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

BlackSky Technology (NYSE:BKSY) had its price objective hoisted by Canaccord Genuity Group from $14.00 to $20.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 15.81% from the company’s current price.

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

BlackSky Technology Stock Performance

Shares of BlackSky Technology stock opened at $17.27 on Thursday. The firm has a fifty day moving average of $10.99 and a two-hundred day moving average of $11.33. The company has a debt-to-equity ratio of 1.26, a quick ratio of 3.79 and a current ratio of 3.79. The stock has a market capitalization of $546.60 million, a price-to-earnings ratio of -6.72 and a beta of 1.85. BlackSky Technology has a 52 week low of $3.86 and a 52 week high of $21.92.

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 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 analyst estimates of $27.20 million. As a group, equities research analysts predict that BlackSky Technology will post -2.28 EPS for the current year.

Institutional Trading of BlackSky Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BKSY. Rhumbline Advisers grew its position in shares of BlackSky Technology by 12.2% during the 1st quarter. Rhumbline Advisers now owns 35,295 shares of the company’s stock valued at $273,000 after acquiring an additional 3,849 shares during the period. Goldman Sachs Group Inc. increased its position in BlackSky Technology by 343.7% in the first quarter. Goldman Sachs Group Inc. now owns 557,729 shares of the company’s stock worth $4,311,000 after buying an additional 432,023 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of BlackSky Technology by 7.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,174 shares of the company’s stock worth $117,000 after buying an additional 1,015 shares during the period. AQR Capital Management LLC purchased a new stake in BlackSky Technology during the first quarter valued at approximately $103,000. Finally, Cubist Systematic Strategies LLC bought a new position in BlackSky Technology during the first quarter valued at $1,728,000. 27.15% of the stock is owned by hedge funds and other institutional investors.

BlackSky Technology Company Profile

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.