BlackSky Technology Inc. (NYSE:BKSY) Receives Average Recommendation of “Hold” from Analysts

BlackSky Technology Inc. (NYSE:BKSY) has been given a consensus recommendation of “Hold” by the five research firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $36.50.

A number of research firms recently weighed in on BKSY. HC Wainwright reissued a “buy” rating and set a $42.00 target price on shares of BlackSky Technology in a research report on Friday, February 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of BlackSky Technology in a research report on Monday, April 20th. Canaccord Genuity Group decreased their target price 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. Wall Street Zen downgraded BlackSky Technology from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 16th. Finally, Jefferies Financial Group raised BlackSky Technology to a “hold” rating in a research report on Wednesday, June 10th.

BlackSky Technology Trading Down 3.9%

Shares of NYSE:BKSY opened at $31.16 on Tuesday. The company has a market cap of $1.16 billion, a P/E ratio of -12.22 and a beta of 2.52. The stock’s 50-day moving average is $38.30 and its 200-day moving average is $28.06. BlackSky Technology has a 52-week low of $11.12 and a 52-week high of $52.88. 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 (NYSE:BKSY) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $20.77 million during the quarter, compared to analyst estimates of $27.60 million. Equities research analysts predict that BlackSky Technology will post -1.32 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its stake in BlackSky Technology by 156.1% during the first quarter. Bank of America Corp DE now owns 412,891 shares of the company’s stock worth $10,388,000 after purchasing an additional 251,638 shares during the period. The Manufacturers Life Insurance Company bought a new position in BlackSky Technology during the first quarter worth about $217,000. Quantinno Capital Management LP bought a new position in BlackSky Technology during the first quarter worth about $343,000. Sei Investments Co. lifted its stake in BlackSky Technology by 125.5% during the first quarter. Sei Investments Co. now owns 65,650 shares of the company’s stock worth $1,652,000 after purchasing an additional 36,541 shares during the period. Finally, Cetera Investment Advisers lifted its stake in BlackSky Technology by 27.0% during the first quarter. Cetera Investment Advisers now owns 15,252 shares of the company’s stock worth $384,000 after purchasing an additional 3,244 shares during the period. Institutional investors own 27.15% of the company’s stock.

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.