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

BlackSky Technology Inc. (NYSE:BKSY) shares gapped up before the market opened 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.

Insider Buying and Selling

In other BlackSky Technology news, CFO Henry Edward Dubois sold 7,938 shares of BlackSky Technology 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 completion of the transaction, the chief financial officer now owns 420,779 shares in the company, valued at approximately $4,481,296.35. The trade was a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brian E. O’toole sold 7,020 shares of the 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 completion of the sale, the chief executive officer now owns 691,909 shares in the company, valued at $7,368,830.85. This represents a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,086 shares of company stock worth $245,866 in the last quarter. Company insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On BlackSky Technology

Institutional investors have recently made changes to their positions in the stock. Thompson Siegel & Walmsley LLC acquired a new stake in BlackSky Technology during the third quarter worth approximately $3,674,000. Squarepoint Ops LLC purchased a new stake in shares of BlackSky Technology in the second quarter valued at $295,000. Perkins Capital Management Inc. acquired a new position in BlackSky Technology in the third quarter valued at $1,114,000. Patriot Financial Group Insurance Agency LLC purchased a new position in BlackSky Technology during the fourth quarter worth about $1,297,000. Finally, Bank of New York Mellon Corp boosted its stake in BlackSky Technology by 89.1% in the 4th quarter. Bank of New York Mellon Corp now owns 56,298 shares of the company’s stock worth $607,000 after buying an additional 26,528 shares during the last quarter. 27.15% of the stock is owned by institutional investors and hedge funds.

BlackSky Technology Stock Down 0.5 %

The firm has a fifty day simple moving average of $11.67 and a 200 day simple moving average of $8.98. 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 company has a market cap of $542.22 million, a PE ratio of -7.79 and a beta of 1.20.

BlackSky Technology (NYSE:BKSY) last released its earnings results 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). BlackSky Technology had a negative net margin of 38.83% and a negative return on equity of 49.91%. The company had revenue of $22.55 million during the quarter, compared to analysts’ expectations of $26.93 million. During the same quarter in the previous year, the firm posted ($0.96) earnings per share. Equities research analysts predict that BlackSky Technology Inc. will post -2.28 EPS 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.