BlackSky Technology (NYSE:BKSY) Trading 7.2% Higher - Still a Buy?

Key Points

• BlackSky Technology Inc. shares rose 7.2% to $16.58 amidst trading, although the volume was significantly lower than average.
• Investment analysts are divided on BKSY, with some increasing their target prices to $28.00 while others lowered their ratings to "strong sell," reflecting differing outlooks.
• BlackSky reported a quarterly earnings miss with an EPS of ($0.52), but revenues slightly exceeded analyst estimates at $22.20 million.

BlackSky Technology Inc. (NYSE:BKSY - Get Free Report)'s stock price rose 7.2% during mid-day trading on Thursday . The company traded as high as $16.08 and last traded at $16.58. Approximately 57,800 shares were traded during trading, a decline of 96% from the average daily volume of 1,589,222 shares. The stock had previously closed at $15.47.

Wall Street Analyst Weigh In

BKSY has been the topic of a number of analyst reports. Lake Street Capital increased their target price on shares of BlackSky Technology from $18.00 to $28.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Wall Street Zen lowered shares of BlackSky Technology from a "hold" rating to a "strong sell" rating in a research report on Saturday, August 9th. HC Wainwright increased their target price on shares of BlackSky Technology from $20.00 to $28.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Finally, Canaccord Genuity Group decreased their target price on shares of BlackSky Technology from $28.00 to $27.00 and set a "buy" rating on the stock in a research report on Tuesday, July 22nd. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $23.50.

BlackSky Technology Price Performance

The company has a current ratio of 3.71, a quick ratio of 3.71 and a debt-to-equity ratio of 1.35. The firm has a market cap of $624.27 million, a price-to-earnings ratio of -5.24 and a beta of 2.15. The company's 50-day moving average is $19.35 and its 200-day moving average is $13.76.

BlackSky Technology (NYSE:BKSY - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.03). The firm had revenue of $22.20 million for the quarter, compared to analyst estimates of $22.17 million. BlackSky Technology had a negative return on equity of 52.27% and a negative net margin of 82.04%. BlackSky Technology has set its FY 2025 guidance at EPS. Equities research analysts predict that BlackSky Technology Inc. will post -2.28 earnings per share for the current year.

Hedge Funds Weigh In On BlackSky Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Two Sigma Investments LP bought a new position in BlackSky Technology in the 4th quarter valued at approximately $1,219,000. Oppenheimer & Co. Inc. raised its stake in shares of BlackSky Technology by 215.3% during the first quarter. Oppenheimer & Co. Inc. now owns 80,638 shares of the company's stock valued at $623,000 after acquiring an additional 55,067 shares during the last quarter. Northern Trust Corp raised its stake in shares of BlackSky Technology by 89.1% during the fourth quarter. Northern Trust Corp now owns 202,153 shares of the company's stock valued at $2,181,000 after acquiring an additional 95,228 shares during the last quarter. Nuveen Asset Management LLC raised its stake in shares of BlackSky Technology by 20.5% during the fourth quarter. Nuveen Asset Management LLC now owns 72,890 shares of the company's stock valued at $786,000 after acquiring an additional 12,378 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of BlackSky Technology by 93.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,159 shares of the company's stock valued at $153,000 after acquiring an additional 6,835 shares during the last quarter. Institutional investors 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.

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