BlackSky Technology Inc. (NYSE:BKSY) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of BlackSky Technology Inc. (NYSE:BKSY) have earned a consensus rating of “Moderate Buy” from the six analysts that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $29.00.

A number of research analysts have weighed in on the stock. HC Wainwright upped their price objective on shares of BlackSky Technology from $28.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of BlackSky Technology in a research report on Wednesday, October 8th.

Institutional Investors Weigh In On BlackSky Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in BKSY. Wexford Capital LP purchased a new position in BlackSky Technology during the third quarter valued at $30,000. IFP Advisors Inc raised its position in shares of BlackSky Technology by 35,575.0% during the 2nd quarter. IFP Advisors Inc now owns 1,427 shares of the company’s stock worth $32,000 after purchasing an additional 1,423 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of BlackSky Technology by 6,937.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,689 shares of the company’s stock worth $35,000 after purchasing an additional 1,665 shares during the last quarter. Jones Financial Companies Lllp purchased a new position in BlackSky Technology in the 3rd quarter valued at about $50,000. Finally, Russell Investments Group Ltd. acquired a new stake in BlackSky Technology in the 3rd quarter worth about $53,000. Hedge funds and other institutional investors own 27.15% of the company’s stock.

BlackSky Technology Trading Up 10.5%

BlackSky Technology stock opened at $19.31 on Tuesday. The firm has a market cap of $694.97 million, a PE ratio of -6.15 and a beta of 2.41. BlackSky Technology has a 12 month low of $6.15 and a 12 month high of $33.20. The stock’s 50 day simple moving average is $19.25 and its two-hundred day simple moving average is $19.14. The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 2.08.

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

About BlackSky Technology

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.