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

BlackSky Technology Inc. (NYSE:BKSY) has been given an average recommendation of “Moderate Buy” by the six research firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $27.40.

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

BlackSky Technology Price Performance

Shares of BlackSky Technology stock opened at $23.84 on Friday. BlackSky Technology has a twelve month low of $6.15 and a twelve month high of $33.20. The stock has a market capitalization of $858.00 million, a P/E ratio of -11.09 and a beta of 2.44. 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 fifty day moving average price is $23.12 and its 200 day moving average price is $20.91.

BlackSky Technology (NYSE:BKSY) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.06. The company had revenue of $35.21 million during the quarter, compared to analyst estimates of $37.13 million. BlackSky Technology had a negative return on equity of 54.86% and a negative net margin of 65.93%. As a group, research analysts anticipate that BlackSky Technology will post -2.28 earnings per share for the current year.

Hedge Funds Weigh In On BlackSky Technology

Several hedge funds and other institutional investors have recently bought and sold shares of BKSY. Bank of New York Mellon Corp grew its position in BlackSky Technology by 392.8% in the fourth quarter. Bank of New York Mellon Corp now owns 2,072,543 shares of the company’s stock valued at $38,860,000 after acquiring an additional 1,652,014 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of BlackSky Technology during the fourth quarter valued at approximately $16,395,000. Goldman Sachs Group Inc. lifted its position in shares of BlackSky Technology by 343.7% during the first quarter. Goldman Sachs Group Inc. now owns 557,729 shares of the company’s stock worth $4,311,000 after purchasing an additional 432,023 shares in the last quarter. Wasatch Advisors LP acquired a new position in shares of BlackSky Technology during the third quarter worth $8,278,000. Finally, Portolan Capital Management LLC purchased a new position in shares of BlackSky Technology in the third quarter valued at $7,855,000. 27.15% of the stock is owned by institutional investors and hedge funds.

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.