BlackSky Technology (NYSE:BKSY) Sets New 1-Year High on Analyst Upgrade

BlackSky Technology Inc. (NYSE:BKSY - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday after HC Wainwright raised their price target on the stock from $20.00 to $28.00. HC Wainwright currently has a buy rating on the stock. BlackSky Technology traded as high as $24.94 and last traded at $23.60, with a volume of 772337 shares changing hands. The stock had previously closed at $21.66.

A number of other equities analysts have also recently issued reports on BKSY. Benchmark upped their price objective on shares of BlackSky Technology from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Canaccord Genuity Group boosted their target price on shares of BlackSky Technology from $14.00 to $20.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $23.00.

Institutional Investors Weigh In On BlackSky Technology

A number of institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets boosted its stake in shares of 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 purchasing an additional 683 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in BlackSky Technology by 7.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,174 shares of the company's stock worth $117,000 after acquiring an additional 1,015 shares in the last quarter. Summit Investment Advisors Inc. boosted its stake in 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 in the last quarter. Bridgeway Capital Management LLC boosted its stake in BlackSky Technology by 2.9% during the fourth quarter. Bridgeway Capital Management LLC now owns 59,450 shares of the company's stock worth $641,000 after acquiring an additional 1,700 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in BlackSky Technology by 4.5% during the first quarter. Bank of New York Mellon Corp now owns 58,850 shares of the company's stock worth $455,000 after acquiring an additional 2,552 shares in the last quarter. 27.15% of the stock is owned by institutional investors.

BlackSky Technology Stock Performance

The firm has a market capitalization of $744.76 million, a P/E ratio of -9.16 and a beta of 2.07. The company's 50 day moving average is $13.65 and its 200-day moving average is $12.02. The company has a quick ratio of 3.79, a current ratio of 3.79 and a debt-to-equity ratio of 1.26.

BlackSky Technology (NYSE:BKSY - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.05. The business had revenue of $29.54 million for the quarter, compared to analyst estimates of $27.20 million. BlackSky Technology had a negative net margin of 50.30% and a negative return on equity of 45.63%. As a group, equities analysts anticipate that BlackSky Technology Inc. will post -2.28 EPS 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.