BlackSky Technology (NYSE:BKSY) Trading Down 9.3% - Should You Sell?

Key Points

• BlackSky Technology shares fell 9.3% on Thursday, trading as low as $22.09 after closing at $24.30, with volume well below average.
• Analyst sentiment remains cautious: recent actions included a Sell from Weiss Ratings and a downgrade to Strong Sell from Wall Street Zen, though Jefferies later moved the stock to Hold. The overall consensus rating is Hold with a $36.50 target price.
• The company’s latest earnings were weak, with EPS of -$0.82 versus expectations of -$0.37 and revenue of $20.77 million below estimates. BlackSky also posted large losses and continues to trade with negative profitability metrics.

BlackSky Technology Inc. (NYSE:BKSY - Get Free Report) shares were down 9.3% during trading on Thursday . The company traded as low as $22.09 and last traded at $22.0440. 723,535 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 1,886,716 shares. The stock had previously closed at $24.30.

Wall Street Analyst Weigh In

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

BlackSky Technology Stock Performance

The company has a market cap of $793.06 million, a P/E ratio of -8.39 and a beta of 2.59. The company's fifty day moving average is $34.75 and its 200 day moving average is $29.34. The company has a current ratio of 3.46, a quick ratio of 3.34 and a debt-to-equity ratio of 2.39.

BlackSky Technology (NYSE:BKSY - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.82) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.45). BlackSky Technology had a negative return on equity of 74.25% and a negative net margin of 89.07%.The business had revenue of $20.77 million during the quarter, compared to the consensus estimate of $27.60 million. As a group, equities analysts predict that BlackSky Technology Inc. will post -1.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BlackSky Technology

Several institutional investors have recently bought and sold shares of BKSY. Quarry LP purchased a new position in BlackSky Technology in the 4th quarter worth approximately $26,000. Strive Financial Group LLC bought a new position in shares of BlackSky Technology in the fourth quarter worth approximately $26,000. Wexford Capital LP purchased a new position in shares of BlackSky Technology in the third quarter worth $30,000. Global Retirement Partners LLC purchased a new position in shares of BlackSky Technology in the fourth quarter worth $28,000. Finally, Fifth Third Bancorp bought a new stake in BlackSky Technology during the 1st quarter valued at $48,000. 27.15% of the stock is currently 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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