BlackSky Technology (NYSE:BKSY) Raised to Hold at Wall Street Zen

BlackSky Technology (NYSE:BKSY) was upgraded by investment analysts at Wall Street Zen from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other research analysts also recently weighed in on the company. HC Wainwright restated a “buy” rating and issued a $42.00 price target on shares of BlackSky Technology in a research note on Friday, February 27th. Jefferies Financial Group initiated coverage on BlackSky Technology in a research note on Monday, December 22nd. They set a “buy” rating and a $23.00 price objective on the stock. Canaccord Genuity Group cut their price objective on BlackSky Technology from $27.00 to $26.00 and set a “buy” rating for the company in a report on Friday, February 27th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of BlackSky Technology in a research note on Wednesday, January 21st. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $27.40.

BlackSky Technology Trading Up 1.7%

Shares of NYSE:BKSY opened at $26.06 on Friday. The company’s 50-day moving average price is $23.70 and its two-hundred day moving average price is $21.40. BlackSky Technology has a one year low of $6.15 and a one year high of $33.20. The company has a debt-to-equity ratio of 2.04, a current ratio of 3.48 and a quick ratio of 3.89. The stock has a market capitalization of $964.11 million, a PE ratio of -12.12 and a beta of 2.44.

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

Hedge Funds Weigh In On BlackSky Technology

Several large investors have recently modified their holdings of BKSY. Quarry LP bought a new position in shares of BlackSky Technology in the fourth quarter valued at about $26,000. Strive Financial Group LLC bought a new stake in shares of BlackSky Technology during the 4th quarter worth about $26,000. Global Retirement Partners LLC acquired a new position in BlackSky Technology in the 4th quarter valued at about $28,000. Wexford Capital LP bought a new position in BlackSky Technology in the 3rd quarter valued at about $30,000. Finally, IFP Advisors Inc raised its holdings in BlackSky Technology by 57.9% in the 3rd quarter. IFP Advisors Inc now owns 2,253 shares of the company’s stock valued at $45,000 after acquiring an additional 826 shares during the period. 27.15% of the stock is owned by institutional investors.

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.