BlackSky Technology (NYSE:BKSY) Price Target Raised to $28.00 at HC Wainwright

BlackSky Technology (NYSE:BKSY - Get Free Report) had its price objective hoisted by research analysts at HC Wainwright from $20.00 to $28.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. HC Wainwright's target price suggests a potential upside of 39.06% from the company's previous close.

Other equities research analysts have also issued research reports about the stock. Canaccord Genuity Group boosted their price target on shares of BlackSky Technology from $20.00 to $28.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Benchmark boosted their price target on shares of 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, Based on data from MarketBeat.com, BlackSky Technology has a consensus rating of "Buy" and an average price target of $24.17.

BlackSky Technology Stock Down 9.8%

Shares of NYSE:BKSY traded down $2.20 during trading on Monday, reaching $20.14. The stock had a trading volume of 4,997,687 shares, compared to its average volume of 1,204,955. BlackSky Technology has a one year low of $3.86 and a one year high of $28.85. The company has a market capitalization of $637.27 million, a P/E ratio of -7.83 and a beta of 2.07. 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's 50-day simple moving average is $16.02 and its 200 day simple moving average is $12.79.

BlackSky Technology (NYSE:BKSY - Get Free Report) last released its 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 company had revenue of $29.54 million for 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, research analysts expect that BlackSky Technology will post -2.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Two Sigma Investments LP acquired a new stake in BlackSky Technology during the 4th quarter worth approximately $1,219,000. Bank of New York Mellon Corp boosted its stake in shares of BlackSky Technology by 89.1% during the 4th quarter. Bank of New York Mellon Corp now owns 56,298 shares of the company's stock valued at $607,000 after buying an additional 26,528 shares during the last quarter. Northern Trust Corp boosted its stake in shares of BlackSky Technology by 89.1% during the 4th quarter. Northern Trust Corp now owns 202,153 shares of the company's stock valued at $2,181,000 after buying an additional 95,228 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of BlackSky Technology by 215.3% during the 1st quarter. Oppenheimer & Co. Inc. now owns 80,638 shares of the company's stock valued at $623,000 after buying an additional 55,067 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in shares of BlackSky Technology by 20.5% during the 4th quarter. Nuveen Asset Management LLC now owns 72,890 shares of the company's stock valued at $786,000 after buying an additional 12,378 shares during the last quarter. 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.