BlackSky Technology Inc. (NYSE:BKSY) Receives Consensus Recommendation of “Moderate Buy” from Analysts

BlackSky Technology Inc. (NYSE:BKSY) has been assigned a consensus rating of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $27.40.

A number of equities research analysts recently commented on BKSY shares. HC Wainwright reaffirmed 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 objective on BlackSky Technology from $27.00 to $26.00 and set a “buy” rating for the company in a report on Friday, February 27th. Jefferies Financial Group initiated coverage on BlackSky Technology in a research report on Monday, December 22nd. They issued a “buy” rating and a $23.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of BlackSky Technology in a research note on Wednesday, January 21st. Finally, Wall Street Zen raised BlackSky Technology from a “strong sell” rating to a “hold” rating in a research report on Saturday, March 21st.

Institutional Investors Weigh In On BlackSky Technology

Several institutional investors have recently added to or reduced their stakes in BKSY. Bank of New York Mellon Corp boosted its position in BlackSky Technology by 392.8% during the fourth quarter. Bank of New York Mellon Corp now owns 2,072,543 shares of the company’s stock worth $38,860,000 after purchasing an additional 1,652,014 shares during the period. Vanguard Group Inc. raised its position in shares of BlackSky Technology by 7.8% in the third quarter. Vanguard Group Inc. now owns 1,697,683 shares of the company’s stock valued at $34,208,000 after purchasing an additional 123,171 shares during the period. State Street Corp raised its position in shares of BlackSky Technology by 63.3% in the fourth quarter. State Street Corp now owns 996,019 shares of the company’s stock valued at $18,675,000 after purchasing an additional 386,207 shares during the period. Daiwa Securities Group Inc. purchased a new stake in shares of BlackSky Technology during the 4th quarter valued at approximately $16,395,000. Finally, Geode Capital Management LLC lifted its stake in shares of BlackSky Technology by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 718,490 shares of the company’s stock valued at $13,474,000 after buying an additional 22,695 shares in the last quarter. 27.15% of the stock is owned by hedge funds and other institutional investors.

BlackSky Technology Stock Performance

Shares of BKSY stock opened at $27.53 on Thursday. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -12.81 and a beta of 2.24. The company has a debt-to-equity ratio of 2.04, a quick ratio of 3.37 and a current ratio of 3.48. BlackSky Technology has a 52 week low of $6.15 and a 52 week high of $33.20. The firm’s 50-day simple moving average is $23.51 and its two-hundred day simple moving average is $21.93.

BlackSky Technology (NYSE:BKSY) last released its earnings results on Thursday, February 26th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.06. BlackSky Technology had a negative net margin of 65.93% and a negative return on equity of 53.94%. The firm had revenue of $35.21 million during the quarter, compared to the consensus estimate of $37.13 million. As a group, equities analysts forecast that BlackSky Technology will post -2.28 earnings per share for the current year.

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.