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Canaccord Genuity Group Issues Positive Forecast for BlackSky Technology (NYSE:BKSY) Stock Price

BlackSky Technology logo with Business Services background

BlackSky Technology (NYSE:BKSY - Free Report) had its price target increased by Canaccord Genuity Group from $20.00 to $28.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

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

Check Out Our Latest Stock Analysis on BKSY

BlackSky Technology Price Performance

BKSY traded down $5.44 on Wednesday, hitting $22.85. 5,874,302 shares of the company's stock were exchanged, compared to its average volume of 1,153,571. BlackSky Technology has a fifty-two week low of $3.86 and a fifty-two week high of $28.85. 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 firm has a 50-day moving average price of $15.57 and a 200-day moving average price of $12.60. The stock has a market cap of $723.11 million, a price-to-earnings ratio of -8.92 and a beta of 2.07.

BlackSky Technology (NYSE:BKSY - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $27.20 million. As a group, equities analysts anticipate that BlackSky Technology will post -2.28 earnings per share for the current year.

Hedge Funds Weigh In On BlackSky Technology

A number of hedge funds have recently modified their holdings of BKSY. Nuveen LLC purchased a new position in shares of BlackSky Technology during the 1st quarter worth $9,582,000. Mithril II GP LP purchased a new position in shares of BlackSky Technology during the 4th quarter worth $11,116,000. Goldman Sachs Group Inc. grew its holdings in shares of BlackSky Technology by 343.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 557,729 shares of the company's stock worth $4,311,000 after purchasing an additional 432,023 shares during the period. Invesco Ltd. purchased a new position in shares of BlackSky Technology during the 4th quarter worth $3,868,000. Finally, Trexquant Investment LP grew its holdings in shares of BlackSky Technology by 2,309.8% during the 4th quarter. Trexquant Investment LP now owns 301,590 shares of the company's stock worth $3,254,000 after purchasing an additional 289,075 shares during the period. 27.15% of the stock is currently owned by hedge funds and other institutional investors.

BlackSky Technology Company Profile

(Get Free Report)

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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Analyst Recommendations for BlackSky Technology (NYSE:BKSY)

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