Market Analysts see BlackSky Technology Inc. [BKSY] gaining to $6. Time to buy?

BlackSky Technology Inc. [NYSE: BKSY] gained 7.69% or 0.2 points to close at $2.80 with a heavy trading volume of 3298373 shares. The company report on August 10, 2022 that BlackSky Reports Second Quarter 2022 Results.


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Revenue up 105% Compared to Prior Year QuarterImagery and Software Analytical Services Revenue Grew to 88% of Total RevenueWon Several Large Multi-Year Contracts with a Total Value up to $1.27 BillionCompany Raises Full Year 2022 Revenue Outlook.

BlackSky Technology Inc. (“BlackSky” or the “Company”) (NYSE: BKSY), announced results for the second quarter ended June 30, 2022.

It opened the trading session at $2.8299, the shares rose to $2.98 and dropped to $2.69, the range by which the price of stock traded the whole day. The daily chart for BKSY points out that the company has recorded 2.94% gains over the past six months. However, it is still -180.0% lower than its most recent low trading price.

If we look at the average trading volume of 8.00M shares, BKSY reached to a volume of 3298373 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about BlackSky Technology Inc. [BKSY]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BKSY shares is $6.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BKSY stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Lake Street have made an estimate for BlackSky Technology Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 26, 2022.

The Average True Range (ATR) for BlackSky Technology Inc. is set at 0.21, with the Price to Sales ratio for BKSY stock in the period of the last 12 months amounting to 7.11. The Price to Book ratio for the last quarter was 1.93, with the Price to Cash per share for the same quarter was set at 1.11.

Trading performance analysis for BKSY stock

BlackSky Technology Inc. [BKSY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.26. With this latest performance, BKSY shares gained by 25.00% in over the last four-week period, additionally plugging by 2.94% over the last 6 months – not to mention a drop of -71.97% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BKSY stock in for the last two-week period is set at 64.98, with the RSI for the last a single of trading hit 70.07, and the three-weeks RSI is set at 61.30 for BlackSky Technology Inc. [BKSY]. The present Moving Average for the last 50 days of trading for this stock 2.37, while it was recorded at 2.66 for the last single week of trading, and 3.71 for the last 200 days.

BlackSky Technology Inc. [BKSY]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and BlackSky Technology Inc. [BKSY] shares currently have an operating margin of -298.48 and a Gross Margin at -43.92. BlackSky Technology Inc.’s Net Margin is presently recorded at -715.84.

Return on Equity for this stock declined to -108.57, with Return on Assets sitting at -78.06.

BlackSky Technology Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.80 and a Current Ratio set at 4.80.

An analysis of insider ownership at BlackSky Technology Inc. [BKSY]

There are presently around $52 million, or 30.80% of BKSY stock, in the hands of institutional investors. The top three institutional holders of BKSY stocks are: JANA PARTNERS LLC with ownership of 2,843,500, which is approximately 0% of the company’s market cap and around 3.00% of the total institutional ownership; BANK OF NEW YORK MELLON CORP, holding 1,537,605 shares of the stock with an approximate value of $4.3 million in BKSY stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $4.25 million in BKSY stock with ownership of nearly New of the company’s market capitalization.

Positions in BlackSky Technology Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 44 institutional holders increased their position in BlackSky Technology Inc. [NYSE:BKSY] by around 7,351,143 shares. Additionally, 32 investors decreased positions by around 11,306,119 shares, while 11 investors held positions by with 16,377 shares. The mentioned changes placed institutional holdings at 18,640,885 shares, according to the latest SEC report filing. BKSY stock had 23 new institutional investments in for a total of 4,210,058 shares, while 22 institutional investors sold positions of 10,502,093 shares during the same period.

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