BlackSky Technology (NYSE:BKSY) Trading Down 4.2% - Should You Sell?

Shares of BlackSky Technology Inc. (NYSE:BKSY - Get Free Report) dropped 4.2% during trading on Wednesday . The stock traded as low as $21.26 and last traded at $21.58. Approximately 642,426 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 1,078,630 shares. The stock had previously closed at $22.52.

Analyst Upgrades and Downgrades

BKSY has been the subject of several recent analyst reports. Canaccord Genuity Group raised 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, June 26th. HC Wainwright raised their target price on shares of BlackSky Technology from $20.00 to $28.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, Benchmark raised their price objective 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. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $23.00.

BlackSky Technology Stock Performance

The business's 50-day moving average price is $14.22 and its 200 day moving average price is $12.20. The company has a debt-to-equity ratio of 1.26, a quick ratio of 3.79 and a current ratio of 3.79.

BlackSky Technology (NYSE:BKSY - Get Free Report) last posted 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 business 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%. As a group, equities research analysts anticipate that BlackSky Technology Inc. will post -2.28 earnings per share for the current year.

Hedge Funds Weigh In On BlackSky Technology

Several hedge funds and other institutional investors have recently modified their holdings of BKSY. Bank of New York Mellon Corp boosted its holdings in shares of BlackSky Technology by 89.1% during the fourth quarter. Bank of New York Mellon Corp now owns 56,298 shares of the company's stock valued at $607,000 after acquiring an additional 26,528 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of BlackSky Technology by 98.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 189,157 shares of the company's stock valued at $2,041,000 after acquiring an additional 93,715 shares during the period. Farther Finance Advisors LLC acquired a new position in shares of BlackSky Technology during the fourth quarter valued at $44,000. Corebridge Financial Inc. boosted its holdings in shares of BlackSky Technology by 73.0% during the fourth quarter. Corebridge Financial Inc. now owns 12,481 shares of the company's stock valued at $135,000 after acquiring an additional 5,266 shares during the period. Finally, CIBC Private Wealth Group LLC acquired a new position in shares of BlackSky Technology during the fourth quarter valued at $76,000. Institutional investors and hedge funds own 27.15% of the company's stock.

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.