BlackSky Technology (NYSE:BKSY) Shares Down 9.4% - Here's Why

Shares of BlackSky Technology Inc. (NYSE:BKSY - Get Free Report) traded down 9.4% during mid-day trading on Thursday . The company traded as low as $18.02 and last traded at $18.09. 939,512 shares changed hands during trading, a decline of 46% from the average session volume of 1,743,490 shares. The stock had previously closed at $19.96.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Oppenheimer upped their target price on shares of BlackSky Technology from $10.00 to $30.00 and gave the stock an "outperform" rating in a research report on Wednesday. HC Wainwright upped their target price on shares of BlackSky Technology from $12.00 to $20.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $23.20.

BlackSky Technology Stock Performance

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 capitalization of $513.39 million, a P/E ratio of -7.38 and a beta of 1.20. The stock's 50 day moving average is $13.24 and its two-hundred day moving average is $9.71.

Insider Buying and Selling

In other BlackSky Technology news, CFO Henry Edward Dubois sold 7,938 shares of the company'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 $84,539.70. Following the completion of the sale, the chief financial officer now owns 420,779 shares of the company's stock, valued at approximately $4,481,296.35. This represents a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian E. O'toole sold 7,020 shares of the company'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 transaction of $74,763.00. Following the completion of the sale, the chief executive officer now directly owns 691,909 shares of the company's stock, valued at $7,368,830.85. The trade was a 1.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,086 shares of company stock valued at $245,866 over the last ninety days. Insiders own 4.50% of the company's stock.

Institutional Investors Weigh In On BlackSky Technology

Large investors have recently bought and sold shares of the company. Summit Investment Advisors Inc. increased its stake in BlackSky Technology by 115.2% in the fourth 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 in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of BlackSky Technology by 22.7% in the fourth quarter. BNP Paribas Financial Markets now owns 3,691 shares of the company's stock valued at $40,000 after buying an additional 683 shares during the period. Farther Finance Advisors LLC acquired a new position in shares of BlackSky Technology in the fourth quarter valued at approximately $44,000. CIBC Private Wealth Group LLC acquired a new position in shares of BlackSky Technology in the fourth quarter valued at approximately $76,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of BlackSky Technology in the fourth quarter valued at approximately $84,000. 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.