BlackSky Technology (NYSE:BKSY) Lowered to “Strong Sell” Rating by Wall Street Zen

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

Other equities research analysts have also issued reports about the company. Lake Street Capital increased their price target on BlackSky Technology from $18.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. HC Wainwright increased their price target on BlackSky Technology from $20.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, July 21st. Canaccord Genuity Group lowered their price target on BlackSky Technology from $28.00 to $27.00 and set a “buy” rating for the company in a research report on Tuesday, July 22nd. Finally, Benchmark increased their price target on BlackSky Technology from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, May 13th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, BlackSky Technology has a consensus rating of “Moderate Buy” and an average target price of $23.50.

BlackSky Technology Price Performance

Shares of BKSY opened at $17.20 on Friday. BlackSky Technology has a 12-month low of $3.86 and a 12-month high of $28.85. The business’s fifty day moving average is $18.26 and its 200 day moving average is $13.62. The company has a quick ratio of 3.79, a current ratio of 3.79 and a debt-to-equity ratio of 1.26. The stock has a market cap of $610.05 million, a P/E ratio of -5.12 and a beta of 2.09.

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 analysts’ consensus estimates of ($0.49) by ($0.03). BlackSky Technology had a negative return on equity of 50.78% 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. Sell-side analysts anticipate that BlackSky Technology will post -2.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BlackSky Technology

A number of hedge funds have recently made changes to their positions in BKSY. Nuveen LLC bought a new stake in shares of BlackSky Technology during the 1st quarter worth $9,582,000. Mithril II GP LP bought a new stake in shares of BlackSky Technology during the 4th quarter worth $11,116,000. Goldman Sachs Group Inc. raised its stake in shares of BlackSky Technology by 343.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 557,729 shares of the company’s stock worth $4,311,000 after purchasing an additional 432,023 shares during the period. Invesco Ltd. bought a new stake in shares of BlackSky Technology during the 4th quarter worth $3,868,000. Finally, Geode Capital Management LLC raised its stake in shares of BlackSky Technology by 94.2% during the 4th quarter. Geode Capital Management LLC now owns 551,444 shares of the company’s stock worth $5,951,000 after purchasing an additional 267,427 shares during the period. 27.15% of the stock is currently owned by institutional investors.

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.