Jefferies Financial Group Begins Coverage on BlackSky Technology (NYSE:BKSY)

Analysts at Jefferies Financial Group started coverage on shares of BlackSky Technology (NYSE:BKSY) in a research note issued on Monday,Benzinga reports. The firm set a “buy” rating and a $23.00 price target on the stock. Jefferies Financial Group’s price target suggests a potential upside of 19.11% from the stock’s current price.

A number of other analysts have also recently weighed in on BKSY. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BlackSky Technology in a research report on Wednesday, October 8th. HC Wainwright upped their price target on BlackSky Technology from $28.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, BlackSky Technology has a consensus rating of “Moderate Buy” and an average target price of $28.00.

BlackSky Technology Trading Up 10.5%

Shares of BlackSky Technology stock opened at $19.31 on Monday. The company has a debt-to-equity ratio of 2.08, a quick ratio of 3.89 and a current ratio of 3.89. The company has a market capitalization of $694.97 million, a P/E ratio of -6.15 and a beta of 2.41. BlackSky Technology has a 1 year low of $6.15 and a 1 year high of $33.20. The company’s fifty day moving average is $19.25 and its two-hundred day moving average is $19.19.

BlackSky Technology (NYSE:BKSY) last announced its earnings results on Thursday, November 6th. The company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.02. BlackSky Technology had a negative net margin of 87.11% and a negative return on equity of 54.48%. The business had revenue of $19.62 million during the quarter, compared to the consensus estimate of $28.67 million. Analysts forecast that BlackSky Technology will post -2.28 earnings per share for the current year.

Hedge Funds Weigh In On BlackSky Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Griffin Asset Management Inc. boosted its stake in shares of BlackSky Technology by 1.6% during the 3rd quarter. Griffin Asset Management Inc. now owns 48,856 shares of the company’s stock worth $984,000 after acquiring an additional 746 shares in the last quarter. IFP Advisors Inc raised its holdings in BlackSky Technology by 57.9% during the third quarter. IFP Advisors Inc now owns 2,253 shares of the company’s stock worth $45,000 after purchasing an additional 826 shares during the last quarter. Legal & General Group Plc raised its holdings in BlackSky Technology by 40.5% during the second quarter. Legal & General Group Plc now owns 3,118 shares of the company’s stock worth $64,000 after purchasing an additional 899 shares during the last quarter. Concurrent Investment Advisors LLC boosted its position in BlackSky Technology by 5.6% during the third quarter. Concurrent Investment Advisors LLC now owns 19,042 shares of the company’s stock worth $384,000 after purchasing an additional 1,010 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in BlackSky Technology by 7.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,174 shares of the company’s stock valued at $117,000 after purchasing 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.