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Should BlackSky Technology Inc. (NYSE: BKSY) Rally After -189.15% Drop From High?

BlackSky Technology Inc. (NYSE:BKSY)’s traded shares stood at 1.66 million during the last session. At the close of trading, the stock’s price was $1.29, to imply a decrease of -7.19% or -$0.1 in intraday trading. The BKSY share’s 52-week high remains $3.73, putting it -189.15% down since that peak but still an impressive 22.48% since price per share fell to its 52-week low of $1.00. The company has a valuation of $173.71M, with an average of 1.38 million shares in intraday trading volume over the past 10 days and average of 712.67K shares over the past 3 months.

Analysts have given a consensus recommendation of a Buy for BlackSky Technology Inc. (BKSY), translating to a mean rating of 2.00. Of 4 analyst(s) looking at the stock, 0 analyst(s) give BKSY a Sell rating. 0 of those analysts rate the stock as Overweight while 0 advise Hold as 4 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.16.

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BlackSky Technology Inc. (NYSE:BKSY) trade information

After registering a -7.19% downside in the last session, BlackSky Technology Inc. (BKSY) has traded red over the past five days. The stock hit a weekly high of 1.7300 this Wednesday, 03/15/23, dropping -7.19% in its intraday price action. The 5-day price performance for the stock is -24.12%, and -27.93% over 30 days. With these gigs, the year-to-date price performance is -16.23%. Short interest in BlackSky Technology Inc. (NYSE:BKSY) saw shorts transact 2.58 million shares and set a 6.19 days time to cover.

Analysts on Wall Street suggest a consensus price target of $3.50, implying an increase of 63.14% to the stock’s current value. The extremes give us $3.00 and $4.00 for target low and target high price respectively. As such, BKSY has been trading -210.08% off suggested target high and -132.56% from its likely low.

BlackSky Technology Inc. (BKSY) estimates and forecasts

Looking at statistics comparing BlackSky Technology Inc. share performance against respective industry, we note that the company has outperformed competitors. BlackSky Technology Inc. (BKSY) shares are -33.85% down over the last 6 months, with its year-to-date growth rate higher than industry average at 35.94% against 18.30%. The rating firms project that company’s revenue will grow 92.40% compared to the previous financial year.

Revenue forecast for the current quarter as set by 4 analysts is $19.62 million. Meanwhile, for the quarter ending Mar 2023, a total of 3 analyst(s) estimate revenue growth to $21.49 million.Earnings reports from the last fiscal year show that sales brought in $11.49 million and $13.9 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 70.80% before jumping 54.60% in the following quarter.

BKSY Dividends

BlackSky Technology Inc. has its next earnings report out between May 09 and May 15. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. BlackSky Technology Inc. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

BlackSky Technology Inc. (NYSE:BKSY)’s Major holders

BlackSky Technology Inc. insiders hold 23.52% of total outstanding shares, with institutional holders owning 29.76% of the shares at 38.91% float percentage. In total, 29.76% institutions holds shares in the company, led by Vanguard Group, Inc. (The). As of Sep 29, 2022, the company held over 3.56 million shares (or 2.93% of shares), all amounting to roughly $5.34 million.

The next major institution holding the largest number of shares is Jana Partners LLC with 2.87 million shares, or about 2.36% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $4.3 million.

We also have Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund as the top two Mutual Funds with the largest holdings of the BlackSky Technology Inc. (BKSY) shares. Going by data provided on Sep 29, 2022, Vanguard Total Stock Market Index Fund holds roughly 2.61 million shares. This is just over 2.15% of the total shares, with a market valuation of $3.91 million. Data from the same date shows that the other fund manager holds a little less at 0.77 million, or 0.63% of the shares, all valued at about 1.16 million.

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