BlackSky Technology (NYSE:BKSY) Hits New 1-Year High After Analyst Upgrade

BlackSky Technology Inc. (NYSE:BKSY) shares reached a new 52-week high during mid-day trading on Tuesday after HC Wainwright raised their price target on the stock from $20.00 to $28.00. HC Wainwright currently has a buy rating on the stock. BlackSky Technology traded as high as $24.94 and last traded at $23.60, with a volume of 772337 shares traded. The stock had previously closed at $21.66.

A number of other equities analysts have also weighed in on BKSY. Canaccord Genuity Group upped their target price on BlackSky Technology from $14.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, June 26th. Benchmark increased their price target on BlackSky Technology from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, May 13th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $23.00.

Institutional Investors Weigh In On BlackSky Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. boosted its stake in BlackSky Technology by 115.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,626 shares of the company’s stock worth $28,000 after buying an additional 1,406 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of BlackSky Technology by 22.7% in the 4th quarter. BNP Paribas Financial Markets now owns 3,691 shares of the company’s stock worth $40,000 after buying an additional 683 shares during the period. Farther Finance Advisors LLC purchased a new stake in BlackSky Technology in the fourth quarter worth about $44,000. GAMMA Investing LLC lifted its holdings in BlackSky Technology by 14,829.2% during the first quarter. GAMMA Investing LLC now owns 7,166 shares of the company’s stock worth $55,000 after buying an additional 7,118 shares during the period. Finally, CIBC Private Wealth Group LLC purchased a new stake in shares of BlackSky Technology during the 4th quarter worth $76,000. 27.15% of the stock is owned by hedge funds and other institutional investors.

BlackSky Technology Trading Up 6.7%

The company’s 50-day simple moving average is $13.10 and its 200 day simple moving average is $11.88. 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 market capitalization of $731.75 million, a PE ratio of -9.01 and a beta of 2.07.

BlackSky Technology (NYSE:BKSY) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.42) EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $27.20 million. As a group, sell-side analysts expect that BlackSky Technology Inc. will post -2.28 EPS for the current year.

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.