BlackSky Technology (NYSE:BKSY) Rating Increased to Strong-Buy at Clear Str

Key Points

• Clear Street upgraded BlackSky Technology to “strong buy” from “hold,” though analyst sentiment remains mixed. MarketBeat reports an overall “moderate buy” consensus and a $39.33 average price target.
• BlackSky opened at $28.76, with shares trading between a 12-month low of $12.41 and high of $52.88. The company reported quarterly revenue of $33.32 million, exceeding estimates, but its $0.54 per-share loss was wider than expected.
• Institutional investors increased their holdings, including Goldman Sachs, which boosted its stake by 343.7%; institutions and hedge funds collectively own 27.15% of the stock.

BlackSky Technology (NYSE:BKSY - Get Free Report) was upgraded by Clear Str from a "hold" rating to a "strong-buy" rating in a report issued on Monday,Zacks.com reports.

A number of other equities research analysts have also weighed in on the company. Weiss Ratings restated a "sell (d-)" rating on shares of BlackSky Technology in a research report on Friday, July 17th. Jefferies Financial Group upgraded shares of BlackSky Technology to a "hold" rating in a report on Wednesday, June 10th. Finally, Wall Street Zen lowered shares of BlackSky Technology from a "hold" rating to a "strong sell" rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, BlackSky Technology has an average rating of "Moderate Buy" and a consensus target price of $39.33.

BlackSky Technology Price Performance

Shares of NYSE:BKSY opened at $28.76 on Monday. The firm has a 50 day moving average of $27.43 and a 200-day moving average of $29.33. BlackSky Technology has a 12 month low of $12.41 and a 12 month high of $52.88. The company has a current ratio of 3.46, a quick ratio of 3.34 and a debt-to-equity ratio of 2.39. The stock has a market capitalization of $1.18 billion, a PE ratio of -15.80 and a beta of 2.61.

BlackSky Technology (NYSE:BKSY - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.16). BlackSky Technology had a negative return on equity of 68.90% and a negative net margin of 61.24%.The firm had revenue of $33.32 million for the quarter, compared to analyst estimates of $30.72 million. On average, equities research analysts predict that BlackSky Technology will post -1.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC acquired a new stake in BlackSky Technology during the first quarter worth approximately $103,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in BlackSky Technology by 7.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,174 shares of the company's stock valued at $117,000 after buying an additional 1,015 shares during the period. Goldman Sachs Group Inc. lifted its stake in BlackSky Technology by 343.7% in the first quarter. Goldman Sachs Group Inc. now owns 557,729 shares of the company's stock valued at $4,311,000 after buying an additional 432,023 shares during the period. Legal & General Group Plc boosted its holdings in shares of BlackSky Technology by 40.5% during the 2nd quarter. Legal & General Group Plc now owns 3,118 shares of the company's stock worth $64,000 after buying an additional 899 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of BlackSky Technology by 11.1% during the 2nd quarter. Rhumbline Advisers now owns 39,229 shares of the company's stock worth $807,000 after buying an additional 3,934 shares in the last quarter. 27.15% of the stock is owned by institutional investors and hedge funds.

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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