BlackSky Technology (NYSE:BKSY) Stock Rating Lowered by Wall Street Zen

BlackSky Technology (NYSE:BKSY) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “strong sell” rating in a report issued on Saturday.

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

BlackSky Technology Stock Performance

BKSY stock opened at $38.95 on Friday. The company has a market cap of $1.45 billion, a P/E ratio of -15.28 and a beta of 2.44. BlackSky Technology has a 1 year low of $9.88 and a 1 year high of $44.70. 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 stock’s fifty day moving average price is $31.57 and its 200-day moving average price is $24.44.

BlackSky Technology (NYSE:BKSY) last announced its earnings results on Thursday, May 7th. The company reported ($0.82) 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 company had revenue of $20.77 million during the quarter, compared to the consensus estimate of $27.60 million. On average, equities analysts forecast that BlackSky Technology will post -1.32 earnings per share for the current year.

Institutional Trading of BlackSky Technology

A number of hedge funds have recently bought and sold shares of the business. Arax Advisory Partners increased its holdings in shares of BlackSky Technology by 15.2% during the 4th quarter. Arax Advisory Partners now owns 5,985 shares of the company’s stock worth $112,000 after buying an additional 791 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of BlackSky Technology by 57.9% during the 3rd quarter. IFP Advisors Inc now owns 2,253 shares of the company’s stock worth $45,000 after buying an additional 826 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of BlackSky Technology by 40.5% during the 2nd quarter. Legal & General Group Plc now owns 3,118 shares of the company’s stock worth $64,000 after buying an additional 899 shares during the last quarter. Concurrent Investment Advisors LLC increased its holdings in shares of BlackSky Technology by 5.6% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 19,042 shares of the company’s stock worth $384,000 after buying an additional 1,010 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of BlackSky Technology by 7.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,174 shares of the company’s stock worth $117,000 after buying an additional 1,015 shares during the last quarter. 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.