Oppenheimer Forecasts Strong Price Appreciation for BlackSky Technology (NYSE:BKSY) Stock

BlackSky Technology (NYSE:BKSY - Get Free Report) had its price objective upped by analysts at Oppenheimer from $10.00 to $30.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Oppenheimer's target price points to a potential upside of 79.86% from the stock's current price.

Separately, HC Wainwright lifted their price target 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, the stock currently has an average rating of "Buy" and an average target price of $23.20.

BlackSky Technology Price Performance

Shares of BKSY stock traded down $1.63 on Wednesday, hitting $16.68. 1,983,847 shares of the stock traded hands, compared to its average volume of 1,792,987. 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 price-to-earnings ratio of -7.38 and a beta of 1.20. The firm has a 50 day simple moving average of $13.12 and a two-hundred day simple moving average of $9.65. BlackSky Technology has a 52 week low of $3.86 and a 52 week high of $21.92.

Insiders Place Their Bets

In other BlackSky Technology news, CAO Christiana L. Lin sold 5,550 shares of BlackSky Technology stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $10.65, for a total value 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 trade represents a 1.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Henry Edward Dubois sold 7,938 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 $84,539.70. Following the completion of the transaction, the chief financial officer now directly owns 420,779 shares of the company's stock, valued at $4,481,296.35. The trade was a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,086 shares of company stock valued at $245,866 in the last three months. Corporate insiders own 4.50% of the company's stock.

Hedge Funds Weigh In On BlackSky Technology

Large investors have recently made changes to their positions in the company. Summit Investment Advisors Inc. boosted its stake in shares of BlackSky Technology by 115.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,626 shares of the company's stock worth $28,000 after purchasing an additional 1,406 shares during the period. BNP Paribas Financial Markets boosted its stake 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 during the period. Farther Finance Advisors LLC purchased a new position in shares of BlackSky Technology during the 4th quarter worth about $44,000. CIBC Private Wealth Group LLC purchased a new position in shares of BlackSky Technology during the 4th quarter worth about $76,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of BlackSky Technology during the 4th quarter worth about $84,000. 27.15% of the stock is owned by hedge funds and other institutional investors.

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.