Clear Str Upgrades BlackSky Technology (NYSE:BKSY) to “Strong-Buy”

BlackSky Technology (NYSE:BKSY) was upgraded by investment analysts at Clear Str from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other research analysts also recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of BlackSky Technology in a report on Friday, July 17th. Wall Street Zen downgraded BlackSky Technology from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 16th. Finally, Jefferies Financial Group raised BlackSky Technology to a “hold” rating in a report on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, BlackSky Technology has an average rating of “Moderate Buy” and a consensus target price of $39.33.

BlackSky Technology Price Performance

Shares of NYSE BKSY opened at $28.76 on Monday. The firm has a market capitalization of $1.18 billion, a P/E ratio of -15.80 and a beta of 2.61. The firm’s 50-day moving average price is $27.43 and its 200-day moving average price is $29.33. The company has a current ratio of 3.46, a quick ratio of 3.34 and a debt-to-equity ratio of 2.39. BlackSky Technology has a 1-year low of $12.41 and a 1-year high of $52.88.

BlackSky Technology (NYSE:BKSY) last issued its earnings results on Thursday, August 6th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.16). BlackSky Technology had a negative net margin of 61.24% and a negative return on equity of 68.90%. The firm had revenue of $33.32 million during the quarter, compared to analyst estimates of $30.72 million. Equities research analysts anticipate that BlackSky Technology will post -1.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BlackSky Technology

Several hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in shares of BlackSky Technology by 392.8% in the 4th quarter. Bank of New York Mellon Corp now owns 2,072,543 shares of the company’s stock worth $38,860,000 after buying an additional 1,652,014 shares during the last quarter. Tema ETFs LLC lifted its holdings in BlackSky Technology by 110,505.8% during the second quarter. Tema ETFs LLC now owns 1,446,724 shares of the company’s stock worth $40,393,000 after acquiring an additional 1,445,416 shares during the period. Daiwa Securities Group Inc. purchased a new position in BlackSky Technology in the fourth quarter worth $16,395,000. Goldman Sachs Group Inc. grew its stake in BlackSky Technology by 343.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 557,729 shares of the company’s stock valued at $4,311,000 after purchasing an additional 432,023 shares during the period. Finally, Wasatch Advisors LP purchased a new stake in shares of BlackSky Technology during the 3rd quarter valued at $8,278,000. 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.