Canaccord Genuity Group Issues Positive Forecast for BlackSky Technology (NYSE:BKSY) Stock Price

BlackSky Technology (NYSE:BKSY) had its price objective increased by Canaccord Genuity Group from $14.00 to $20.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages have also recently commented on BKSY. Benchmark lifted their price objective on BlackSky Technology from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, May 13th. HC Wainwright restated a “buy” rating and set a $20.00 target price on shares of BlackSky Technology in a research report on Friday, March 7th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, BlackSky Technology currently has a consensus rating of “Buy” and a consensus target price of $21.67.

BlackSky Technology Stock Performance

Shares of NYSE:BKSY opened at $20.54 on Thursday. The company has a current ratio of 3.79, a quick ratio of 3.79 and a debt-to-equity ratio of 1.26. BlackSky Technology has a 1-year low of $3.86 and a 1-year high of $21.92. The stock has a market capitalization of $650.00 million, a P/E ratio of -7.99 and a beta of 1.85. The business has a 50-day moving average price of $11.26 and a two-hundred day moving average price of $11.40.

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

Institutional Trading of BlackSky Technology

Large investors have recently made changes to their positions in the company. Rhumbline Advisers lifted its holdings in BlackSky Technology by 12.2% during the first quarter. Rhumbline Advisers now owns 35,295 shares of the company’s stock worth $273,000 after acquiring an additional 3,849 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of BlackSky Technology by 343.7% during the first quarter. Goldman Sachs Group Inc. now owns 557,729 shares of the company’s stock worth $4,311,000 after purchasing an additional 432,023 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of BlackSky Technology by 7.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,174 shares of the company’s stock valued at $117,000 after purchasing an additional 1,015 shares in the last quarter. AQR Capital Management LLC acquired a new position in shares of BlackSky Technology in the 1st quarter valued at approximately $103,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of BlackSky Technology in the 1st quarter valued at approximately $1,728,000. 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.