BlackSky Technology Inc. (NYSE:BKSY) Receives Consensus Recommendation of “Buy” from Analysts

BlackSky Technology Inc. (NYSE:BKSY) has earned an average rating of “Buy” from the six brokerages that are covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have covered the stock in the last year is $24.33.

A number of brokerages have recently issued reports on BKSY. Benchmark upped their price target on BlackSky Technology from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, May 13th. HC Wainwright upped their price target on BlackSky Technology from $20.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Finally, Canaccord Genuity Group upped their price target on BlackSky Technology from $20.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday.

Hedge Funds Weigh In On BlackSky Technology

Several hedge funds have recently made changes to their positions in BKSY. Summit Investment Advisors Inc. boosted its holdings in BlackSky Technology by 115.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,626 shares of the company’s stock valued at $28,000 after purchasing an additional 1,406 shares during the last quarter. BNP Paribas Financial Markets boosted 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 valued at $40,000 after purchasing an additional 683 shares during the last quarter. Farther Finance Advisors LLC purchased a new stake in BlackSky Technology in the fourth quarter valued at $44,000. GAMMA Investing LLC boosted its holdings 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 purchasing an additional 7,118 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in BlackSky Technology by 217.0% in the first 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 during the last quarter. 27.15% of the stock is owned by institutional investors and hedge funds.

BlackSky Technology Stock Performance

Shares of NYSE:BKSY opened at $23.64 on Friday. The company has a market capitalization of $748.21 million, a price-to-earnings ratio of -9.20 and a beta of 2.07. BlackSky Technology has a 52 week low of $3.86 and a 52 week high of $28.85. 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 of $15.81 and a 200 day moving average of $12.69.

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

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.