BlackSky Technology (NYSE:BKSY) Shares Up 10.8% - Should You Buy?

Key Points

• Shares jumped 10.8% to about $35 on Thursday, but trading volume was only ~394,000 shares (roughly 77% below the average session volume).
• Analysts are mixed but the consensus rating is a "Moderate Buy" with an average target of $27.40 (five Buys, one Sell); notable price targets range from Canaccord's $26 to HC Wainwright's $42.
• In the latest quarter BlackSky beat EPS estimates (‑$0.19 vs. ‑$0.25) but missed revenue ($35.21M vs. $37.13M); the company remains unprofitable with negative margins and ROE.

BlackSky Technology Inc. (NYSE:BKSY - Get Free Report)'s share price shot up 10.8% during trading on Thursday . The company traded as high as $34.20 and last traded at $35.0930. 394,034 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 1,680,079 shares. The stock had previously closed at $31.66.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BKSY. Canaccord Genuity Group dropped their price objective on BlackSky Technology from $27.00 to $26.00 and set a "buy" rating on the stock in a research note on Friday, February 27th. Wall Street Zen upgraded BlackSky Technology from a "strong sell" rating to a "hold" rating in a research note on Saturday, March 21st. Weiss Ratings restated a "sell (d-)" rating on shares of BlackSky Technology in a research note on Monday, April 20th. Finally, HC Wainwright restated a "buy" rating and set a $42.00 price target on shares of BlackSky Technology in a research note on Friday, February 27th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $27.40.

BlackSky Technology Stock Performance

The company has a market capitalization of $1.32 billion, a P/E ratio of -16.63 and a beta of 2.25. The firm has a 50 day moving average price of $27.97 and a two-hundred day moving average price of $23.54. The company has a debt-to-equity ratio of 2.04, a quick ratio of 3.37 and a current ratio of 3.48.

BlackSky Technology (NYSE:BKSY - Get Free Report) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.06. BlackSky Technology had a negative return on equity of 53.94% and a negative net margin of 65.93%.The company had revenue of $35.21 million for the quarter, compared to analyst estimates of $37.13 million. On average, research analysts expect that BlackSky Technology Inc. will post -1.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP bought a new stake in shares of BlackSky Technology during the 4th quarter valued at $26,000. Strive Financial Group LLC bought a new stake in shares of BlackSky Technology in the 4th quarter valued at $26,000. Global Retirement Partners LLC bought a new stake in shares of BlackSky Technology in the 4th quarter valued at $28,000. Wexford Capital LP bought a new stake in shares of BlackSky Technology in the 3rd quarter valued at $30,000. Finally, IFP Advisors Inc increased its position in shares of BlackSky Technology by 57.9% in the 3rd quarter. IFP Advisors Inc now owns 2,253 shares of the company's stock valued at $45,000 after buying an additional 826 shares in the last quarter. 27.15% of the stock is owned by institutional investors and hedge funds.

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.

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