BlackSky Technology Inc. (NYSE:BKSY) Receives $29.75 Average PT from Analysts

Shares of BlackSky Technology Inc. (NYSE:BKSY) have received an average recommendation of “Moderate Buy” from the five research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $29.75.

A number of brokerages have recently issued reports on BKSY. Wall Street Zen cut shares of BlackSky Technology from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 16th. Canaccord Genuity Group lowered their target price on shares of BlackSky Technology from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. HC Wainwright reissued a “buy” rating and issued a $42.00 price target on shares of BlackSky Technology in a research report on Friday, February 27th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of BlackSky Technology in a research note on Monday, April 20th.

BlackSky Technology Price Performance

Shares of NYSE:BKSY opened at $44.67 on Friday. The firm has a market capitalization of $1.66 billion, a PE ratio of -17.52 and a beta of 2.44. The company has a current ratio of 3.46, a quick ratio of 3.34 and a debt-to-equity ratio of 2.39. BlackSky Technology has a 1-year low of $9.88 and a 1-year high of $46.48. The business’s 50 day moving average is $33.20 and its 200-day moving average is $25.11.

BlackSky Technology (NYSE:BKSY) last issued its earnings results on Thursday, May 7th. The company reported ($0.82) EPS 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 firm had revenue of $20.77 million during the quarter, compared to analyst estimates of $27.60 million. Sell-side analysts predict that BlackSky Technology will post -1.32 earnings per share for the current year.

Hedge Funds Weigh In On BlackSky Technology

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Round Rock Advisors LLC acquired a new position in BlackSky Technology in the fourth quarter valued at about $681,000. LBP AM SA increased its holdings in shares of BlackSky Technology by 37.3% during the fourth quarter. LBP AM SA now owns 497,187 shares of the company’s stock worth $9,322,000 after buying an additional 135,013 shares in the last quarter. Divisadero Street Capital Management LP increased its holdings in shares of BlackSky Technology by 42.8% during the third quarter. Divisadero Street Capital Management LP now owns 365,910 shares of the company’s stock worth $7,373,000 after buying an additional 109,610 shares in the last quarter. Principal Financial Group Inc. bought a new position in shares of BlackSky Technology in the third quarter valued at approximately $1,310,000. Finally, Portolan Capital Management LLC bought a new position in shares of BlackSky Technology in the third quarter valued at approximately $7,855,000. Institutional investors 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.