BlackSky Technology Inc. (NYSE:BKSY) Receives Average Recommendation of "Buy" from Analysts

Key Points

• BlackSky Technology Inc. has received an average rating of "Buy" from six analysts, with a twelve-month target price set at $23.50.
• Institutional investors have increased their investments in BlackSky Technology, with new stakes valued at over $22 million being added in recent quarters.
• The company reported a quarterly loss of ($0.52) EPS, failing to meet analysts' expectations, despite generating $22.20 million in revenue.

BlackSky Technology Inc. (NYSE:BKSY - Get Free Report) has been assigned an average rating of "Buy" from the six analysts that are currently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $23.50.

Several equities analysts have commented on BKSY shares. Benchmark raised their target price on shares of 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 dropped their price target on shares of BlackSky Technology from $28.00 to $27.00 and set a "buy" rating on the stock in a research report on Tuesday, July 22nd. Wall Street Zen cut shares of BlackSky Technology from a "hold" rating to a "strong sell" rating in a research report on Saturday. Lake Street Capital boosted their price target on shares of BlackSky Technology from $18.00 to $28.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, HC Wainwright boosted their price target on shares of BlackSky Technology from $20.00 to $28.00 and gave the stock a "buy" rating in a research report on Monday, July 21st.

Institutional Investors Weigh In On BlackSky Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nuveen LLC bought a new stake in shares of BlackSky Technology in the first quarter valued at approximately $9,582,000. Mithril II GP LP bought a new stake in shares of BlackSky Technology in the fourth quarter valued at approximately $11,116,000. Goldman Sachs Group Inc. boosted its position in shares of BlackSky Technology by 343.7% in the first quarter. Goldman Sachs Group Inc. now owns 557,729 shares of the company's stock valued at $4,311,000 after acquiring an additional 432,023 shares during the period. Invesco Ltd. bought a new stake in shares of BlackSky Technology in the fourth quarter valued at approximately $3,868,000. Finally, Geode Capital Management LLC boosted its position in shares of BlackSky Technology by 94.2% in the fourth quarter. Geode Capital Management LLC now owns 551,444 shares of the company's stock valued at $5,951,000 after acquiring an additional 267,427 shares during the period. 27.15% of the stock is currently owned by institutional investors and hedge funds.

BlackSky Technology Stock Performance

BlackSky Technology stock opened at $17.44 on Wednesday. The company has a debt-to-equity ratio of 1.35, a current ratio of 3.71 and a quick ratio of 3.79. The company has a market cap of $618.60 million, a PE ratio of -5.19 and a beta of 2.09. BlackSky Technology has a 12 month low of $3.86 and a 12 month high of $28.85. The company has a fifty day moving average price of $18.38 and a two-hundred day moving average price of $13.65.

BlackSky Technology (NYSE:BKSY - Get Free Report) last posted 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). The company had revenue of $22.20 million during the quarter, compared to the consensus estimate of $22.17 million. BlackSky Technology had a negative net margin of 82.04% and a negative return on equity of 52.27%. Research analysts expect that BlackSky Technology will post -2.28 earnings per share for the current year.

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.

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