BlackSky Technology (NYSE:BKSY) Reaches New 12-Month High – Here’s Why

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

Analyst Upgrades and Downgrades

BKSY has been the topic of several research reports. Oppenheimer increased their price target on shares of BlackSky Technology from $10.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday. HC Wainwright increased their price target on shares of BlackSky Technology from $12.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $23.20.

BlackSky Technology Trading Down 8.2 %

The company has a current ratio of 5.68, a quick ratio of 5.68 and a debt-to-equity ratio of 0.89. The company has a 50-day simple moving average of $12.97 and a 200 day simple moving average of $9.59. The firm has a market cap of $564.17 million, a PE ratio of -8.11 and a beta of 1.20.

Insiders Place Their Bets

In other news, CAO Christiana L. Lin sold 5,550 shares of the 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 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 position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Henry Edward Dubois sold 7,938 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 value of $84,539.70. Following the transaction, the chief financial officer now owns 420,779 shares in the company, valued at $4,481,296.35. This trade represents a 1.85 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,086 shares of company stock worth $245,866. Corporate insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

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

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.