BlackSky Technology (NYSE:BKSY) Sets New 12-Month High Following Analyst Upgrade

BlackSky Technology Inc. (NYSE:BKSY - Get Free Report)'s share price reached a new 52-week high during mid-day 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 trading hands. The stock had previously closed at $21.66.

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

Institutional Trading of BlackSky Technology

A number of hedge funds have recently bought and sold shares of the stock. Nuveen LLC acquired a new stake in BlackSky Technology in the 1st quarter valued at about $9,582,000. Mithril II GP LP acquired a new stake in BlackSky Technology in the 4th quarter valued at about $11,116,000. Goldman Sachs Group Inc. grew its position 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 buying an additional 432,023 shares during the period. Invesco Ltd. acquired a new stake in shares of BlackSky Technology during the 4th quarter worth approximately $3,868,000. Finally, Trexquant Investment LP grew its position in shares of BlackSky Technology by 2,309.8% during the 4th quarter. Trexquant Investment LP now owns 301,590 shares of the company's stock worth $3,254,000 after buying an additional 289,075 shares during the period. 27.15% of the stock is owned by institutional investors.

BlackSky Technology Stock Performance

The firm's 50-day moving average price is $13.95 and its 200 day moving average price is $12.11. The company has a debt-to-equity ratio of 1.26, a quick ratio of 3.79 and a current ratio of 3.79. The company has a market cap of $716.33 million, a price-to-earnings ratio of -8.75 and a beta of 2.07.

BlackSky Technology (NYSE:BKSY - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.47) by $0.05. The firm had revenue of $29.54 million during the quarter, compared to analysts' expectations of $27.20 million. BlackSky Technology had a negative net margin of 50.30% and a negative return on equity of 45.63%. On average, sell-side 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.