BlackSky Technology (NYSE:BKSY) Shares Up 7% Following Analyst Upgrade

Shares of BlackSky Technology Inc. (NYSE:BKSY - Get Free Report) were up 7% during mid-day trading on Thursday after Canaccord Genuity Group raised their price target on the stock from $20.00 to $28.00. Canaccord Genuity Group currently has a buy rating on the stock. BlackSky Technology traded as high as $28.44 and last traded at $27.78. Approximately 725,006 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 1,118,134 shares. The stock had previously closed at $25.97.

Several other equities analysts have also issued reports on the stock. HC Wainwright boosted their price target on shares of BlackSky Technology from $20.00 to $28.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Benchmark boosted their price target on shares of BlackSky Technology from $17.00 to $18.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $24.33.

Hedge Funds Weigh In On BlackSky Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Summit Investment Advisors Inc. boosted its stake in BlackSky Technology by 115.2% in the 4th 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 during the period. BNP Paribas Financial Markets boosted its stake in 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 acquired a new position in BlackSky Technology in the 4th quarter worth $44,000. GAMMA Investing LLC boosted its stake in shares of BlackSky Technology by 14,829.2% during the 1st quarter. GAMMA Investing LLC now owns 7,166 shares of the company's stock worth $55,000 after buying an additional 7,118 shares during the last quarter. Finally, CIBC Private Wealth Group LLC acquired a new position in shares of BlackSky Technology during the 4th quarter worth about $76,000. 27.15% of the stock is owned by institutional investors and hedge funds.

BlackSky Technology Stock Performance

The stock's 50 day moving average price is $15.57 and its 200 day moving average price is $12.60. The company has a current ratio of 3.79, a quick ratio of 3.79 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $897.44 million, a price-to-earnings ratio of -11.03 and a beta of 2.07.

BlackSky Technology (NYSE:BKSY - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.42) EPS for the quarter, topping analysts' consensus estimates of ($0.47) by $0.05. BlackSky Technology had a negative net margin of 50.30% and a negative return on equity of 45.63%. The company had revenue of $29.54 million during the quarter, compared to the consensus estimate of $27.20 million. Analysts expect 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.