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BlackSky Technology Inc. (NYSE: BKSY) Stock: Bulls Should Watch This

The trading price of BlackSky Technology Inc. (NYSE:BKSY) closed higher on Tuesday, June 21, closing at $2.44, 20.20% higher than its previous close.

Traders who pay close attention to intraday price movement should know that it fluctuated between $2.325 and $2.92. In examining the 52-week price action we see that the stock hit a 52-week high of $13.20 and a 52-week low of $1.00. Over the past month, the stock has gained 79.41% in value.

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BlackSky Technology Inc., whose market valuation is $272.47 million at the time of this writing, is expected to release its quarterly earnings report Nov 12, 2021. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by $0 per share this quarter, however they have predicted annual earnings per share of -$0.83 for 2022 and -$0.46 for 2023. It means analysts are expecting annual earnings per share growth of 75.50% this year and 44.60% next year.

Analysts have forecast the company to bring in revenue of $14.5 million for the current quarter, with the likely lows of $14.5 million and highs of $14.5 million. The average estimate suggests sales will likely up by 81.20% this quarter compared to what was recorded in the comparable quarter last year. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2022 is $61.5 million. The company’s revenue is forecast to grow by 80.40% over what it did in 2022.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of BlackSky Technology Inc. No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest BKSY has a 50% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Sell, while an average of long term indicators suggests that the stock is currently 50% Sell.

A quick review shows that BKSY’s price is currently 10.03% off the SMA20 and 33.68% off the SMA50. The RSI metric on the 14-day chart is currently showing 56.95, and weekly volatility stands at 15.56%. When measured over the past 30 days, the indicator reaches 22.35%. BlackSky Technology Inc. (NYSE:BKSY)’s beta value is currently sitting at 0, while the Average True Range indicator is currently displaying 0.37.

To see how BlackSky Technology Inc. stock has been performing in comparison to its peers in the industry, here are the numbers: BKSY stock’s performance was 20.20% in the latest trading, and -75.53% in the past year. Also in last trading session, the S&P 500 Index has surged 2.45%, while the Dow Jones Industrial also saw a positive session, up 2.15% on the day.

An evaluation of the daily trading volume of BlackSky Technology Inc. (NYSE:BKSY) indicates that the 3-month average is 6.49 million.

Currently, records show that 115.48 million of the company’s shares remain outstanding. The insiders hold 3.30% of outstanding shares, whereas institutions hold 30.10%. However, since the stock’s price has seen -45.66% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.

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