BlackSky Technology (NYSE:BKSY) Rating Lowered to “Hold” at Jefferies Financial Group

BlackSky Technology (NYSE:BKSY) was downgraded by investment analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research report issued on Monday. They presently have a $50.00 price objective on the stock. Jefferies Financial Group’s target price would indicate a potential upside of 3.68% from the company’s current price.

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

BlackSky Technology Price Performance

Shares of BKSY opened at $48.22 on Monday. BlackSky Technology has a 1-year low of $10.61 and a 1-year high of $52.88. The stock has a market cap of $1.79 billion, a PE ratio of -18.91 and a beta of 2.52. The firm has a 50-day simple moving average of $36.16 and a two-hundred day simple moving average of $26.43. The company has a debt-to-equity ratio of 2.39, a current ratio of 3.46 and a quick ratio of 3.34.

BlackSky Technology (NYSE:BKSY) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.82) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $20.77 million for the quarter, compared to analyst estimates of $27.60 million. As a group, analysts forecast that BlackSky Technology will post -1.32 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BKSY. Quarry LP purchased a new position in shares of BlackSky Technology in the fourth quarter valued at approximately $26,000. Strive Financial Group LLC purchased a new position in shares of BlackSky Technology in the fourth quarter valued at approximately $26,000. Global Retirement Partners LLC purchased a new position in shares of BlackSky Technology in the fourth quarter valued at approximately $28,000. Wexford Capital LP purchased a new position in shares of BlackSky Technology in the third quarter valued at approximately $30,000. Finally, IFP Advisors Inc boosted its stake in shares of BlackSky Technology by 57.9% in the third quarter. IFP Advisors Inc now owns 2,253 shares of the company’s stock valued at $45,000 after purchasing an additional 826 shares during the period. Hedge funds and other institutional investors own 27.15% of the company’s stock.

BlackSky Technology Company Profile

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.