Brokerages Set BlackSky Technology Inc. (NYSE:BKSY) Price Target at $29.75

BlackSky Technology Inc. (NYSE:BKSY) has earned an average rating of “Moderate Buy” from the five research firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $29.75.

A number of equities analysts have commented on BKSY shares. HC Wainwright restated a “buy” rating and set a $42.00 price objective on shares of BlackSky Technology in a research report on Friday, February 27th. Wall Street Zen downgraded shares of BlackSky Technology from a “hold” rating to a “strong sell” rating in a research report on Saturday. Canaccord Genuity Group cut their price objective on shares of BlackSky Technology from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of BlackSky Technology in a research report on Monday, April 20th.

Hedge Funds Weigh In On BlackSky Technology

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE grew its stake in shares of BlackSky Technology by 156.1% during the 1st 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 acquired a new position in shares of BlackSky Technology during the 1st quarter worth $217,000. Quantinno Capital Management LP acquired a new position in shares of BlackSky Technology during the 1st quarter worth $343,000. Sei Investments Co. grew its stake in shares of BlackSky Technology by 125.5% during the 1st 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 grew its stake in shares of BlackSky Technology by 27.0% during the 1st 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. 27.15% of the stock is owned by institutional investors and hedge funds.

BlackSky Technology Stock Up 5.0%

Shares of BlackSky Technology stock opened at $45.15 on Friday. The company has a market cap of $1.68 billion, a P/E ratio of -17.71 and a beta of 2.44. 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 $9.88 and a one year high of $45.50. The firm has a fifty day moving average of $32.37 and a two-hundred day moving average of $24.76.

BlackSky Technology (NYSE:BKSY) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.82) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.45). The firm had revenue of $20.77 million for the quarter, compared to analysts’ expectations of $27.60 million. BlackSky Technology had a negative return on equity of 74.25% and a negative net margin of 89.07%. On average, analysts forecast that BlackSky Technology will post -1.32 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.