BlackSky Technology (NYSE:BKSY) Price Target Raised to $18.00

BlackSky Technology (NYSE:BKSY) had its price objective increased by stock analysts at Benchmark from $17.00 to $18.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Benchmark’s price objective indicates a potential upside of 45.04% from the stock’s previous close.

A number of other research analysts also recently weighed in on the stock. Oppenheimer raised their target price on shares of BlackSky Technology from $10.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Canaccord Genuity Group began coverage on BlackSky Technology in a report on Thursday, April 10th. They issued a “buy” rating and a $12.00 price objective for the company. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $20.00 target price on shares of BlackSky Technology in a research report on Friday, March 7th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, BlackSky Technology presently has an average rating of “Buy” and a consensus target price of $20.33.

BlackSky Technology Stock Up 4.8%

NYSE:BKSY opened at $12.41 on Tuesday. The company has a market cap of $392.80 million, a PE ratio of -5.49 and a beta of 1.74. The stock has a 50-day simple moving average of $8.44 and a 200 day simple moving average of $10.63. The company has a debt-to-equity ratio of 0.89, a quick ratio of 5.68 and a current ratio of 5.68. BlackSky Technology has a 52-week low of $3.86 and a 52-week high of $21.92.

BlackSky Technology (NYSE:BKSY) last issued its quarterly 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. BlackSky Technology had a negative net margin of 38.83% and a negative return on equity of 49.91%. The company had revenue of $29.54 million during the quarter, compared to analysts’ expectations of $27.20 million. On average, sell-side analysts expect that BlackSky Technology will post -2.28 EPS for the current fiscal year.

Hedge Funds Weigh In On BlackSky Technology

Institutional investors have recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. grew its position in shares of BlackSky Technology by 115.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,626 shares of the company’s stock valued at $28,000 after acquiring an additional 1,406 shares during the period. BNP Paribas Financial Markets lifted its stake in BlackSky Technology by 22.7% in the 4th quarter. BNP Paribas Financial Markets now owns 3,691 shares of the company’s stock valued at $40,000 after purchasing an additional 683 shares during the last quarter. Farther Finance Advisors LLC acquired a new stake in BlackSky Technology in the 4th quarter valued at about $44,000. GAMMA Investing LLC grew its holdings in BlackSky Technology by 14,829.2% during the first quarter. GAMMA Investing LLC now owns 7,166 shares of the company’s stock worth $55,000 after purchasing an additional 7,118 shares during the period. Finally, New York State Common Retirement Fund increased its position in BlackSky Technology by 217.0% during the first quarter. New York State Common Retirement Fund now owns 8,765 shares of the company’s stock worth $68,000 after buying an additional 6,000 shares during the last quarter. 27.15% of the stock is currently owned by institutional investors and hedge funds.

BlackSky Technology Company Profile

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.