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

BlackSky Technology Inc. (NYSE:BKSY) gapped up before the market opened on Wednesday after Oppenheimer raised their price target on the stock from $10.00 to $30.00. The stock had previously closed at $18.85, but opened at $20.49. Oppenheimer currently has an outperform rating on the stock. BlackSky Technology shares last traded at $20.49, with a volume of 953,612 shares.

Separately, HC Wainwright upped their price objective on shares of BlackSky Technology from $12.00 to $20.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, BlackSky Technology presently has an average rating of “Buy” and an average target price of $23.20.

Insider Activity

In other news, CEO Brian E. O’toole sold 7,020 shares of BlackSky Technology stock in a transaction 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 completion of the sale, the chief executive officer now 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Christiana L. Lin sold 5,550 shares of the company’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 completion of the transaction, the chief accounting officer now owns 354,143 shares in the company, valued at $3,771,622.95. This trade represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,086 shares of company stock valued at $245,866. 4.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BKSY. Summit Investment Advisors Inc. grew its position in BlackSky Technology by 115.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,626 shares of the company’s stock worth $28,000 after buying an additional 1,406 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of BlackSky Technology by 22.7% during the 4th quarter. BNP Paribas Financial Markets now owns 3,691 shares of the company’s stock worth $40,000 after purchasing an additional 683 shares in the last quarter. Farther Finance Advisors LLC bought a new position in shares of BlackSky Technology in the fourth quarter worth $44,000. CIBC Private Wealth Group LLC bought a new position in shares of BlackSky Technology in the fourth quarter worth $76,000. Finally, SBI Securities Co. Ltd. acquired a new position in BlackSky Technology in the fourth quarter valued at about $84,000. Institutional investors and hedge funds own 27.15% of the company’s stock.

BlackSky Technology Price Performance

The company has a debt-to-equity ratio of 0.89, a current ratio of 5.68 and a quick ratio of 5.68. The firm has a market cap of $513.41 million, a P/E ratio of -7.38 and a beta of 1.20. The company’s 50-day moving average is $13.12 and its two-hundred day moving average is $9.65.

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.