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

BlackSky Technology Inc. (NYSE:BKSY) has received a consensus recommendation of “Moderate Buy” from the five analysts that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $39.3333.

A number of brokerages recently commented on BKSY. Jefferies Financial Group upgraded shares of BlackSky Technology to a “hold” rating in a research note on Wednesday, June 10th. Clear Str raised BlackSky Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of BlackSky Technology in a report on Friday, July 17th. Finally, Wall Street Zen upgraded BlackSky Technology from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th.

Insider Activity at BlackSky Technology

In related news, CFO Henry Dubois sold 4,000 shares of the firm’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $23.78, for a total transaction of $95,120.00. Following the transaction, the chief financial officer directly owned 498,156 shares of the company’s stock, valued at approximately $11,846,149.68. This trade represents a 0.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BKSY. Bank of New York Mellon Corp grew its position in BlackSky Technology by 392.8% during the fourth 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 in the last quarter. Vanguard Group Inc. grew its holdings in shares of 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 in the last quarter. Tema ETFs LLC grew its holdings in shares of BlackSky Technology by 110,505.8% during the 2nd quarter. Tema ETFs LLC now owns 1,446,724 shares of the company’s stock worth $40,393,000 after purchasing an additional 1,445,416 shares in the last quarter. AWM Investment Company Inc. bought a new position in shares of BlackSky Technology in the second quarter worth $33,504,000. Finally, State Street Corp raised its stake in BlackSky Technology by 63.3% in the fourth quarter. State Street Corp now owns 996,019 shares of the company’s stock valued at $18,675,000 after purchasing an additional 386,207 shares in the last quarter. 27.15% of the stock is owned by institutional investors.

BlackSky Technology Stock Performance

Shares of NYSE BKSY opened at $20.49 on Friday. The company has a current ratio of 5.83, a quick ratio of 5.72 and a debt-to-equity ratio of 0.94. BlackSky Technology has a 12 month low of $12.41 and a 12 month high of $52.88. The stock has a 50 day moving average of $25.40 and a 200-day moving average of $29.62. The company has a market capitalization of $838.45 million, a P/E ratio of -11.26 and a beta of 2.61.

BlackSky Technology (NYSE:BKSY) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.16). BlackSky Technology had a negative net margin of 61.24% and a negative return on equity of 51.24%. The business had revenue of $33.32 million for the quarter, compared to analyst estimates of $30.72 million. As a group, equities research analysts predict that BlackSky Technology will post -1.27 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.