Brokerages Set BlackSky Technology Inc. (NYSE:BKSY) Price Target at $27.40

Shares of BlackSky Technology Inc. (NYSE:BKSY) have earned a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $27.40.

A number of research firms have recently weighed in on BKSY. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BlackSky Technology in a research note on Wednesday, January 21st. Canaccord Genuity Group lowered their target price on shares of BlackSky Technology from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Jefferies Financial Group started coverage on shares of BlackSky Technology in a report on Monday, December 22nd. They issued a “buy” rating and a $23.00 target price for the company. Finally, HC Wainwright reissued a “buy” rating and set a $42.00 price target on shares of BlackSky Technology in a research note on Friday, February 27th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in shares of BlackSky Technology by 392.8% during the 4th quarter. Bank of New York Mellon Corp now owns 2,072,543 shares of the company’s stock worth $38,860,000 after buying an additional 1,652,014 shares during the last quarter. Vanguard Group Inc. increased its holdings in BlackSky Technology by 7.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,697,683 shares of the company’s stock valued at $34,208,000 after acquiring an additional 123,171 shares in the last quarter. State Street Corp raised its position in BlackSky Technology by 63.3% during the fourth quarter. State Street Corp now owns 996,019 shares of the company’s stock worth $18,675,000 after acquiring an additional 386,207 shares during the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of BlackSky Technology in the fourth quarter valued at about $16,395,000. Finally, Geode Capital Management LLC lifted its holdings in shares of BlackSky Technology by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 718,490 shares of the company’s stock valued at $13,474,000 after purchasing an additional 22,695 shares in the last quarter. Hedge funds and other institutional investors own 27.15% of the company’s stock.

BlackSky Technology Stock Performance

NYSE BKSY opened at $24.30 on Friday. The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 2.08. The business’s 50 day moving average is $23.03 and its two-hundred day moving average is $20.83. BlackSky Technology has a 12-month low of $6.15 and a 12-month high of $33.20. The stock has a market capitalization of $874.63 million, a price-to-earnings ratio of -11.30 and a beta of 2.44.

BlackSky Technology (NYSE:BKSY) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.06. BlackSky Technology had a negative return on equity of 54.86% and a negative net margin of 65.93%.The business had revenue of $35.21 million during the quarter, compared to analysts’ expectations of $37.13 million. Research analysts expect that BlackSky Technology will post -2.28 EPS for the current year.

About BlackSky Technology

BlackSky Technology, Inc operates Earth observation and geospatial intelligence services through a constellation of small satellites and an analytics platform. The company collects and processes high-revisit satellite imagery, enabling near-real-time monitoring of global events and locations. Clients across government, defense and commercial sectors leverage BlackSky’s imagery and data to support decision-making in areas such as supply chain monitoring, humanitarian aid, infrastructure management and security operations.

Founded in 2014 as part of Spaceflight Industries, BlackSky has grown its satellite constellation and analytics capabilities to deliver satellite imagery with high revisit rates and rapid tasking.