BlackSky Technology (NYSE:BKSY) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

BlackSky Technology (NYSE:BKSY - Free Report) had its price target hoisted by Canaccord Genuity Group from $20.00 to $28.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts also recently weighed in on BKSY. Benchmark lifted their target price 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. HC Wainwright lifted their target price 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. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $24.33.

BlackSky Technology Price Performance

Shares of BKSY traded down $4.65 during mid-day trading on Wednesday, hitting $23.64. 10,210,192 shares of the company were exchanged, compared to its average volume of 1,173,743. BlackSky Technology has a 1-year low of $3.86 and a 1-year high of $28.85. The company has a debt-to-equity ratio of 1.26, a quick ratio of 3.79 and a current ratio of 3.79. The company has a 50 day moving average of $15.81 and a 200-day moving average of $12.71. The stock has a market cap of $748.21 million, a price-to-earnings ratio of -9.20 and a beta of 2.07.

BlackSky Technology (NYSE:BKSY - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.47) by $0.05. The firm had revenue of $29.54 million during the quarter, compared to the consensus estimate of $27.20 million. BlackSky Technology had a negative net margin of 50.30% and a negative return on equity of 45.63%. Analysts expect that BlackSky Technology will post -2.28 EPS for the current fiscal year.

Hedge Funds Weigh In On BlackSky Technology

Several hedge funds have recently made changes to their positions in BKSY. Two Sigma Investments LP acquired a new stake in shares of BlackSky Technology during the fourth quarter worth about $1,219,000. Bank of New York Mellon Corp boosted its stake in shares of BlackSky Technology by 89.1% during the fourth quarter. Bank of New York Mellon Corp now owns 56,298 shares of the company's stock worth $607,000 after buying an additional 26,528 shares during the period. Northern Trust Corp boosted its stake in shares of BlackSky Technology by 89.1% during the fourth quarter. Northern Trust Corp now owns 202,153 shares of the company's stock worth $2,181,000 after buying an additional 95,228 shares during the period. Oppenheimer & Co. Inc. boosted its stake in shares of BlackSky Technology by 215.3% during the first quarter. Oppenheimer & Co. Inc. now owns 80,638 shares of the company's stock worth $623,000 after buying an additional 55,067 shares during the period. Finally, Nuveen Asset Management LLC boosted its stake in shares of BlackSky Technology by 20.5% during the fourth quarter. Nuveen Asset Management LLC now owns 72,890 shares of the company's stock worth $786,000 after buying an additional 12,378 shares during the period. Hedge funds and other institutional investors own 27.15% of the company's stock.

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.