BlackSky Technology (NYSE:BKSY) Upgraded to “Hold” at Jefferies Financial Group

Jefferies Financial Group upgraded shares of BlackSky Technology (NYSE:BKSY) to a hold rating in a report released on Wednesday morning,Zacks.com reports.

Several other research analysts have also recently weighed in on BKSY. HC Wainwright reiterated a “buy” rating and issued a $42.00 price target on shares of BlackSky Technology in a report on Friday, February 27th. Canaccord Genuity Group reduced their price target on shares of BlackSky Technology from $27.00 to $26.00 and set a “buy” rating for the company in a report on Friday, February 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of BlackSky Technology in a report on Monday, April 20th. Finally, Wall Street Zen lowered shares of BlackSky Technology from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 16th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, BlackSky Technology currently has a consensus rating of “Hold” and a consensus target price of $36.50.

BlackSky Technology Stock Up 0.4%

Shares of NYSE BKSY opened at $31.77 on Wednesday. The stock has a market cap of $1.18 billion, a P/E ratio of -12.46 and a beta of 2.52. The firm has a 50 day moving average price of $37.98 and a 200 day moving average price of $27.71. The company has a debt-to-equity ratio of 2.39, a quick ratio of 3.34 and a current ratio of 3.46. BlackSky Technology has a 52-week low of $10.80 and a 52-week high of $52.88.

BlackSky Technology (NYSE:BKSY) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.82) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.45). The company had revenue of $20.77 million during the quarter, compared to analyst estimates of $27.60 million. BlackSky Technology had a negative net margin of 89.07% and a negative return on equity of 74.25%. Analysts expect that BlackSky Technology will post -1.32 EPS for the current year.

Institutional Trading of BlackSky Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in BKSY. Round Rock Advisors LLC bought a new position in shares of BlackSky Technology in the fourth quarter valued at about $681,000. LBP AM SA raised its position in shares of BlackSky Technology by 37.3% in the fourth quarter. LBP AM SA now owns 497,187 shares of the company’s stock valued at $9,322,000 after purchasing an additional 135,013 shares during the period. Divisadero Street Capital Management LP raised its position in shares of BlackSky Technology by 42.8% in the third quarter. Divisadero Street Capital Management LP now owns 365,910 shares of the company’s stock valued at $7,373,000 after purchasing an additional 109,610 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of BlackSky Technology in the fourth quarter valued at about $7,930,000. Finally, Principal Financial Group Inc. bought a new position in shares of BlackSky Technology in the third quarter valued at about $1,310,000. 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.