Brokerages Set BlackSky Technology Inc. (NYSE:BKSY) Target Price at $23.50

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 given an average recommendation of "Buy" by the six research firms that are covering the firm, MarketBeat reports. Six research analysts have rated the stock with a buy recommendation. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $23.50.

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

BlackSky Technology Stock Performance

Shares of NYSE:BKSY traded down $0.09 during midday trading on Wednesday, hitting $18.08. The company's stock had a trading volume of 1,323,210 shares, compared to its average volume of 2,426,448. The stock has a market capitalization of $641.21 million, a price-to-earnings ratio of -5.38 and a beta of 2.09. The stock's 50 day simple moving average is $18.74 and its 200 day simple moving average is $13.75. BlackSky Technology has a fifty-two week low of $3.86 and a fifty-two week high of $28.85. The company has a debt-to-equity ratio of 1.35, a quick ratio of 3.79 and a current ratio of 3.71.

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

Institutional Investors Weigh In On BlackSky Technology

Several hedge funds and other institutional investors have recently made changes to their positions in BKSY. Summit Investment Advisors Inc. raised its position in shares of BlackSky Technology by 115.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,626 shares of the company's stock worth $28,000 after acquiring an additional 1,406 shares during the last quarter. IFP Advisors Inc raised its position in shares of BlackSky Technology by 35,575.0% during the second quarter. IFP Advisors Inc now owns 1,427 shares of the company's stock worth $32,000 after acquiring an additional 1,423 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of BlackSky Technology by 6,937.5% during the second quarter. Nisa Investment Advisors LLC now owns 1,689 shares of the company's stock worth $35,000 after acquiring an additional 1,665 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of BlackSky Technology by 22.7% during the fourth quarter. BNP Paribas Financial Markets now owns 3,691 shares of the company's stock worth $40,000 after acquiring an additional 683 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of BlackSky Technology by 14,829.2% during the first quarter. GAMMA Investing LLC now owns 7,166 shares of the company's stock worth $55,000 after acquiring an additional 7,118 shares during 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.