BlackSky Technology (NYSE:BKSY) Sees Unusually-High Trading Volume – Time to Buy?

BlackSky Technology Inc. (NYSE:BKSY) shares saw strong trading volume on Monday . 388,979 shares traded hands during mid-day trading, an increase of 97% from the previous session’s volume of 197,364 shares.The stock last traded at $6.26 and had previously closed at $6.26.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Oppenheimer assumed coverage on shares of BlackSky Technology in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $10.00 price target on the stock. Craig Hallum raised BlackSky Technology from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Friday, October 4th. HC Wainwright lowered their price target on BlackSky Technology from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Lake Street Capital upped their target price on shares of BlackSky Technology from $4.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $17.60.

BlackSky Technology Stock Performance

The firm has a market cap of $900.07 million, a PE ratio of -16.13 and a beta of 0.97. The company has a 50-day simple moving average of $7.07 and a two-hundred day simple moving average of $8.40. The company has a quick ratio of 4.19, a current ratio of 4.19 and a debt-to-equity ratio of 1.41.

BlackSky Technology (NYSE:BKSY) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.48) EPS for the quarter, beating the consensus estimate of ($0.72) by $0.24. BlackSky Technology had a negative net margin of 26.78% and a negative return on equity of 56.91%. The business had revenue of $24.94 million for the quarter, compared to the consensus estimate of $25.14 million. During the same period in the prior year, the firm earned ($1.92) earnings per share. As a group, equities research analysts forecast that BlackSky Technology Inc. will post -2.52 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Henry Edward Dubois sold 23,590 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $7.19, for a total value of $169,612.10. Following the completion of the sale, the chief financial officer now directly owns 231,645 shares of the company’s stock, valued at approximately $1,665,527.55. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Brian E. O’toole sold 24,352 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $7.19, for a total transaction of $175,090.88. Following the completion of the transaction, the chief executive officer now directly owns 479,785 shares of the company’s stock, valued at approximately $3,449,654.15. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Henry Edward Dubois sold 23,590 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $7.19, for a total transaction of $169,612.10. Following the completion of the sale, the chief financial officer now directly owns 231,645 shares in the company, valued at $1,665,527.55. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 62,362 shares of company stock valued at $446,535 over the last three months. 3.16% of the stock is owned by company insiders.

Institutional Trading of BlackSky Technology

A number of hedge funds have recently bought and sold shares of BKSY. Squarepoint Ops LLC purchased a new stake in BlackSky Technology in the 2nd quarter worth approximately $295,000. LA Financiere DE L Echiquier raised its position in shares of BlackSky Technology by 13.6% during the 2nd quarter. LA Financiere DE L Echiquier now owns 933,000 shares of the company’s stock worth $998,000 after purchasing an additional 112,000 shares during the last quarter. Virtu Financial LLC lifted its stake in BlackSky Technology by 134.5% in the 1st quarter. Virtu Financial LLC now owns 145,514 shares of the company’s stock valued at $198,000 after buying an additional 83,462 shares in the last quarter. Vanguard Group Inc. boosted its holdings in BlackSky Technology by 17.8% in the 1st quarter. Vanguard Group Inc. now owns 5,291,909 shares of the company’s stock worth $7,197,000 after buying an additional 800,287 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its stake in BlackSky Technology by 123.8% during the first quarter. GSA Capital Partners LLP now owns 315,900 shares of the company’s stock worth $430,000 after buying an additional 174,773 shares during the last quarter. Hedge funds and other institutional investors own 27.15% of the company’s stock.

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.