BlackSky Technology (NYSE:BKSY) Hits New 52-Week High – What’s Next?

BlackSky Technology Inc. (NYSE:BKSY) shares hit a new 52-week high on Tuesday . The company traded as high as $16.38 and last traded at $16.97, with a volume of 2172893 shares trading hands. The stock had previously closed at $13.16.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BKSY. HC Wainwright decreased their price objective on shares of BlackSky Technology from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Craig Hallum raised BlackSky Technology from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Friday, October 4th. Finally, Oppenheimer assumed coverage on shares of BlackSky Technology in a report on Wednesday, October 2nd. They set an “outperform” rating and a $10.00 target price on the stock. Five investment 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 Down 4.0 %

The stock has a 50-day simple moving average of $11.18 and a 200 day simple moving average of $8.75. 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 (NYSE:BKSY) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.66) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.05). The company had revenue of $22.55 million during the quarter, compared to analyst estimates of $26.93 million. BlackSky Technology had a negative net margin of 38.83% and a negative return on equity of 49.91%. During the same period last year, the company earned ($0.96) EPS. On average, equities research analysts forecast that BlackSky Technology Inc. will post -2.28 EPS for the current year.

Insider Buying and Selling

In other news, CAO Christiana L. Lin sold 5,550 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $10.65, for a total transaction of $59,107.50. Following the completion of the sale, the chief accounting officer now owns 354,143 shares of the company’s stock, valued at $3,771,622.95. This trade represents a 1.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Brian E. O’toole sold 7,020 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $10.65, for a total transaction of $74,763.00. Following the sale, the chief executive officer now directly owns 691,909 shares of the company’s stock, valued at approximately $7,368,830.85. This trade represents a 1.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,086 shares of company stock valued at $245,866. Company insiders own 4.50% of the company’s stock.

Institutional Trading of BlackSky Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC bought a new stake in BlackSky Technology in the 4th quarter valued at about $1,297,000. Griffin Asset Management Inc. acquired a new position in BlackSky Technology during the fourth quarter worth $196,000. LexAurum Advisors LLC acquired a new position in BlackSky Technology during the fourth quarter worth $108,000. SG Americas Securities LLC acquired a new position in BlackSky Technology during the fourth quarter worth $111,000. Finally, Thompson Siegel & Walmsley LLC acquired a new position in BlackSky Technology during the third quarter worth $3,674,000. 27.15% of the stock is owned by institutional investors.

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.