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

Wall Street Zen lowered shares of BlackSky Technology (NYSE:BKSYFree Report) from a hold rating to a strong sell rating in a report published on Saturday.

Several other research analysts also recently commented on BKSY. Canaccord Genuity Group dropped their price objective on shares of BlackSky Technology from $27.00 to $26.00 and set a “buy” rating for the company in a report on Friday, February 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of BlackSky Technology in a report on Monday, April 20th. Finally, HC Wainwright reissued a “buy” rating and set a $42.00 price objective on shares of BlackSky Technology in a report on Friday, February 27th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $29.75.

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BlackSky Technology Trading Down 8.7%

Shares of BKSY stock opened at $38.95 on Friday. BlackSky Technology has a 52-week low of $9.88 and a 52-week high of $44.70. The company has a debt-to-equity ratio of 2.39, a quick ratio of 3.37 and a current ratio of 3.46. The firm has a market capitalization of $1.45 billion, a PE ratio of -15.28 and a beta of 2.44. The stock has a fifty day simple moving average of $31.57 and a two-hundred day simple moving average of $24.43.

BlackSky Technology (NYSE:BKSYGet Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.45). BlackSky Technology had a negative return on equity of 74.25% and a negative net margin of 89.07%.The business had revenue of $20.77 million during the quarter, compared to analysts’ expectations of $27.60 million. On average, analysts predict that BlackSky Technology will post -1.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Quarry LP bought a new position in shares of BlackSky Technology in the 4th quarter valued at about $26,000. Strive Financial Group LLC purchased a new stake in BlackSky Technology in the 4th quarter worth about $26,000. Wexford Capital LP purchased a new stake in BlackSky Technology in the 3rd quarter worth about $30,000. Global Retirement Partners LLC purchased a new stake in BlackSky Technology in the 4th quarter worth about $28,000. Finally, Fifth Third Bancorp purchased a new stake in BlackSky Technology in the 1st quarter worth about $48,000. Institutional investors own 27.15% of the company’s stock.

About BlackSky Technology

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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.

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Analyst Recommendations for BlackSky Technology (NYSE:BKSY)

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