BlackSky Technology (NYSE:BKSY) Rating Increased to Sell at Wall Street Zen

Wall Street Zen upgraded shares of BlackSky Technology (NYSE:BKSY) from a strong sell rating to a sell rating in a research note published on Saturday.

Several other equities analysts have also issued reports on the company. Jefferies Financial Group upgraded BlackSky Technology to a “hold” rating in a research report on Wednesday, June 10th. Clear Str upgraded shares of BlackSky Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BlackSky Technology in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, BlackSky Technology currently has a consensus rating of “Moderate Buy” and an average target price of $39.33.

BlackSky Technology Stock Performance

BKSY stock opened at $31.00 on Friday. BlackSky Technology has a 1-year low of $12.41 and a 1-year high of $52.88. The company has a current ratio of 5.83, a quick ratio of 3.34 and a debt-to-equity ratio of 0.94. The firm has a market cap of $1.27 billion, a PE ratio of -17.03 and a beta of 2.61. The business’s 50-day moving average price is $26.79 and its two-hundred day moving average price is $29.44.

BlackSky Technology (NYSE:BKSY) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.16). The business had revenue of $33.32 million during the quarter, compared to the consensus estimate of $30.72 million. BlackSky Technology had a negative return on equity of 51.24% and a negative net margin of 61.24%. As a group, research analysts forecast that BlackSky Technology will post -1.27 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. AWM Investment Company Inc. acquired a new stake in shares of BlackSky Technology in the 2nd quarter valued at approximately $33,504,000. Tema ETFs LLC increased its holdings in BlackSky Technology by 110,505.8% during the second quarter. Tema ETFs LLC now owns 1,446,724 shares of the company’s stock worth $40,393,000 after buying an additional 1,445,416 shares during the last quarter. FNY Investment Advisers LLC increased its holdings in BlackSky Technology by 323.0% during the second quarter. FNY Investment Advisers LLC now owns 21,891 shares of the company’s stock worth $611,000 after buying an additional 16,716 shares during the last quarter. Bank of America Corp DE raised its position in BlackSky Technology by 156.1% during the first quarter. Bank of America Corp DE now owns 412,891 shares of the company’s stock worth $10,388,000 after acquiring an additional 251,638 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in BlackSky Technology in the first quarter valued at $217,000. 27.15% of the stock is 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.