BlackSky Technology (NYSE:BKSY) Shares Gap Down – Here’s What Happened

by · The Cerbat Gem

Shares of BlackSky Technology Inc. (NYSE:BKSY – Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $21.87, but opened at $21.16. BlackSky Technology shares last traded at $21.8610, with a volume of 147,774 shares changing hands.

Analyst Ratings Changes

A number of research firms have recently commented on BKSY. Weiss Ratings reissued a “sell (d-)” rating on shares of BlackSky Technology in a report on Wednesday, October 8th. Jefferies Financial Group initiated coverage on BlackSky Technology in a research report on Monday. They issued a “buy” rating and a $23.00 target price on the stock. Finally, HC Wainwright boosted their target price on BlackSky Technology from $28.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, BlackSky Technology currently has an average rating of “Moderate Buy” and an average price target of $28.00.

View Our Latest Research Report on BlackSky Technology

BlackSky Technology Price Performance

The business has a 50-day moving average of $19.12 and a two-hundred day moving average of $19.26. The firm has a market cap of $788.00 million, a P/E ratio of -6.97 and a beta of 2.41. The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 2.08.

BlackSky Technology (NYSE:BKSY – Get Free Report) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.02. The company had revenue of $19.62 million during the quarter, compared to the consensus estimate of $28.67 million. BlackSky Technology had a negative return on equity of 54.48% and a negative net margin of 87.11%. On average, sell-side analysts anticipate that BlackSky Technology Inc. will post -2.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BlackSky Technology

Several large investors have recently modified their holdings of BKSY. Griffin Asset Management Inc. grew its stake in shares of BlackSky Technology by 1.6% in the third quarter. Griffin Asset Management Inc. now owns 48,856 shares of the company’s stock worth $984,000 after purchasing an additional 746 shares during the last quarter. IFP Advisors Inc lifted its holdings in BlackSky Technology by 57.9% during the 3rd quarter. IFP Advisors Inc now owns 2,253 shares of the company’s stock worth $45,000 after buying an additional 826 shares during the period. Legal & General Group Plc grew its position in shares of BlackSky Technology by 40.5% in the 2nd quarter. Legal & General Group Plc now owns 3,118 shares of the company’s stock valued at $64,000 after buying an additional 899 shares during the last quarter. Concurrent Investment Advisors LLC grew its position in shares of BlackSky Technology by 5.6% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 19,042 shares of the company’s stock valued at $384,000 after buying an additional 1,010 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of BlackSky Technology by 7.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,174 shares of the company’s stock valued at $117,000 after buying an additional 1,015 shares during the period. Institutional investors own 27.15% of the company’s stock.

BlackSky Technology Company Profile

(Get Free Report)

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.

See Also