BlackSky Technology (NYSE:BKSY) Reaches New 52-Week High – Here’s Why

BlackSky Technology Inc. (NYSE:BKSY)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $20.20 and last traded at $19.73, with a volume of 1173109 shares traded. The stock had previously closed at $16.83.

Analysts Set New Price Targets

Separately, HC Wainwright boosted their target price on BlackSky Technology from $12.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $19.20.

BlackSky Technology Trading Up 11.3 %

The stock has a 50-day simple moving average of $12.63 and a two-hundred day simple moving average of $9.44. The company has a debt-to-equity ratio of 0.89, a quick ratio of 5.68 and a current ratio of 5.68. The firm has a market cap of $576.42 million, a PE ratio of -8.29 and a beta of 1.20.

Insider Transactions at BlackSky Technology

In other BlackSky Technology news, CEO Brian E. O’toole sold 7,020 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 $74,763.00. Following the sale, the chief executive officer now owns 691,909 shares in the company, valued at approximately $7,368,830.85. This trade represents a 1.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Christiana L. Lin sold 5,550 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 $59,107.50. Following the sale, the chief accounting officer now owns 354,143 shares in the company, valued at approximately $3,771,622.95. The trade was a 1.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,086 shares of company stock worth $245,866 in the last quarter. Company insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On BlackSky Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Two Sigma Investments LP purchased a new stake in BlackSky Technology during the 4th quarter valued at approximately $1,219,000. Nuveen Asset Management LLC grew its holdings in BlackSky Technology by 20.5% during the 4th quarter. Nuveen Asset Management LLC now owns 72,890 shares of the company’s stock valued at $786,000 after buying an additional 12,378 shares in the last quarter. Mithril II GP LP purchased a new stake in BlackSky Technology during the 4th quarter valued at approximately $11,116,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in BlackSky Technology by 93.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,159 shares of the company’s stock valued at $153,000 after buying an additional 6,835 shares in the last quarter. Finally, Graham Capital Management L.P. purchased a new stake in BlackSky Technology during the 4th quarter valued at approximately $186,000. Institutional investors own 27.15% of the company’s stock.

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.