Canaccord Genuity Group Begins Coverage on BlackSky Technology (NYSE:BKSY)

Canaccord Genuity Group assumed coverage on shares of BlackSky Technology (NYSE:BKSY) in a note issued to investors on Thursday,Benzinga reports. The brokerage set a “buy” rating and a $12.00 price target on the stock. Canaccord Genuity Group’s price target points to a potential upside of 58.21% from the company’s previous close.

BKSY has been the subject of a number of other research reports. HC Wainwright reissued a “buy” rating and issued a $20.00 price target on shares of BlackSky Technology in a report on Friday, March 7th. Oppenheimer raised their price target on shares of BlackSky Technology from $10.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Finally, Benchmark reissued a “buy” rating and issued a $17.00 price target on shares of BlackSky Technology in a report on Friday, March 7th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $20.17.

BlackSky Technology Price Performance

BKSY traded down $0.23 during midday trading on Thursday, reaching $7.59. 297,014 shares of the company’s stock were exchanged, compared to its average volume of 772,028. The firm has a market capitalization of $239.99 million, a price-to-earnings ratio of -3.39 and a beta of 1.61. The company has a quick ratio of 5.68, a current ratio of 5.68 and a debt-to-equity ratio of 0.89. BlackSky Technology has a one year low of $3.86 and a one year high of $21.92. The business has a 50-day simple moving average of $12.01 and a two-hundred day simple moving average of $10.16.

Institutional Investors Weigh In On BlackSky Technology

Several institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its position in BlackSky Technology by 12.2% in the 1st quarter. Rhumbline Advisers now owns 35,295 shares of the company’s stock valued at $273,000 after acquiring an additional 3,849 shares in the last quarter. GAMMA Investing LLC lifted its position in BlackSky Technology by 14,829.2% in the 1st 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. Two Sigma Investments LP bought a new stake in BlackSky Technology in the 4th quarter valued at $1,219,000. Nuveen Asset Management LLC lifted its position in BlackSky Technology by 20.5% in the 4th quarter. Nuveen Asset Management LLC now owns 72,890 shares of the company’s stock valued at $786,000 after acquiring an additional 12,378 shares in the last quarter. Finally, Mithril II GP LP bought a new stake in BlackSky Technology in the 4th quarter valued at $11,116,000. 27.15% of the stock is owned by institutional investors.

BlackSky Technology Company Profile

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.