BlackSky Technology (NYSE:BKSY) Price Target Raised to $20.00

BlackSky Technology (NYSE:BKSY - Get Free Report) had its target price upped by equities researchers at Canaccord Genuity Group from $14.00 to $20.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's price target indicates a potential upside of 2.44% from the company's previous close.

A number of other brokerages have also recently issued reports on BKSY. HC Wainwright restated a "buy" rating and issued a $20.00 target price on shares of BlackSky Technology in a report on Friday, March 7th. Benchmark lifted 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 research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $21.67.

BlackSky Technology Stock Performance

BKSY traded down $0.96 during trading hours on Thursday, hitting $19.52. The company's stock had a trading volume of 3,946,176 shares, compared to its average volume of 1,038,659. BlackSky Technology has a fifty-two week low of $3.86 and a fifty-two week high of $21.92. 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 market capitalization of $617.93 million, a PE ratio of -7.60 and a beta of 1.85. The company has a 50-day simple moving average of $11.51 and a 200 day simple moving average of $11.47.

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

Institutional Trading of BlackSky Technology

Hedge funds and other institutional investors have recently modified their holdings of the business. Two Sigma Investments LP acquired a new stake in shares of BlackSky Technology in the fourth quarter worth $1,219,000. Bank of New York Mellon Corp boosted its position in shares of BlackSky Technology by 89.1% in 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 position in shares of BlackSky Technology by 89.1% in 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. Rhumbline Advisers boosted its position in shares of BlackSky Technology by 98.5% in the fourth quarter. Rhumbline Advisers now owns 31,446 shares of the company's stock worth $339,000 after buying an additional 15,607 shares during the period. Finally, Nuveen Asset Management LLC boosted its position in shares of BlackSky Technology by 20.5% in 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. Institutional investors and hedge funds own 27.15% of the company's stock.

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.