Daiwa Securities Group Inc. Makes New Investment in BlackSky Technology Inc. $BKSY

Daiwa Securities Group Inc. bought a new position in BlackSky Technology Inc. (NYSE:BKSY) during the 4th quarter, Holdings Channel.com reports. The fund bought 874,389 shares of the company’s stock, valued at approximately $16,395,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Global Retirement Partners LLC purchased a new position in BlackSky Technology in the fourth quarter worth about $28,000. Wexford Capital LP purchased a new position in BlackSky Technology in the third quarter worth about $30,000. IFP Advisors Inc boosted its position in BlackSky Technology by 57.9% in the third quarter. IFP Advisors Inc now owns 2,253 shares of the company’s stock worth $45,000 after purchasing an additional 826 shares during the last quarter. Jones Financial Companies Lllp purchased a new position in BlackSky Technology in the third quarter worth about $50,000. Finally, Russell Investments Group Ltd. purchased a new position in BlackSky Technology in the third quarter worth about $53,000. 27.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Jefferies Financial Group cut BlackSky Technology from a “buy” rating to a “hold” rating and set a $50.00 target price on the stock. in a research report on Monday, June 1st. Canaccord Genuity Group lowered their price objective on BlackSky Technology from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. HC Wainwright reaffirmed a “buy” rating and set a $42.00 price objective on shares of BlackSky Technology in a research report on Friday, February 27th. Wall Street Zen cut BlackSky Technology from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BlackSky Technology in a research report on Monday, April 20th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $36.50.

BlackSky Technology Stock Down 12.0%

BKSY stock opened at $34.91 on Friday. BlackSky Technology Inc. has a twelve month low of $10.80 and a twelve month high of $52.88. The company has a quick ratio of 3.34, a current ratio of 3.46 and a debt-to-equity ratio of 2.39. The stock has a market cap of $1.30 billion, a P/E ratio of -13.69 and a beta of 2.52. The business’s 50-day moving average price is $37.49 and its 200-day moving average price is $27.22.

BlackSky Technology (NYSE:BKSY) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.45). BlackSky Technology had a negative net margin of 89.07% and a negative return on equity of 74.25%. The company had revenue of $20.77 million for the quarter, compared to analysts’ expectations of $27.60 million. On average, equities research analysts forecast that BlackSky Technology Inc. will post -1.32 EPS 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.