BlackSky Technology (NYSE:BKSY) Price Target Raised to $28.00

BlackSky Technology (NYSE:BKSY - Get Free Report) had its target price raised by research analysts at HC Wainwright from $20.00 to $28.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. HC Wainwright's price objective points to a potential upside of 24.50% from the company's previous close.

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

BlackSky Technology Trading Up 3.8%

NYSE:BKSY traded up $0.83 during trading hours on Tuesday, reaching $22.49. The company's stock had a trading volume of 2,817,263 shares, compared to its average volume of 1,075,287. The firm has a 50-day simple moving average of $13.10 and a 200-day simple moving average of $11.88. The company has a debt-to-equity ratio of 1.26, a quick ratio of 3.79 and a current ratio of 3.79. BlackSky Technology has a 1 year low of $3.86 and a 1 year high of $24.72. The firm has a market capitalization of $711.81 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 earnings results on Thursday, May 8th. The company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.47) by $0.05. The company had revenue of $29.54 million during the quarter, compared to analysts' expectations of $27.20 million. BlackSky Technology had a negative return on equity of 45.63% and a negative net margin of 50.30%. Research analysts expect that BlackSky Technology will post -2.28 EPS for the current fiscal year.

Institutional Investors Weigh In On BlackSky Technology

A number of large investors have recently made changes to their positions in BKSY. Summit Investment Advisors Inc. lifted its stake in BlackSky Technology by 115.2% in 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 period. BNP Paribas Financial Markets lifted its position 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 worth $40,000 after purchasing an additional 683 shares during the period. Farther Finance Advisors LLC bought a new stake in shares of BlackSky Technology during the 4th quarter valued at about $44,000. GAMMA Investing LLC increased 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 valued at $55,000 after buying an additional 7,118 shares during the period. Finally, New York State Common Retirement Fund raised its stake in BlackSky Technology by 217.0% in the first quarter. New York State Common Retirement Fund now owns 8,765 shares of the company's stock worth $68,000 after buying an additional 6,000 shares in the last quarter. 27.15% of the stock is currently owned by institutional investors.

BlackSky Technology Company Profile

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.