BlackSky Technology (NYSE:BKSY) Coverage Initiated by Analysts at Canaccord Genuity Group

Stock analysts at Canaccord Genuity Group started coverage on shares of BlackSky Technology (NYSE:BKSY) in a report released on Thursday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $12.00 price target on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 56.76% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Benchmark reiterated a “buy” rating and set a $17.00 price target on shares of BlackSky Technology in a research report on Friday, March 7th. Oppenheimer upped their target price on BlackSky Technology from $10.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Finally, HC Wainwright restated a “buy” rating and issued a $20.00 target price on shares of BlackSky Technology in a research note on Friday, March 7th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $20.17.

BlackSky Technology Stock Performance

NYSE:BKSY opened at $7.66 on Thursday. The company has a quick ratio of 5.68, a current ratio of 5.68 and a debt-to-equity ratio of 0.89. The firm’s fifty day simple moving average is $11.66 and its 200 day simple moving average is $10.20. The stock has a market cap of $242.20 million, a P/E ratio of -3.39 and a beta of 1.61. BlackSky Technology has a twelve month low of $3.86 and a twelve month high of $21.92.

Hedge Funds Weigh In On BlackSky Technology

Institutional investors and hedge funds have recently made changes to their positions in the business. Summit Investment Advisors Inc. grew its stake 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 worth $28,000 after buying an additional 1,406 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in BlackSky Technology by 22.7% in the fourth quarter. BNP Paribas Financial Markets now owns 3,691 shares of the company’s stock worth $40,000 after acquiring an additional 683 shares in the last quarter. Farther Finance Advisors LLC purchased a new stake in shares of BlackSky Technology in the fourth quarter worth $44,000. GAMMA Investing LLC increased its holdings in shares of BlackSky Technology by 14,829.2% during the first quarter. GAMMA Investing LLC now owns 7,166 shares of the company’s stock valued at $55,000 after acquiring an additional 7,118 shares in the last quarter. Finally, CIBC Private Wealth Group LLC purchased a new position in shares of BlackSky Technology in the 4th quarter worth about $76,000. Institutional investors own 27.15% of the company’s stock.

About BlackSky Technology

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.