BlackSky Technology (NYSE:BKSY) Trading Down 8.9% - Time to Sell?

Key Points

• Shares plunged 8.9% intraday to about $37.04 on Thursday, trading 304,816 shares — roughly an 82% decline from average session volume after closing at $40.66 the prior day.
• Analysts are mixed: five Buys and one Sell translate to an overall "Moderate Buy" consensus, but the street's average price target of $27.40 sits well below the current share price (individual targets range roughly $26–$42).
• Fundamentals remain challenged — BlackSky is still unprofitable (quarterly EPS of -$0.19, negative net margin of 65.93% and negative ROE), reported revenue slightly below estimates, and carries a high debt-to-equity ratio (2.04) despite strong liquidity ratios (current ratio ~3.48).

BlackSky Technology Inc. (NYSE:BKSY - Get Free Report) fell 8.9% during trading on Thursday . The stock traded as low as $37.10 and last traded at $37.0390. 304,816 shares were traded during mid-day trading, a decline of 82% from the average session volume of 1,679,870 shares. The stock had previously closed at $40.66.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on BKSY shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of BlackSky Technology in a research note on Monday. 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 target on shares of BlackSky Technology from $27.00 to $26.00 and set a "buy" rating for the company in a research note on Friday, February 27th. Finally, HC Wainwright reiterated a "buy" rating and issued a $42.00 price target on shares of BlackSky Technology in a research note on Friday, February 27th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $27.40.

BlackSky Technology Stock Down 7.7%

The company's 50-day moving average is $26.74 and its 200 day moving average is $23.38. The company has a market capitalization of $1.39 billion, a PE ratio of -17.45 and a beta of 2.25. 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 announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.06. BlackSky Technology had a negative net margin of 65.93% and a negative return on equity of 53.94%. The company had revenue of $35.21 million for the quarter, compared to the consensus estimate of $37.13 million. As a group, analysts anticipate that BlackSky Technology Inc. will post -1.33 EPS for the current year.

Institutional Trading of BlackSky Technology

Several institutional investors have recently bought and sold shares of BKSY. Bank of New York Mellon Corp grew its position in 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 valued at $38,860,000 after purchasing an additional 1,652,014 shares during the last quarter. Daiwa Securities Group Inc. purchased a new stake in BlackSky Technology during the 4th quarter valued at about $16,395,000. Goldman Sachs Group Inc. grew its position in BlackSky Technology by 343.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 557,729 shares of the company's stock valued at $4,311,000 after purchasing an additional 432,023 shares during the last quarter. Wasatch Advisors LP purchased a new stake in shares of BlackSky Technology during the 3rd quarter valued at about $8,278,000. Finally, Portolan Capital Management LLC purchased a new stake in shares of BlackSky Technology during the 3rd quarter valued at about $7,855,000. 27.15% of the stock is owned by hedge funds and other institutional investors.

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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