BlackSky Technology (NYSE:BKSY) Shares Gap Up Following Analyst Upgrade

BlackSky Technology Inc. (NYSE:BKSYGet Free Report)’s share price gapped up prior to trading on Thursday after Canaccord Genuity Group raised their price target on the stock from $14.00 to $20.00. The stock had previously closed at $17.28, but opened at $18.00. Canaccord Genuity Group currently has a buy rating on the stock. BlackSky Technology shares last traded at $19.64, with a volume of 884,938 shares changing hands.

A number of other equities research analysts also recently weighed in on the stock. Benchmark lifted their price target on shares of BlackSky Technology from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, May 13th. HC Wainwright reissued a “buy” rating and issued a $20.00 target price on shares of BlackSky Technology in a report on Friday, March 7th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $21.67.

Read Our Latest Stock Report on BKSY

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BKSY. Summit Investment Advisors Inc. lifted its stake in shares of BlackSky Technology by 115.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,626 shares of the company’s stock worth $28,000 after acquiring an additional 1,406 shares during the period. BNP Paribas Financial Markets grew its holdings in BlackSky Technology by 22.7% in the fourth quarter. BNP Paribas Financial Markets now owns 3,691 shares of the company’s stock worth $40,000 after purchasing an additional 683 shares during the period. Farther Finance Advisors LLC acquired a new stake in shares of BlackSky Technology in the 4th quarter valued at about $44,000. GAMMA Investing LLC grew its stake in BlackSky Technology by 14,829.2% in the first quarter. GAMMA Investing LLC now owns 7,166 shares of the company’s stock valued at $55,000 after acquiring an additional 7,118 shares during the period. Finally, New York State Common Retirement Fund increased its stake in BlackSky Technology by 217.0% during the 1st quarter. New York State Common Retirement Fund now owns 8,765 shares of the company’s stock valued at $68,000 after purchasing an additional 6,000 shares in the last quarter. 27.15% of the stock is owned by institutional investors.

BlackSky Technology Trading Up 18.8%

The company has a quick ratio of 3.79, a current ratio of 3.79 and a debt-to-equity ratio of 1.26. The firm has a 50 day moving average price of $11.26 and a 200 day moving average price of $11.40. The stock has a market capitalization of $650.00 million, a PE ratio of -7.99 and a beta of 1.85.

BlackSky Technology (NYSE:BKSYGet Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.05. The business had revenue of $29.54 million during the quarter, compared to the consensus estimate of $27.20 million. BlackSky Technology had a negative return on equity of 45.63% and a negative net margin of 50.30%. Equities analysts expect that BlackSky Technology Inc. will post -2.28 EPS for the current fiscal year.

About BlackSky Technology

(Get Free Report)

BlackSky Technology Inc provides geospatial intelligence, imagery and related data analytic products and services, and mission systems that include the development, integration, and operation of satellite and ground systems for government and commercial customers in North America, the Middle East, the Asia Pacific, and internationally.

Featured Stories

Receive News & Ratings for BlackSky Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackSky Technology and related companies with MarketBeat.com's FREE daily email newsletter.