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

Key Points

• Analysts consensus "Moderate Buy" — six firms cover BKSY (five buy, one sell) and the average 12‑month target price is $27.40.
• Recent performance and fundamentals show mixed signals: the stock opened at $37.52 (52‑week range $6.44–$40.62; 50‑/200‑day MAs $25.77/$23.07), the company reported Q quarterly EPS of ($0.19) which beat estimates by $0.06 but revenue missed and margins/ROE remain deeply negative.
• Institutional buying has picked up — Bank of New York Mellon and Goldman Sachs significantly increased stakes and institutions now own about 27.15% of the shares.

Shares of BlackSky Technology Inc. (NYSE:BKSY - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the six ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $27.40.

BKSY has been the subject of a number of recent research reports. HC Wainwright restated a "buy" rating and set a $42.00 target price on shares of BlackSky Technology in a research report on Friday, February 27th. Canaccord Genuity Group dropped their target price on BlackSky Technology from $27.00 to $26.00 and set a "buy" rating for the company in a research report on Friday, February 27th. Jefferies Financial Group initiated coverage on BlackSky Technology in a research report on Monday, December 22nd. They set a "buy" rating and a $23.00 target price for the company. Weiss Ratings restated a "sell (d-)" rating on shares of BlackSky Technology in a research report on Wednesday, January 21st. Finally, Wall Street Zen upgraded BlackSky Technology from a "strong sell" rating to a "hold" rating in a research report on Saturday, March 21st.

BlackSky Technology Price Performance

BlackSky Technology stock opened at $37.52 on Monday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 3.37 and a current ratio of 3.48. The firm has a market cap of $1.39 billion, a P/E ratio of -17.45 and a beta of 2.25. The business's fifty day moving average is $25.77 and its two-hundred day moving average is $23.07. BlackSky Technology has a 52 week low of $6.44 and a 52 week high of $40.62.

BlackSky Technology (NYSE:BKSY - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.19) EPS for the quarter, topping analysts' consensus estimates of ($0.25) by $0.06. The company had revenue of $35.21 million for the quarter, compared to analyst estimates of $37.13 million. BlackSky Technology had a negative return on equity of 53.94% and a negative net margin of 65.93%. Equities research analysts forecast 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 institutional investors and hedge funds have recently made changes to their positions in BKSY. Bank of New York Mellon Corp raised its position in shares of BlackSky Technology by 392.8% during the fourth quarter. Bank of New York Mellon Corp now owns 2,072,543 shares of the company's stock worth $38,860,000 after acquiring an additional 1,652,014 shares during the last quarter. Daiwa Securities Group Inc. bought a new stake in shares of BlackSky Technology during the fourth quarter worth $16,395,000. Goldman Sachs Group Inc. raised its position in shares of BlackSky Technology by 343.7% during the first quarter. Goldman Sachs Group Inc. now owns 557,729 shares of the company's stock worth $4,311,000 after acquiring an additional 432,023 shares during the last quarter. Wasatch Advisors LP bought a new stake in shares of BlackSky Technology during the third quarter worth $8,278,000. Finally, Portolan Capital Management LLC bought a new stake in shares of BlackSky Technology during the third quarter worth $7,855,000. Institutional investors own 27.15% of the company's stock.

BlackSky Technology Company Profile

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.

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