BlackSky Technology Inc. (NYSE:BKSY) Receives $23.50 Consensus PT from Brokerages

BlackSky Technology Inc. (NYSE:BKSY) has earned a consensus recommendation of “Buy” from the six brokerages that are covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $23.50.

A number of research analysts have recently commented on BKSY shares. Lake Street Capital upped their target price on BlackSky Technology from $18.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Benchmark upped their target price on BlackSky Technology from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, May 13th. Canaccord Genuity Group cut their target price on BlackSky Technology from $28.00 to $27.00 and set a “buy” rating on the stock in a research note on Tuesday, July 22nd. HC Wainwright upped their target price on BlackSky Technology from $20.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, July 21st. Finally, Wall Street Zen cut BlackSky Technology from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 9th.

BlackSky Technology Price Performance

NYSE:BKSY opened at $18.08 on Wednesday. The company has a quick ratio of 3.79, a current ratio of 3.71 and a debt-to-equity ratio of 1.35. The business’s 50-day simple moving average is $18.74 and its two-hundred day simple moving average is $13.74. The stock has a market cap of $641.30 million, a PE ratio of -5.38 and a beta of 2.09. BlackSky Technology has a 52 week low of $3.86 and a 52 week high of $28.85.

BlackSky Technology (NYSE:BKSY) last issued its earnings results on Thursday, August 7th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.03). BlackSky Technology had a negative return on equity of 52.27% and a negative net margin of 82.04%. The firm had revenue of $22.20 million during the quarter, compared to the consensus estimate of $22.17 million. As a group, analysts forecast that BlackSky Technology will post -2.28 EPS for the current fiscal year.

Hedge Funds Weigh In On BlackSky Technology

Hedge funds have recently made changes to their positions in the company. Summit Investment Advisors Inc. lifted its stake in BlackSky Technology by 115.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,626 shares of the company’s stock valued at $28,000 after buying an additional 1,406 shares in the last quarter. IFP Advisors Inc lifted its stake in BlackSky Technology by 35,575.0% in the 2nd quarter. IFP Advisors Inc now owns 1,427 shares of the company’s stock valued at $32,000 after buying an additional 1,423 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in BlackSky Technology by 6,937.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,689 shares of the company’s stock valued at $35,000 after buying an additional 1,665 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in BlackSky Technology by 22.7% in the 4th quarter. BNP Paribas Financial Markets now owns 3,691 shares of the company’s stock valued at $40,000 after buying an additional 683 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in BlackSky Technology by 14,829.2% in the 1st quarter. GAMMA Investing LLC now owns 7,166 shares of the company’s stock valued at $55,000 after buying an additional 7,118 shares in the last quarter. 27.15% of the stock is owned by institutional investors and hedge funds.

About BlackSky Technology

BlackSky Technology Inc provides geospatial intelligence, imagery and related data analytic products and services, and mission systems that include the development, integration, and operation of satellite and ground systems for government and commercial customers in North America, the Middle East, the Asia Pacific, and internationally.