BlackSky Technology (NYSE:BKSY) Reaches New 12-Month High - Here's What Happened

BlackSky Technology Inc. (NYSE:BKSY - Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $18.30 and last traded at $17.81, with a volume of 2975155 shares changing hands. The stock had previously closed at $15.19.

Analyst Upgrades and Downgrades

Separately, HC Wainwright lifted their target price 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 research analysts have rated the stock with a buy rating, According to MarketBeat, BlackSky Technology presently has an average rating of "Buy" and a consensus price target of $19.20.

BlackSky Technology Trading Down 0.9 %

The company has a market capitalization of $507.45 million, a P/E ratio of -7.30 and a beta of 1.20. The business has a 50 day moving average price of $11.88 and a 200 day moving average price of $9.09. The company has a current ratio of 5.68, a quick ratio of 5.68 and a debt-to-equity ratio of 0.89.

BlackSky Technology (NYSE:BKSY - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported ($0.66) EPS for the quarter, missing the consensus estimate of ($0.61) by ($0.05). The firm had revenue of $22.55 million during the quarter, compared to the consensus estimate of $26.93 million. BlackSky Technology had a negative net margin of 38.83% and a negative return on equity of 49.91%. During the same period in the previous year, the company posted ($0.96) EPS. Analysts anticipate that BlackSky Technology Inc. will post -2.28 EPS for the current year.

Insider Activity

In other news, CAO Christiana L. Lin sold 5,550 shares of the company's stock in a transaction dated Tuesday, December 10th. The stock was 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 directly owns 354,143 shares of the company's stock, valued at $3,771,622.95. This represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian E. O'toole sold 7,020 shares of BlackSky Technology 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 $74,763.00. Following the completion of the sale, the chief executive officer now directly owns 691,909 shares in the company, valued at approximately $7,368,830.85. This represents a 1.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,086 shares of company stock valued at $245,866 in the last quarter. Company insiders own 4.50% of the company's stock.

Institutional Trading of BlackSky Technology

Institutional investors have recently made changes to their positions in the business. SBI Securities Co. Ltd. bought a new position in BlackSky Technology in the fourth quarter valued at approximately $84,000. LexAurum Advisors LLC bought a new position in shares of BlackSky Technology in the 4th quarter valued at about $108,000. SG Americas Securities LLC acquired a new position in BlackSky Technology during the fourth quarter worth approximately $111,000. Capital Investment Counsel Inc acquired a new position in shares of BlackSky Technology during the 4th quarter worth approximately $129,000. Finally, Griffin Asset Management Inc. bought a new position in shares of BlackSky Technology in the fourth quarter valued at about $196,000. Institutional investors own 27.15% of the company's stock.

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.