Brokerages Set BlackSky Technology Inc. (NYSE:BKSY) Target Price at $28.00

BlackSky Technology Inc. (NYSE:BKSY) has been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating and six have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $28.00.

BKSY has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of BlackSky Technology in a research note on Wednesday, October 8th. HC Wainwright lifted their price objective on shares of BlackSky Technology from $28.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. Finally, Jefferies Financial Group initiated coverage on BlackSky Technology in a report on Monday, December 22nd. They issued a “buy” rating and a $23.00 target price on the stock.

BlackSky Technology Trading Down 2.7%

BKSY opened at $27.55 on Friday. The business has a fifty day moving average price of $19.28 and a 200 day moving average price of $20.32. The company has a debt-to-equity ratio of 2.08, a current ratio of 3.89 and a quick ratio of 3.89. BlackSky Technology has a 12 month low of $6.15 and a 12 month high of $33.20. The stock has a market capitalization of $991.52 million, a price-to-earnings ratio of -8.77 and a beta of 2.42.

BlackSky Technology (NYSE:BKSY) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.02. BlackSky Technology had a negative return on equity of 54.48% and a negative net margin of 87.11%.The company had revenue of $19.62 million for the quarter, compared to analyst estimates of $28.67 million. Sell-side analysts expect that BlackSky Technology will post -2.28 earnings per share for the current fiscal year.

Institutional Trading of BlackSky Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc lifted its position in shares of BlackSky Technology by 35,575.0% during the 2nd quarter. IFP Advisors Inc now owns 1,427 shares of the company’s stock worth $32,000 after buying an additional 1,423 shares during the last quarter. Wexford Capital LP purchased a new stake in BlackSky Technology in the third quarter valued at $30,000. Nisa Investment Advisors LLC boosted its stake in BlackSky Technology by 6,937.5% in the second quarter. Nisa Investment Advisors LLC now owns 1,689 shares of the company’s stock valued at $35,000 after acquiring an additional 1,665 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in shares of BlackSky Technology during the third quarter worth about $50,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of BlackSky Technology during the third quarter worth about $53,000. Institutional investors and hedge funds own 27.15% of the company’s stock.

About BlackSky Technology

BlackSky Technology, Inc operates Earth observation and geospatial intelligence services through a constellation of small satellites and an analytics platform. The company collects and processes high-revisit satellite imagery, enabling near-real-time monitoring of global events and locations. Clients across government, defense and commercial sectors leverage BlackSky’s imagery and data to support decision-making in areas such as supply chain monitoring, humanitarian aid, infrastructure management and security operations.

Founded in 2014 as part of Spaceflight Industries, BlackSky has grown its satellite constellation and analytics capabilities to deliver satellite imagery with high revisit rates and rapid tasking.