BlackSky Technology (NYSE:BKSY) Stock Rating Upgraded by Jefferies Financial Group

BlackSky Technology (NYSE:BKSY) was upgraded by analysts at Jefferies Financial Group to a “hold” rating in a report released on Wednesday,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. HC Wainwright reiterated a “buy” rating and set a $42.00 price objective on shares of BlackSky Technology in a research report on Friday, February 27th. Wall Street Zen lowered shares of BlackSky Technology from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 16th. Canaccord Genuity Group lowered their price objective on shares of BlackSky Technology from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of BlackSky Technology in a research report on Monday, April 20th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, BlackSky Technology has an average rating of “Hold” and a consensus target price of $36.50.

BlackSky Technology Price Performance

Shares of NYSE:BKSY opened at $31.77 on Wednesday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 3.34 and a current ratio of 3.46. The firm has a fifty day moving average price of $37.98 and a 200 day moving average price of $27.71. BlackSky Technology has a fifty-two week low of $10.80 and a fifty-two week high of $52.88. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of -12.46 and a beta of 2.52.

BlackSky Technology (NYSE:BKSY) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.82) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.45). BlackSky Technology had a negative net margin of 89.07% and a negative return on equity of 74.25%. The business had revenue of $20.77 million for the quarter, compared to the consensus estimate of $27.60 million. As a group, sell-side analysts expect that BlackSky Technology will post -1.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BlackSky Technology

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

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.