BlackSky Technology Inc. (NYSE:BKSY) Receives Average Recommendation of “Hold” from Brokerages

Shares of BlackSky Technology Inc. (NYSE:BKSY) have been assigned a consensus rating of “Hold” from the five research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $36.50.

A number of analysts have issued reports on the stock. Canaccord Genuity Group reduced their target price on shares of BlackSky Technology from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, February 27th. HC Wainwright restated a “buy” rating and issued a $42.00 price objective on shares of BlackSky Technology in a research note on Friday, February 27th. Wall Street Zen cut shares of BlackSky Technology from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 16th. Jefferies Financial Group cut shares of BlackSky Technology from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a research note on Monday, June 1st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of BlackSky Technology in a research note on Monday, April 20th.

BlackSky Technology Stock Performance

Shares of BKSY opened at $34.33 on Tuesday. The company’s 50 day moving average price is $37.62 and its 200 day moving average price is $27.47. BlackSky Technology has a 52 week low of $10.80 and a 52 week high of $52.88. The company has a market capitalization of $1.27 billion, a PE ratio of -13.46 and a beta of 2.52. The company has a debt-to-equity ratio of 2.39, a quick ratio of 3.34 and a current ratio of 3.46.

BlackSky Technology (NYSE:BKSY) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.82) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $20.77 million for the quarter, compared to analysts’ expectations of $27.60 million. Research analysts expect that BlackSky Technology will post -1.32 EPS for the current fiscal year.

Hedge Funds Weigh In On BlackSky Technology

A number of institutional investors and hedge funds have recently bought and sold shares of BKSY. Bank of America Corp DE increased its holdings in BlackSky Technology by 156.1% in the 1st quarter. Bank of America Corp DE now owns 412,891 shares of the company’s stock valued at $10,388,000 after buying an additional 251,638 shares during the period. The Manufacturers Life Insurance Company bought a new stake in BlackSky Technology in the 1st quarter valued at $217,000. Quantinno Capital Management LP bought a new stake in BlackSky Technology in the 1st quarter valued at $343,000. Sei Investments Co. increased its holdings in BlackSky Technology by 125.5% in the 1st quarter. Sei Investments Co. now owns 65,650 shares of the company’s stock valued at $1,652,000 after buying an additional 36,541 shares during the period. Finally, Cetera Investment Advisers increased its holdings in BlackSky Technology by 27.0% in the 1st quarter. Cetera Investment Advisers now owns 15,252 shares of the company’s stock valued at $384,000 after buying an additional 3,244 shares during the period. 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.