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

BlackSky Technology Inc. (NYSE:BKSY - Get Free Report)'s stock price gapped up prior to trading 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 traded.

Insider Activity

In related news, CEO Brian E. O'toole sold 7,020 shares of the firm's 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 transaction, the chief executive officer now owns 691,909 shares of the company's stock, valued at approximately $7,368,830.85. This trade represents a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 completion of the transaction, the chief accounting officer now owns 354,143 shares in the company, valued at $3,771,622.95. The trade was a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,086 shares of company stock worth $245,866. Insiders own 4.50% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Squarepoint Ops LLC purchased a new stake in shares of BlackSky Technology in the second quarter worth $295,000. Perkins Capital Management Inc. bought a new position in BlackSky Technology in the 3rd quarter worth $1,114,000. Thompson Siegel & Walmsley LLC purchased a new stake in BlackSky Technology in the 3rd quarter worth $3,674,000. SG Americas Securities LLC bought a new stake in BlackSky Technology during the fourth quarter valued at about $111,000. Finally, LexAurum Advisors LLC purchased a new position in shares of BlackSky Technology in the fourth quarter valued at about $108,000. Institutional investors own 27.15% of the company's stock.

BlackSky Technology Stock Performance

The company has a quick ratio of 5.68, a current ratio of 5.68 and a debt-to-equity ratio of 0.89. The business has a 50 day moving average price of $11.79 and a two-hundred day moving average price of $9.04. The stock has a market cap of $507.47 million, a P/E ratio of -7.30 and a beta of 1.20.

BlackSky Technology (NYSE:BKSY - Get Free Report) last released 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 company had revenue of $22.55 million during the quarter, compared to analysts' expectations of $26.93 million. BlackSky Technology had a negative return on equity of 49.91% and a negative net margin of 38.83%. During the same period last year, the firm posted ($0.96) EPS. On average, sell-side analysts forecast that BlackSky Technology Inc. will post -2.28 earnings per share for the current fiscal 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.