BlackSky Technology Inc. (NYSE:BKSY) is a company that is garnering attention in the stock market. With a market valuation of $282.88M and a current stock price of $2.10 per share, BKSY has shown promising growth potential. The stock has a beta value of 0.91, indicating that it is less volatile than the overall market.
In terms of trading volume, BKSY has seen 0.41 million shares traded in the recent trading session, with a 10-day average of 1.14 million shares. The 3-month trading volume stands at 1.50 million shares. Despite being -41.9% off its 52-week high price of $2.98, the stock is still 46.67% above its 52-week low of $1.12.
The consensus among analysts is that BKSY is currently an Overweight stock, with a recommendation rating of 2.20. Out of the 4 analysts covering the stock, 3 advise it as a Buy, while 1 rates it as a Hold. None of the analysts rate BKSY as a Sell. The expected earnings per share for the stock is -$0.12.
Although BKSY has experienced a recent dip, with a 5-day performance change of -2.33%, today it has shown a positive movement of 0.96%. On Tuesday, July 11, 2023, the stock price reached $2.10, representing a rise of 4.11%. Year-to-date, BKSY shares have grown by 36.36%.
Looking at the company’s financials, BlackSky Technology Inc. has outperformed its industry, with a 6-month growth rate of 26.51% and a year-to-date growth rate of 39.06%, compared to the industry’s growth rate of 18.80%. The company has also increased its growth outlook for the 2023 fiscal year revenue, with growth estimates of 42.90% for the current quarter and 8.30% for the next quarter. The revenue growth from the last financial year is estimated to be 40.40%.
Analysts have set an average revenue estimate of $20.59 million for the current quarter and $24.65 million for the next quarter. Compared to the year-ago sales of $15.1 million and $16.93 million, analysts predict a growth rate of 36.30% for the current quarter and 45.60% for the next.
Investors are optimistic about BKSY’s prospects, despite the company’s debt issue. Insiders own 12.92% of the company’s shares, while institutional investors hold 33.79%. A total of 82 institutions hold shares in BKSY, with the top two being Armistice Capital, LLC and Cercano Management LLC. Armistice Capital, LLC holds over 11.14 million shares, worth more than $23.57 million, representing 8.00% of shares outstanding. Cercano Management LLC holds over 9.95 million shares, worth over $21.05 million, and represents 7.14% of shares outstanding.
In terms of mutual funds, Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund are the top two holders of BKSY shares. Vanguard Total Stock Market Index Fund holds about 1.87% shares in the company, worth $5.51 million, while Vanguard Extended Market Index Fund owns approximately 0.79 million shares, worth $1.67 million.
With expectations of better dividends and positive growth prospects, investors are eagerly awaiting BlackSky Technology Inc.’s next earnings report, which is scheduled to be released between July 13 and July 16 this year.
In summary, BlackSky Technology Inc. has shown promising growth potential in the stock market. With a current valuation of $282.88M and a stock price of $2.10 per share, the company has outperformed its industry and is expected to experience revenue growth in the coming quarters. Investors are optimistic about BKSY’s prospects, despite the company’s debt issue.
