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

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

Several other equities analysts also recently issued reports on BKSY. HC Wainwright lifted 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 increased their target price on 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, Based on data from MarketBeat, BlackSky Technology has a consensus rating of "Buy" and a consensus target price of $24.33.

BlackSky Technology Stock Up 9.2%

Shares of NYSE BKSY traded up $2.39 during mid-day trading on Wednesday, reaching $28.36. The company had a trading volume of 1,947,837 shares, compared to its average volume of 1,123,140. The company has a debt-to-equity ratio of 1.26, a quick ratio of 3.79 and a current ratio of 3.79. BlackSky Technology has a twelve month low of $3.86 and a twelve month high of $28.82. The stock's 50 day moving average is $15.23 and its 200-day moving average is $12.49. The stock has a market capitalization of $897.78 million, a PE ratio of -11.04 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) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.05. The business 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%. As a group, equities analysts anticipate that BlackSky Technology will post -2.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BlackSky Technology

Several large investors have recently bought and sold shares of BKSY. Summit Investment Advisors Inc. raised its position in shares of BlackSky Technology by 115.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,626 shares of the company's stock valued at $28,000 after acquiring an additional 1,406 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in BlackSky Technology by 22.7% in the fourth quarter. BNP Paribas Financial Markets now owns 3,691 shares of the company's stock valued at $40,000 after purchasing an additional 683 shares during the last quarter. Farther Finance Advisors LLC acquired a new position in BlackSky Technology in the fourth quarter valued at about $44,000. GAMMA Investing LLC boosted its holdings in BlackSky Technology by 14,829.2% during the first 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, New York State Common Retirement Fund grew its position in shares of BlackSky Technology by 217.0% during the 1st quarter. New York State Common Retirement Fund now owns 8,765 shares of the company's stock worth $68,000 after buying an additional 6,000 shares during the period. 27.15% of the stock is currently owned by institutional investors and hedge funds.

About BlackSky Technology

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.