of 2.44.

BlackSky Technology (NYSE:BKSY - Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.06. The company had revenue of $35.21 million for the quarter, compared to analyst estimates of $37.13 million. BlackSky Technology had a negative return on equity of 53.94% and a negative net margin of 65.93%. As a group, sell-side analysts expect that BlackSky Technology Inc. will post -2.28 earnings per share for the current year.

Institutional Investors Weigh In On BlackSky Technology

Several institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its holdings in shares of BlackSky Technology by 392.8% during the 4th quarter. Bank of New York Mellon Corp now owns 2,072,543 shares of the company's stock worth $38,860,000 after acquiring an additional 1,652,014 shares during the period. Vanguard Group Inc. increased its stake in BlackSky Technology by 7.8% in the third quarter. Vanguard Group Inc. now owns 1,697,683 shares of the company's stock valued at $34,208,000 after acquiring an additional 123,171 shares during the period. State Street Corp increased its stake in BlackSky Technology by 63.3% in the fourth quarter. State Street Corp now owns 996,019 shares of the company's stock valued at $18,675,000 after acquiring an additional 386,207 shares during the period. Daiwa Securities Group Inc. acquired a new position in BlackSky Technology in the fourth quarter worth about $16,395,000. Finally, Geode Capital Management LLC raised its position in BlackSky Technology by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 718,490 shares of the company's stock worth $13,474,000 after purchasing an additional 22,695 shares in the last quarter. Institutional investors own 27.15% of the company's stock.

BlackSky Technology Company Profile

BlackSky Technology, Inc operates Earth observation and geospatial intelligence services through a constellation of small satellites and an analytics platform. The company collects and processes high-revisit satellite imagery, enabling near-real-time monitoring of global events and locations. Clients across government, defense and commercial sectors leverage BlackSky’s imagery and data to support decision-making in areas such as supply chain monitoring, humanitarian aid, infrastructure management and security operations.

Founded in 2014 as part of Spaceflight Industries, BlackSky has grown its satellite constellation and analytics capabilities to deliver satellite imagery with high revisit rates and rapid tasking.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.