BlackSky Technology (NYSE:BKSY) Price Target Raised to $28.00

BlackSky Technology (NYSE:BKSY) had its target price upped by Canaccord Genuity Group from $20.00 to $28.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also recently weighed in on BKSY. 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 note on Tuesday, July 8th. Benchmark upped their price target on BlackSky Technology from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, May 13th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, BlackSky Technology presently has a consensus rating of “Buy” and an average price target of $24.33.

BlackSky Technology Price Performance

BKSY opened at $23.64 on Wednesday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 3.79 and a current ratio of 3.79. BlackSky Technology has a 52-week low of $3.86 and a 52-week high of $28.85. The stock has a market capitalization of $748.21 million, a PE ratio of -9.20 and a beta of 2.07. The stock’s 50 day moving average price is $15.81 and its 200-day moving average price is $12.69.

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

Institutional Investors Weigh In On BlackSky Technology

A number of institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its stake in shares of BlackSky Technology by 22.7% in the fourth quarter. BNP Paribas Financial Markets now owns 3,691 shares of the company’s stock worth $40,000 after acquiring an additional 683 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of BlackSky Technology by 7.2% during the first 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. Summit Investment Advisors Inc. lifted its holdings in shares of BlackSky Technology by 115.2% during 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 in the last quarter. Bridgeway Capital Management LLC lifted its holdings in shares of BlackSky Technology by 2.9% during the fourth quarter. Bridgeway Capital Management LLC now owns 59,450 shares of the company’s stock valued at $641,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of BlackSky Technology by 4.5% during the first quarter. Bank of New York Mellon Corp now owns 58,850 shares of the company’s stock valued at $455,000 after purchasing an additional 2,552 shares in the last quarter. 27.15% of the stock is owned by hedge funds and other institutional investors.

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.