BlackSky Technology (NYSE:BKSY) Trading Up 8.1% - Still a Buy?

BlackSky Technology Inc. (NYSE:BKSY - Get Free Report)'s stock price was up 8.1% during trading on Thursday . The stock traded as high as $23.89 and last traded at $24.12. Approximately 1,188,416 shares were traded during mid-day trading, an increase of 9% from the average daily volume of 1,087,477 shares. The stock had previously closed at $22.30.

Analysts Set New Price Targets

A number of equities analysts recently commented on BKSY shares. HC Wainwright boosted 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. Canaccord Genuity Group boosted 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. Finally, Benchmark boosted their target price on shares of BlackSky Technology from $17.00 to $18.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, BlackSky Technology presently has a consensus rating of "Buy" and an average price target of $23.00.

BlackSky Technology Stock Up 7.0%

The firm's 50-day moving average price is $13.65 and its 200 day moving average price is $12.02. The firm has a market capitalization of $755.17 million, a price-to-earnings ratio of -9.34 and a beta of 2.07. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.79 and a quick ratio of 3.79.

BlackSky Technology (NYSE:BKSY - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.05. The business had revenue of $29.54 million for the quarter, compared to the consensus estimate of $27.20 million. BlackSky Technology had a negative net margin of 50.30% and a negative return on equity of 45.63%. Sell-side analysts expect that BlackSky Technology Inc. will post -2.28 EPS for the current year.

Hedge Funds Weigh In On BlackSky Technology

A number of large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its stake in shares of BlackSky Technology by 89.1% in the 4th 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. raised its stake in shares of BlackSky Technology by 98.2% in the 4th 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 purchased a new position in shares of BlackSky Technology in the 4th quarter valued at $44,000. Corebridge Financial Inc. raised its stake in shares of BlackSky Technology by 73.0% in the 4th 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 purchased a new position in shares of BlackSky Technology in the 4th quarter valued at $76,000. Hedge funds and other 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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