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Could BlackSky Technology Inc. (NYSE: BKSY) Deliver Exceptional Returns?

In the last trading session, 1.08 million shares of the BlackSky Technology Inc. (NYSE:BKSY) were traded, and its beta was 0.66. Most recently the company’s share price was $1.38, and it changed around -$0.08 or -5.48% from the last close, which brings the market valuation of the company to $187.85M. BKSY currently trades at a discount to its 52-week high of $3.73, offering almost -170.29% off that amount. The share price’s 52-week low was $1.12, which indicates that the current value has risen by an impressive 18.84% since then. We note from BlackSky Technology Inc.’s average daily trading volume that its 10-day average is 0.82 million shares, with the 3-month average coming to 1.04 million.

BlackSky Technology Inc. stock received a consensus recommendation rating of a Buy, based on a mean score of 2.00. If we narrow it down even further, the data shows that 0 out of 3 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 0 recommended BKSY as a Hold, whereas 3 deemed it a Buy, and 0 rated it as Underweight. BlackSky Technology Inc. is expected to report earnings per share of -$0.11 for the current quarter.

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BlackSky Technology Inc. (NYSE:BKSY) trade information

Instantly BKSY has showed a red trend with a performance of -5.48% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 1.5200 on Tuesday, 05/23/23 increased the stock’s daily price by 9.21%. The company’s shares are currently down -10.39% year-to-date, but still up 12.20% over the last five days. On the other hand, BlackSky Technology Inc. (NYSE:BKSY) is 2.22% up in the 30-day period. We can see from the shorts that 6.09 million shares have been sold at a short interest cover period of 6.03 day(s).

The consensus price target as assigned by Wall Street analysts is $3.67, which translates to bulls needing to increase their stock price by 62.4% from its current value. Analyst projections state that BKSY is forecast to be at a low of $3.00 and a high of $4.00. In order for the stock price to hit the forecast high, the stock would need to plunge -189.86% from its current level, while the stock would need to crash -117.39% from its current level to reach the projected low.

BlackSky Technology Inc. (BKSY) estimates and forecasts

BlackSky Technology Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -20.23 percent over the past six months and at a 39.06% annual growth rate that is well above the industry average of 17.90%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will gain 47.60% in revenue this quarter, and will report an increase of 8.30% in the next quarter. The year-over-year growth rate is expected to be 41.00%, up from the previous year.

Consensus estimates provided by 3 financial analysts predict the company will bring in an average of $20.53 million in revenue for the current quarter. 3 analysts expect BlackSky Technology Inc. to make $24.7 million in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $15.1 million and $16.93 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 35.90%. Forecasts for the next quarter put sales growth at 45.90%.

BKSY Dividends

BlackSky Technology Inc.’s next quarterly earnings report is expected to be released around June 13 and June 19.

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

Upon looking at major shareholders, it appears that insiders hold 12.92% of BlackSky Technology Inc. shares, and 33.79% of them are in the hands of institutional investors. The stock currently has a share float of 38.80%. BlackSky Technology Inc. stock is held by 82 institutions, with Armistice Capital, LLC being the largest institutional investor. By Mar 30, 2023, it held 8.00% of the shares, which is about 11.14 million shares worth $16.71 million.

Cercano Management LLC, with 7.14% or 9.95 million shares worth $14.93 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund were the top two Mutual Funds as of Dec 30, 2022. The former held 2.61 million shares worth $4.01 million, making up 1.87% of all outstanding shares. On the other hand, Vanguard Extended Market Index Fund held roughly 0.79 million shares worth around $1.22 million, which represents about 0.57% of the total shares outstanding.

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