BlackSky Technology Inc. (NYSE:BKSY) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of BlackSky Technology Inc. (NYSE:BKSY) have been assigned an average rating of “Moderate Buy” from the six analysts that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $27.40.

A number of equities analysts recently commented on BKSY shares. Wall Street Zen raised shares of BlackSky Technology from a “strong sell” rating to a “hold” rating in a research note on Saturday, March 21st. Canaccord Genuity Group dropped their target price on BlackSky Technology from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, February 27th. HC Wainwright reiterated a “buy” rating and issued a $42.00 price target on shares of BlackSky Technology in a report on Friday, February 27th. Weiss Ratings restated a “sell (d-)” rating on shares of BlackSky Technology in a report on Wednesday, January 21st. Finally, Jefferies Financial Group assumed coverage on BlackSky Technology in a research note on Monday, December 22nd. They issued a “buy” rating and a $23.00 target price on the stock.

Institutional Investors Weigh In On BlackSky Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Griffin Asset Management Inc. boosted its position in BlackSky Technology by 1.6% in the 3rd quarter. Griffin Asset Management Inc. now owns 48,856 shares of the company’s stock valued at $984,000 after buying an additional 746 shares during the period. Arax Advisory Partners increased its position in shares of BlackSky Technology by 15.2% during the fourth quarter. Arax Advisory Partners now owns 5,985 shares of the company’s stock worth $112,000 after acquiring an additional 791 shares during the period. IFP Advisors Inc raised its stake in shares of BlackSky Technology by 57.9% during the third quarter. IFP Advisors Inc now owns 2,253 shares of the company’s stock valued at $45,000 after acquiring an additional 826 shares in the last quarter. Legal & General Group Plc raised its stake in shares of BlackSky Technology by 40.5% during the second quarter. Legal & General Group Plc now owns 3,118 shares of the company’s stock valued at $64,000 after acquiring an additional 899 shares in the last quarter. Finally, Concurrent Investment Advisors LLC boosted its holdings in shares of BlackSky Technology by 5.6% in the third quarter. Concurrent Investment Advisors LLC now owns 19,042 shares of the company’s stock valued at $384,000 after purchasing an additional 1,010 shares during the period. Institutional investors own 27.15% of the company’s stock.

BlackSky Technology Stock Performance

NYSE BKSY opened at $21.91 on Thursday. The company has a debt-to-equity ratio of 2.04, a current ratio of 3.48 and a quick ratio of 3.37. BlackSky Technology has a 1-year low of $6.15 and a 1-year high of $33.20. The business has a 50 day simple moving average of $23.51 and a two-hundred day simple moving average of $21.85. The stock has a market capitalization of $810.52 million, a PE ratio of -10.19 and a beta of 2.44.

BlackSky Technology (NYSE:BKSY) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.06. The business had revenue of $35.21 million during the quarter, compared to analysts’ expectations of $37.13 million. BlackSky Technology had a negative net margin of 65.93% and a negative return on equity of 53.94%. On average, research analysts predict that BlackSky Technology will post -2.28 EPS for the current fiscal year.

BlackSky Technology Company Profile

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.