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

Shares of BlackSky Technology Inc. (NYSE:BKSY - Get Free Report) gapped up prior to trading 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.

Several other research firms have also recently weighed in on BKSY. Benchmark lifted their price objective on BlackSky Technology from $17.00 to $18.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. HC Wainwright restated a "buy" rating and set a $20.00 target price on shares of BlackSky Technology in a report on Friday, March 7th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $21.67.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Rhumbline Advisers lifted its stake in BlackSky Technology by 12.2% in the 1st quarter. Rhumbline Advisers now owns 35,295 shares of the company's stock valued at $273,000 after acquiring an additional 3,849 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of 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 purchasing an additional 432,023 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of 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 worth $117,000 after purchasing an additional 1,015 shares in the last quarter. AQR Capital Management LLC acquired a new position in BlackSky Technology during the first quarter worth $103,000. Finally, Cubist Systematic Strategies LLC bought a new position in BlackSky Technology in the first quarter valued at $1,728,000. 27.15% of the stock is owned by institutional investors and hedge funds.

BlackSky Technology Trading Up 15.0%

The company has a debt-to-equity ratio of 1.26, a current ratio of 3.79 and a quick ratio of 3.79. The business's 50-day moving average is $10.99 and its two-hundred day moving average is $11.33. The firm has a market cap of $628.73 million, a P/E ratio of -7.64 and a beta of 1.85.

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 the consensus estimate of ($0.47) by $0.05. BlackSky Technology had a negative return on equity of 45.63% and a negative net margin of 50.30%. The company had revenue of $29.54 million during the quarter, compared to analysts' expectations of $27.20 million. As a group, analysts predict that BlackSky Technology Inc. will post -2.28 earnings per share for the current fiscal 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.

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