BlackSky Technology (NYSE:BKSY) Coverage Initiated by Analysts at Jefferies Financial Group

Analysts at Jefferies Financial Group started coverage on shares of BlackSky Technology (NYSE:BKSY) in a report issued on Monday,Benzinga reports. The firm set a “buy” rating and a $23.00 price target on the stock. Jefferies Financial Group’s target price would suggest a potential upside of 19.11% from the company’s current price.

Several other equities research analysts have also recently issued reports on BKSY. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BlackSky Technology in a research report on Wednesday, October 8th. HC Wainwright lifted their price target on BlackSky Technology from $28.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, October 10th. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $28.00.

BlackSky Technology Stock Performance

Shares of BlackSky Technology stock opened at $19.31 on Monday. The business has a 50-day simple moving average of $19.25 and a 200-day simple moving average of $19.19. The company has a debt-to-equity ratio of 2.08, a quick ratio of 3.89 and a current ratio of 3.89. BlackSky Technology has a one year low of $6.15 and a one year high of $33.20. The company has a market cap of $694.97 million, a PE ratio of -6.15 and a beta of 2.41.

BlackSky Technology (NYSE:BKSY) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.02. BlackSky Technology had a negative net margin of 87.11% and a negative return on equity of 54.48%. The company had revenue of $19.62 million during the quarter, compared to the consensus estimate of $28.67 million. On average, equities research analysts forecast that BlackSky Technology will post -2.28 EPS for the current fiscal year.

Hedge Funds Weigh In On BlackSky Technology

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of BlackSky Technology by 7.8% during the third quarter. Vanguard Group Inc. now owns 1,697,683 shares of the company’s stock worth $34,208,000 after purchasing an additional 123,171 shares in the last quarter. Geode Capital Management LLC grew its stake in BlackSky Technology by 7.3% during the 2nd quarter. Geode Capital Management LLC now owns 612,919 shares of the company’s stock worth $12,616,000 after buying an additional 41,922 shares during the last quarter. Goldman Sachs Group Inc. increased its position in 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 buying an additional 432,023 shares during the period. Jump Financial LLC increased its position in BlackSky Technology by 128.2% during the second quarter. Jump Financial LLC now owns 480,048 shares of the company’s stock worth $9,879,000 after buying an additional 269,700 shares during the period. Finally, Invesco Ltd. lifted its stake in BlackSky Technology by 94.9% in the second quarter. Invesco Ltd. now owns 423,845 shares of the company’s stock valued at $8,723,000 after buying an additional 206,371 shares during the last quarter. Institutional investors and hedge funds own 27.15% of the company’s stock.

BlackSky Technology Company Profile

BlackSky Technology, Inc operates Earth observation and geospatial intelligence services through a constellation of small satellites and an analytics platform. The company collects and processes high-revisit satellite imagery, enabling near-real-time monitoring of global events and locations. Clients across government, defense and commercial sectors leverage BlackSky’s imagery and data to support decision-making in areas such as supply chain monitoring, humanitarian aid, infrastructure management and security operations.

Founded in 2014 as part of Spaceflight Industries, BlackSky has grown its satellite constellation and analytics capabilities to deliver satellite imagery with high revisit rates and rapid tasking.