BlackSky Technology (NYSE:BKSY) Stock Rating Upgraded by Jefferies Financial Group

BlackSky Technology (NYSE:BKSY) was upgraded by equities research analysts at Jefferies Financial Group to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. HC Wainwright reiterated a “buy” rating and issued a $42.00 target price on shares of BlackSky Technology in a research note on Friday, February 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of BlackSky Technology in a research note on Monday, April 20th. Canaccord Genuity Group decreased their target price on shares of BlackSky Technology from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Finally, Wall Street Zen cut shares of BlackSky Technology from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 16th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $36.50.

BlackSky Technology Stock Performance

BKSY opened at $31.77 on Wednesday. The company has a debt-to-equity ratio of 2.39, a current ratio of 3.46 and a quick ratio of 3.34. The firm has a fifty day moving average price of $37.98 and a 200 day moving average price of $27.71. BlackSky Technology has a 1 year low of $10.80 and a 1 year high of $52.88. The stock has a market cap of $1.18 billion, a P/E ratio of -12.46 and a beta of 2.52.

BlackSky Technology (NYSE:BKSY) last posted its earnings results on Thursday, May 7th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.45). BlackSky Technology had a negative net margin of 89.07% and a negative return on equity of 74.25%. The firm had revenue of $20.77 million during the quarter, compared to analyst estimates of $27.60 million. Equities research analysts anticipate that BlackSky Technology will post -1.32 earnings per share for the current year.

Hedge Funds Weigh In On BlackSky Technology

A number of large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its position in BlackSky Technology by 392.8% during the fourth quarter. Bank of New York Mellon Corp now owns 2,072,543 shares of the company’s stock worth $38,860,000 after acquiring an additional 1,652,014 shares during the period. Vanguard Group Inc. raised its position in BlackSky Technology by 7.8% during the third quarter. Vanguard Group Inc. now owns 1,697,683 shares of the company’s stock worth $34,208,000 after acquiring an additional 123,171 shares during the period. State Street Corp raised its position in BlackSky Technology by 63.3% during the fourth quarter. State Street Corp now owns 996,019 shares of the company’s stock worth $18,675,000 after acquiring an additional 386,207 shares during the period. Daiwa Securities Group Inc. purchased a new stake in shares of BlackSky Technology during the fourth quarter worth $16,395,000. Finally, Geode Capital Management LLC grew its holdings in shares of BlackSky Technology by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 718,490 shares of the company’s stock worth $13,474,000 after buying an additional 22,695 shares in the last quarter. 27.15% of the stock is currently owned by institutional investors and hedge funds.

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.