BlackSky Technology (NYSE:BKSY) Trading 6.6% Higher - Should You Buy?

Key Points

• BlackSky Technology shares rose 6.6% on Friday, trading as high as $22.65 after closing at $21.46 the prior session. Trading volume was well below average, with about 545,962 shares changing hands.
• Analyst sentiment remains mixed: the stock carries an average “Hold” rating and a consensus price target of $36.50. Recent actions included a Jefferies upgrade to Hold, while Weiss Ratings and Wall Street Zen issued bearish views.
• The company’s latest earnings report was weak, with EPS of -$0.82 versus expectations for -$0.37 and revenue of $20.77 million below estimates. BlackSky also posted negative margins and analysts expect a full-year loss of -$1.32 per share.

Shares of BlackSky Technology Inc. (NYSE:BKSY - Get Free Report) rose 6.6% during trading on Friday . The company traded as high as $22.65 and last traded at $22.87. Approximately 545,962 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 1,886,412 shares. The stock had previously closed at $21.46.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BKSY shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of BlackSky Technology in a research note on Monday, April 20th. Jefferies Financial Group raised shares of BlackSky Technology to a "hold" rating in a report on Wednesday, June 10th. Finally, Wall Street Zen lowered shares of BlackSky Technology from a "hold" rating to a "strong sell" rating in a research report on Saturday, May 16th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $36.50.

BlackSky Technology Price Performance

The business's fifty day moving average price is $34.54 and its 200 day moving average price is $29.36. The company has a debt-to-equity ratio of 2.39, a current ratio of 3.46 and a quick ratio of 3.34. The stock has a market cap of $856.02 million, a P/E ratio of -9.02 and a beta of 2.59.

BlackSky Technology (NYSE:BKSY - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.45). The company had revenue of $20.77 million for the quarter, compared to analyst estimates of $27.60 million. BlackSky Technology had a negative return on equity of 74.25% and a negative net margin of 89.07%. Sell-side analysts forecast that BlackSky Technology Inc. will post -1.32 EPS for the current fiscal year.

Institutional Investors Weigh In On BlackSky Technology

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

About BlackSky Technology

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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