BlackSky Technology (NYSE:BKSY) Stock Price Up 5.2% – Here’s Why

Shares of BlackSky Technology Inc. (NYSE:BKSY) rose 5.2% during trading on Friday . The company traded as high as $5.40 and last traded at $5.25. Approximately 517,731 shares changed hands during trading, an increase of 222% from the average daily volume of 160,567 shares. The stock had previously closed at $4.99.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on BKSY shares. Oppenheimer initiated coverage on BlackSky Technology in a research report on Wednesday. They issued an “outperform” rating and a $10.00 price objective for the company. Lake Street Capital increased their price target on shares of BlackSky Technology from $4.00 to $32.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, Craig Hallum upgraded shares of BlackSky Technology from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Friday. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, BlackSky Technology currently has an average rating of “Buy” and a consensus target price of $19.20.

BlackSky Technology Price Performance

The stock has a market cap of $101.05 million, a price-to-earnings ratio of -14.29 and a beta of 0.97. The company has a debt-to-equity ratio of 1.41, a current ratio of 4.19 and a quick ratio of 4.19. The stock’s 50 day simple moving average is $7.40 and its two-hundred day simple moving average is $8.64.

BlackSky Technology (NYSE:BKSY) last issued its earnings results on Thursday, August 8th. The company reported ($0.48) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.24. BlackSky Technology had a negative net margin of 26.78% and a negative return on equity of 56.91%. The business had revenue of $24.94 million for the quarter, compared to analyst estimates of $25.14 million. During the same period in the previous year, the business earned ($1.92) EPS. On average, analysts forecast that BlackSky Technology Inc. will post -2.52 earnings per share for the current fiscal year.

Insider Transactions at BlackSky Technology

In related news, CFO Henry Edward Dubois sold 23,590 shares of the business’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 $169,612.10. Following the sale, the chief financial officer now owns 231,645 shares of the company’s stock, valued at $1,665,527.55. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other BlackSky Technology news, CAO Christiana L. Lin sold 13,031 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $7.19, for a total transaction of $93,692.89. Following 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Henry Edward Dubois sold 23,590 shares of BlackSky Technology 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 $169,612.10. Following the completion of the transaction, the chief financial officer now owns 231,645 shares of the company’s stock, valued at $1,665,527.55. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,362 shares of company stock valued at $446,535. Corporate insiders own 3.16% of the company’s stock.

Institutional Investors Weigh In On BlackSky Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in BlackSky Technology by 17.8% in the first quarter. Vanguard Group Inc. now owns 5,291,909 shares of the company’s stock worth $7,197,000 after purchasing an additional 800,287 shares in the last quarter. Squarepoint Ops LLC bought a new stake in BlackSky Technology during the 2nd quarter worth about $295,000. GSA Capital Partners LLP grew its holdings in 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 acquiring an additional 174,773 shares during the last quarter. LA Financiere DE L Echiquier increased its position in BlackSky Technology by 13.6% in the 2nd quarter. LA Financiere DE L Echiquier now owns 933,000 shares of the company’s stock valued at $998,000 after acquiring an additional 112,000 shares in the last quarter. Finally, Virtu Financial LLC lifted its position in shares of 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 purchasing an additional 83,462 shares in the last quarter. 27.15% of the stock is owned by institutional investors and hedge funds.

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.