BlackSky Technology (NYSE:BKSY) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of BlackSky Technology (NYSE:BKSY) from a strong sell rating to a hold rating in a research report report published on Saturday.

Several other analysts also recently weighed in on the stock. Jefferies Financial Group started coverage on shares of BlackSky Technology in a research note on Monday, December 22nd. They issued a “buy” rating and a $23.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BlackSky Technology in a research note on Wednesday, January 21st. Canaccord Genuity Group decreased their price objective on BlackSky Technology from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Finally, HC Wainwright reissued a “buy” rating and issued a $42.00 target price on shares of BlackSky Technology in a research note on Friday, February 27th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $27.40.

BlackSky Technology Price Performance

Shares of NYSE:BKSY opened at $26.06 on Friday. The company’s fifty day moving average price is $23.70 and its 200-day moving average price is $21.43. The company has a debt-to-equity ratio of 2.04, a current ratio of 3.48 and a quick ratio of 3.89. The firm has a market capitalization of $964.11 million, a price-to-earnings ratio of -12.12 and a beta of 2.44. BlackSky Technology has a one year low of $6.15 and a one year high of $33.20.

BlackSky Technology (NYSE:BKSY) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.06. The company had revenue of $35.21 million during the quarter, compared to the consensus estimate of $37.13 million. BlackSky Technology had a negative net margin of 65.93% and a negative return on equity of 53.94%. On average, equities research analysts anticipate that BlackSky Technology will post -2.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Geode Capital Management LLC grew its position in BlackSky Technology by 7.3% during the second quarter. Geode Capital Management LLC now owns 612,919 shares of the company’s stock valued at $12,616,000 after buying an additional 41,922 shares during the period. Jump Financial LLC raised its position in BlackSky Technology by 128.2% in the second quarter. Jump Financial LLC now owns 480,048 shares of the company’s stock worth $9,879,000 after acquiring an additional 269,700 shares during the period. Divisadero Street Capital Management LP raised its position in BlackSky Technology by 42.8% in the third quarter. Divisadero Street Capital Management LP now owns 365,910 shares of the company’s stock worth $7,373,000 after acquiring an additional 109,610 shares during the period. LBP AM SA boosted its stake in shares of BlackSky Technology by 220.8% during the 3rd quarter. LBP AM SA now owns 362,174 shares of the company’s stock worth $7,298,000 after acquiring an additional 249,269 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new stake in shares of BlackSky Technology during the 3rd quarter valued at $1,310,000. 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.