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

BlackSky Technology (NYSE:BKSY) was downgraded by analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research note issued on Monday. They currently have a $50.00 price target on the stock. Jefferies Financial Group’s price target indicates a potential upside of 3.68% from the stock’s previous close.

A number of other research analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of BlackSky Technology from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 16th. Canaccord Genuity Group decreased their price target on shares of BlackSky Technology from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, February 27th. HC Wainwright reiterated a “buy” rating and issued a $42.00 price target on shares of BlackSky Technology in a research note on Friday, February 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of BlackSky Technology in a research note on Monday, April 20th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $36.50.

BlackSky Technology Trading Down 0.5%

NYSE BKSY opened at $48.22 on Monday. The firm has a 50 day simple moving average of $36.16 and a 200-day simple moving average of $26.43. 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 one year low of $10.61 and a one year high of $52.88. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of -18.91 and a beta of 2.52.

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 analysts’ consensus estimates of ($0.37) by ($0.45). BlackSky Technology had a negative return on equity of 74.25% and a negative net margin of 89.07%.The firm had revenue of $20.77 million during the quarter, compared to analysts’ expectations of $27.60 million. Equities research analysts anticipate that BlackSky Technology will post -1.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Quarry LP purchased a new position in shares of BlackSky Technology in the 4th quarter valued at $26,000. Strive Financial Group LLC purchased a new position in shares of BlackSky Technology in the 4th quarter valued at $26,000. Wexford Capital LP purchased a new position in shares of BlackSky Technology in the 3rd quarter valued at $30,000. Global Retirement Partners LLC purchased a new position in shares of BlackSky Technology in the 4th quarter valued at $28,000. Finally, Fifth Third Bancorp purchased a new position in shares of BlackSky Technology in the 1st quarter valued at $48,000. 27.15% of the stock is owned by hedge funds and other institutional investors.

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.