BlackSky Technology (NYSE:BKSY) Stock Price Down 5.6% - Here's What Happened

BlackSky Technology Inc. (NYSE:BKSY - Get Free Report) dropped 5.6% on Wednesday . The stock traded as low as $15.75 and last traded at $16.36. Approximately 791,533 shares changed hands during trading, a decline of 51% from the average daily volume of 1,612,777 shares. The stock had previously closed at $17.32.

Analysts Set New Price Targets

Separately, HC Wainwright raised their price objective on BlackSky Technology from $12.00 to $20.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, BlackSky Technology presently has a consensus rating of "Buy" and an average target price of $19.20.

BlackSky Technology Trading Down 5.3 %

The firm has a market capitalization of $517.94 million, a PE ratio of -7.45 and a beta of 1.20. 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 firm has a fifty day moving average of $12.51 and a 200 day moving average of $9.38.

Insider Buying and Selling at BlackSky Technology

In other news, CFO Henry Edward Dubois sold 7,938 shares of BlackSky Technology stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $10.65, for a total value 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. This trade represents a 1.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Christiana L. Lin sold 5,550 shares of BlackSky Technology stock in a transaction that occurred on Tuesday, December 10th. The stock was 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 owns 354,143 shares of the company's stock, valued at approximately $3,771,622.95. The trade was a 1.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,086 shares of company stock worth $245,866 in the last 90 days. 4.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BKSY. Ameritas Investment Partners Inc. grew its position in shares of BlackSky Technology by 115.2% in the 4th quarter. Ameritas Investment Partners Inc. now owns 2,626 shares of the company's stock worth $28,000 after acquiring an additional 1,406 shares in the last quarter. Farther Finance Advisors LLC acquired a new position in shares of BlackSky Technology in the 4th quarter worth approximately $44,000. CIBC Private Wealth Group LLC acquired a new position in shares of BlackSky Technology in the 4th quarter worth approximately $76,000. SBI Securities Co. Ltd. acquired a new position in shares of BlackSky Technology in the 4th quarter worth approximately $84,000. Finally, LexAurum Advisors LLC acquired a new position in shares of BlackSky Technology in the 4th quarter worth approximately $108,000. Institutional investors and hedge funds 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.