BlackSky Technology (NYSE:BKSY) Downgraded to Strong Sell Rating by Wall Street Zen

Key Points

• Wall Street Zen has downgraded BlackSky Technology from a "hold" rating to a "strong sell" rating, reflecting a significant change in sentiment regarding the company's stock.
• Despite the downgrade, BlackSky Technology has received various ratings, with six analysts still issuing a "buy" rating and a consensus target price of $23.50.
• The company's recent earnings report showed a loss of ($0.52) EPS, which was below the consensus estimate, indicating potential challenges ahead for BlackSky Technology.

Wall Street Zen cut shares of BlackSky Technology (NYSE:BKSY - Free Report) from a hold rating to a strong sell rating in a research note published on Saturday.

A number of other equities analysts have also weighed in on BKSY. Canaccord Genuity Group decreased their target price on BlackSky Technology from $28.00 to $27.00 and set a "buy" rating on the stock in a research note on Tuesday, July 22nd. HC Wainwright lifted their price objective on BlackSky Technology from $20.00 to $28.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Benchmark lifted their price objective on BlackSky Technology from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Finally, Lake Street Capital lifted their price objective on BlackSky Technology from $18.00 to $28.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. One analyst has rated the stock with a sell rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $23.50.

BlackSky Technology Trading Up 4.9%

BKSY stock traded up $0.85 during mid-day trading on Friday, reaching $18.29. The company's stock had a trading volume of 663,672 shares, compared to its average volume of 1,606,251. The company has a market cap of $648.71 million, a price-to-earnings ratio of -5.44 and a beta of 2.09. BlackSky Technology has a 12 month low of $3.86 and a 12 month high of $28.85. The business's 50 day moving average price is $18.38 and its 200 day moving average price is $13.65. The company has a current ratio of 3.71, a quick ratio of 3.79 and a debt-to-equity ratio of 1.35.

BlackSky Technology (NYSE:BKSY - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($0.03). BlackSky Technology had a negative return on equity of 52.27% and a negative net margin of 82.04%. The business had revenue of $22.20 million during the quarter, compared to analysts' expectations of $22.17 million. On average, equities research analysts predict that BlackSky Technology will post -2.28 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. IFP Advisors Inc grew its holdings in BlackSky Technology by 35,575.0% in the second quarter. IFP Advisors Inc now owns 1,427 shares of the company's stock worth $32,000 after purchasing an additional 1,423 shares during the period. Nisa Investment Advisors LLC raised its stake in BlackSky Technology by 6,937.5% during the second quarter. Nisa Investment Advisors LLC now owns 1,689 shares of the company's stock valued at $35,000 after buying an additional 1,665 shares during the last quarter. Summit Investment Advisors Inc. raised its stake in BlackSky Technology by 115.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,626 shares of the company's stock valued at $28,000 after buying an additional 1,406 shares during the last quarter. GPS Wealth Strategies Group LLC purchased a new position in shares of BlackSky Technology in the second quarter worth $57,000. Finally, Legal & General Group Plc raised its stake in shares of BlackSky Technology by 40.5% in the second quarter. Legal & General Group Plc now owns 3,118 shares of the company's stock worth $64,000 after purchasing an additional 899 shares during the last quarter. Hedge funds and other institutional investors 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.