BlackSky Technology Inc. (NYSE:BKSY) Receives $27.40 Average PT from Brokerages

Shares of BlackSky Technology Inc. (NYSE:BKSY) have been given a consensus rating of “Moderate Buy” by the six ratings firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $27.40.

Several brokerages have issued reports on BKSY. Canaccord Genuity Group lowered their target price on BlackSky Technology from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Wall Street Zen upgraded shares of BlackSky Technology from a “strong sell” rating to a “hold” rating in a research note on Saturday, March 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BlackSky Technology in a report on Monday. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $42.00 price objective on shares of BlackSky Technology in a report on Friday, February 27th.

BlackSky Technology Stock Performance

NYSE:BKSY opened at $40.62 on Monday. The company has a debt-to-equity ratio of 2.04, a current ratio of 3.48 and a quick ratio of 3.37. The business has a fifty day simple moving average of $26.74 and a two-hundred day simple moving average of $23.38. BlackSky Technology has a 1 year low of $7.19 and a 1 year high of $42.75. The company has a market capitalization of $1.51 billion, a P/E ratio of -18.89 and a beta of 2.25.

BlackSky Technology (NYSE:BKSY) last issued its earnings results on Thursday, February 26th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.06. The firm had revenue of $35.21 million for the quarter, compared to analyst estimates of $37.13 million. BlackSky Technology had a negative return on equity of 53.94% and a negative net margin of 65.93%. On average, analysts expect that BlackSky Technology will post -1.33 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its holdings in BlackSky Technology by 392.8% in the 4th quarter. Bank of New York Mellon Corp now owns 2,072,543 shares of the company’s stock worth $38,860,000 after buying an additional 1,652,014 shares during the period. Vanguard Group Inc. boosted its holdings in BlackSky Technology by 7.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,697,683 shares of the company’s stock worth $34,208,000 after buying an additional 123,171 shares during the period. State Street Corp boosted its holdings in BlackSky Technology by 63.3% in the 4th quarter. State Street Corp now owns 996,019 shares of the company’s stock worth $18,675,000 after buying an additional 386,207 shares during the period. Daiwa Securities Group Inc. bought a new position in BlackSky Technology in the 4th quarter worth approximately $16,395,000. Finally, Geode Capital Management LLC boosted its holdings in BlackSky Technology by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 718,490 shares of the company’s stock worth $13,474,000 after buying an additional 22,695 shares during the period. 27.15% of the stock is owned by institutional investors.

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.