BlackSky Technology (NYSE:BKSY) Shares Gap Up on Analyst Upgrade

Shares of BlackSky Technology Inc. (NYSE:BKSY) gapped up prior to trading on Tuesday after HC Wainwright raised their price target on the stock from $12.00 to $20.00. The stock had previously closed at $15.19, but opened at $15.94. HC Wainwright currently has a buy rating on the stock. BlackSky Technology shares last traded at $17.52, with a volume of 665,340 shares traded.

Insiders Place Their Bets

In related news, CFO Henry Edward Dubois sold 7,938 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $10.65, for a total transaction of $84,539.70. Following the sale, the chief financial officer now directly owns 420,779 shares of the company’s stock, valued at approximately $4,481,296.35. This represents a 1.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Christiana L. Lin sold 5,550 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $10.65, for a total transaction of $59,107.50. Following the sale, the chief accounting officer now owns 354,143 shares of the company’s stock, valued at approximately $3,771,622.95. This represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,086 shares of company stock valued at $245,866 in the last quarter. Corporate insiders own 4.50% of the company’s stock.

Institutional Trading of BlackSky Technology

Several large investors have recently added to or reduced their stakes in BKSY. LexAurum Advisors LLC purchased a new position in shares of BlackSky Technology in the fourth quarter worth $108,000. SG Americas Securities LLC purchased a new stake in shares of BlackSky Technology during the fourth quarter valued at about $111,000. Capital Investment Counsel Inc purchased a new position in shares of BlackSky Technology in the 4th quarter valued at approximately $129,000. Griffin Asset Management Inc. acquired a new position in BlackSky Technology in the 4th quarter worth approximately $196,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of BlackSky Technology during the 2nd quarter worth approximately $295,000. 27.15% of the stock is currently owned by institutional investors.

BlackSky Technology Stock Up 16.7 %

The business has a 50-day moving average price of $11.32 and a 200-day moving average price of $8.82. The company has a current ratio of 5.68, a quick ratio of 5.68 and a debt-to-equity ratio of 0.89. The stock has a market cap of $545.65 million, a PE ratio of -7.82 and a beta of 1.20.

BlackSky Technology (NYSE:BKSY) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.05). The business had revenue of $22.55 million for the quarter, compared to analyst estimates of $26.93 million. BlackSky Technology had a negative return on equity of 49.91% and a negative net margin of 38.83%. During the same period in the previous year, the business posted ($0.96) earnings per share. As a group, analysts forecast that BlackSky Technology Inc. will post -2.28 earnings per share for the current year.

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.