8. BlackSky Technology Inc. (NYSE:BKSY)
Number of Hedge Fund Holders: 17
BlackSky Technology Inc. (NYSE:BKSY) is one of the best small cap stocks to buy for the long term. Jefferies downgraded BlackSky Technology Inc. (NYSE:BKSY) to Hold from Buy on June 1, setting a price target of $50 with shares up 159% year-to-date. The firm stated that although the general excitement around space has driven the stock price move, Jefferies thinks of the event as unrelated to the company’s core market and sees limited upside from here.
In a separate development, BlackSky Technology Inc. (NYSE:BKSY) announced on May 28 that it was awarded a seven-figure, multi-year contract renewal to accelerate the automation of future non-Earth imagery services. Management stated that the follow-on agreement expands the program’s scope towards exploring next-generation imaging payload and specialized mission-planning software solutions supporting the real-time speed, reliability, and scale of space domain awareness (SDA) operations.
BlackSky Technology Inc. (NYSE:BKSY) further stated that as part of the contract, it will deliver timely, very high-resolution imagery and AI-enabled analytics of on-orbit objects that offer decision-makers a dual-use capability in a single platform.
BlackSky Technology Inc. (NYSE:BKSY) is a space-based intelligence company that delivers real-time imagery, analytics, and high-frequency monitoring of the most critical and strategic locations, economic assets, and events. The company also provides imagery and related data analytic products and services, geospatial intelligence, and mission systems that include the integration, development, and operation of satellite and ground systems to government and commercial customers.
