Brokerages Set BlackSky Technology Inc. (NYSE:BKSY) Target Price at $28.00

BlackSky Technology Inc. (NYSE:BKSY) has been given a consensus recommendation of “Moderate Buy” by the seven analysts that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $28.00.

BKSY has been the subject of a number of recent analyst reports. HC Wainwright upped their target price on BlackSky Technology from $28.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BlackSky Technology in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group began coverage on shares of BlackSky Technology in a research note on Monday, December 22nd. They set a “buy” rating and a $23.00 price objective on the stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BKSY. Goldman Sachs Group Inc. grew its holdings in shares of BlackSky Technology by 343.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 557,729 shares of the company’s stock valued at $4,311,000 after purchasing an additional 432,023 shares during the last quarter. Geode Capital Management LLC lifted its stake in BlackSky Technology by 7.3% in the 2nd quarter. Geode Capital Management LLC now owns 612,919 shares of the company’s stock valued at $12,616,000 after purchasing an additional 41,922 shares during the last quarter. LBP AM SA boosted its position in BlackSky Technology by 198.1% in the second quarter. LBP AM SA now owns 112,905 shares of the company’s stock valued at $2,324,000 after buying an additional 75,024 shares in the last quarter. Prescott Group Capital Management L.L.C. bought a new stake in shares of BlackSky Technology during the second quarter worth $1,049,000. Finally, Jump Financial LLC grew its stake in shares of 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 last quarter. 27.15% of the stock is owned by institutional investors.

BlackSky Technology Stock Performance

Shares of NYSE:BKSY opened at $26.56 on Friday. BlackSky Technology has a 12-month low of $6.15 and a 12-month high of $33.20. The company’s 50 day moving average price is $18.52 and its two-hundred day moving average price is $20.12. The firm has a market cap of $956.00 million, a PE ratio of -8.46 and a beta of 2.42. The company has a quick ratio of 3.89, a current ratio of 3.89 and a debt-to-equity ratio of 2.08.

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

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.