Canaccord Genuity Group Begins Coverage on BlackSky Technology (NYSE:BKSY)

Research analysts at Canaccord Genuity Group began coverage on shares of BlackSky Technology (NYSE:BKSY) in a research note issued on Thursday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $12.00 price target on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 56.76% from the company’s previous close.

BKSY has been the subject of several other reports. Oppenheimer lifted their target price on shares of BlackSky Technology from $10.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective on shares of BlackSky Technology in a report on Friday, March 7th. Finally, Benchmark reissued a “buy” rating and issued a $17.00 target price on shares of BlackSky Technology in a research note on Friday, March 7th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $20.17.

BlackSky Technology Trading Up 1.5 %

BlackSky Technology stock opened at $7.66 on Thursday. The stock has a market cap of $242.20 million, a P/E ratio of -3.39 and a beta of 1.61. The company has a debt-to-equity ratio of 0.89, a quick ratio of 5.68 and a current ratio of 5.68. The firm’s fifty day moving average price is $11.66 and its 200-day moving average price is $10.20. BlackSky Technology has a fifty-two week low of $3.86 and a fifty-two week high of $21.92.

Institutional Investors Weigh In On BlackSky Technology

A number of institutional investors have recently made changes to their positions in BKSY. Mithril II GP LP bought a new stake in BlackSky Technology in the fourth quarter worth $11,116,000. Geode Capital Management LLC increased its holdings in shares of BlackSky Technology by 94.2% in the fourth quarter. Geode Capital Management LLC now owns 551,444 shares of the company’s stock worth $5,951,000 after buying an additional 267,427 shares during the period. Invesco Ltd. bought a new stake in shares of BlackSky Technology in the 4th quarter valued at about $3,868,000. Trexquant Investment LP boosted its holdings in BlackSky Technology by 2,309.8% during the 4th quarter. Trexquant Investment LP now owns 301,590 shares of the company’s stock valued at $3,254,000 after acquiring an additional 289,075 shares during the period. Finally, Northern Trust Corp grew its position in BlackSky Technology by 89.1% during the 4th quarter. Northern Trust Corp now owns 202,153 shares of the company’s stock worth $2,181,000 after acquiring an additional 95,228 shares during the last quarter. Hedge funds and other institutional investors own 27.15% of the company’s stock.

About BlackSky Technology

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.