BlackSky Technology (NYSE:BKSY) Sees Large Volume Increase – Time to Buy?

BlackSky Technology Inc. (NYSE:BKSY) saw unusually-high trading volume on Tuesday . Approximately 530,284 shares were traded during mid-day trading, an increase of 155% from the previous session’s volume of 208,091 shares.The stock last traded at $6.30 and had previously closed at $6.41.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Lake Street Capital increased their target price on shares of BlackSky Technology from $4.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Oppenheimer began coverage on BlackSky Technology in a report on Wednesday, October 2nd. They set an “outperform” rating and a $10.00 price objective for the company. HC Wainwright dropped their target price on BlackSky Technology from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Finally, Craig Hallum raised shares of BlackSky Technology from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a report on Friday, October 4th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, BlackSky Technology currently has a consensus rating of “Buy” and a consensus target price of $17.60.

BlackSky Technology Stock Performance

The business’s 50 day moving average is $6.85 and its 200-day moving average is $8.22. 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 results on Thursday, August 8th. The company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.24. The firm had revenue of $24.94 million during the quarter, compared to the consensus estimate of $25.14 million. BlackSky Technology had a negative net margin of 26.78% and a negative return on equity of 56.91%. During the same quarter in the prior year, the firm earned ($1.92) EPS. As a group, analysts forecast that BlackSky Technology Inc. will post -2.33 EPS for the current year.

Insider Buying and Selling at BlackSky Technology

In other BlackSky Technology news, CEO Brian E. O’toole sold 24,352 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $7.19, for a total value of $175,090.88. Following the completion of the sale, the chief executive officer now directly owns 479,785 shares in the company, valued at $3,449,654.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other BlackSky Technology news, CEO Brian E. O’toole sold 24,352 shares of the business’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 $175,090.88. Following the transaction, the chief executive officer now directly owns 479,785 shares in the company, valued at $3,449,654.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Christiana L. Lin sold 13,031 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $7.19, for a total transaction of $93,692.89. Following the completion of the sale, the chief accounting officer now directly owns 190,775 shares of the company’s stock, valued at approximately $1,371,672.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,362 shares of company stock worth $446,535. Insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On BlackSky Technology

A number of hedge funds have recently modified their holdings of BKSY. Virtu Financial LLC boosted its stake in BlackSky Technology by 134.5% during the first quarter. Virtu Financial LLC now owns 145,514 shares of the company’s stock worth $198,000 after buying an additional 83,462 shares during the period. Squarepoint Ops LLC acquired a new position in shares of BlackSky Technology in the 2nd quarter worth approximately $295,000. GSA Capital Partners LLP boosted its position in shares of BlackSky Technology by 123.8% during the 1st quarter. GSA Capital Partners LLP now owns 315,900 shares of the company’s stock worth $430,000 after purchasing an additional 174,773 shares during the period. LA Financiere DE L Echiquier lifted its stake in BlackSky Technology by 13.6% during the second 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 in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of BlackSky Technology by 17.8% during the first 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 period. 27.15% of the stock is currently owned by hedge funds and other institutional investors.

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.