BlackSky Technology (NYSE:BKSY) Shares Gap Up on Analyst Upgrade

BlackSky Technology Inc. (NYSE:BKSY - Get Free Report)'s share price gapped up before the market opened on Thursday after Canaccord Genuity Group raised their price target on the stock from $14.00 to $20.00. The stock had previously closed at $17.28, but opened at $18.00. Canaccord Genuity Group currently has a buy rating on the stock. BlackSky Technology shares last traded at $19.64, with a volume of 884,938 shares trading hands.

Other research analysts have also recently issued reports about the stock. HC Wainwright reiterated a "buy" rating and set a $20.00 target price on shares of BlackSky Technology in a report on Friday, March 7th. 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 report on Tuesday, May 13th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, BlackSky Technology has an average rating of "Buy" and an average price target of $21.67.

Hedge Funds Weigh In On BlackSky Technology

A number of large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets increased its position in shares of BlackSky Technology by 22.7% during the fourth quarter. BNP Paribas Financial Markets now owns 3,691 shares of the company's stock worth $40,000 after purchasing an additional 683 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of 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 purchasing an additional 1,015 shares in the last quarter. Summit Investment Advisors Inc. increased its position in shares of 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 purchasing an additional 1,406 shares in the last quarter. Bridgeway Capital Management LLC increased its position in shares of 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 purchasing an additional 1,700 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of 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 purchasing an additional 2,552 shares in the last quarter. Institutional investors own 27.15% of the company's stock.

BlackSky Technology Stock Performance

The business has a 50-day moving average price of $11.51 and a 200-day moving average price of $11.47. The firm has a market capitalization of $617.93 million, a price-to-earnings ratio of -7.60 and a beta of 1.85. 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 announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.42) earnings per share for the quarter, beating analysts' consensus estimates of ($0.47) by $0.05. The firm 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, sell-side analysts forecast that BlackSky Technology Inc. will post -2.28 earnings per share for the current year.

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.