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

BlackSky Technology (NYSE:BKSY - Get Free Report) had its price target increased by stock analysts at HC Wainwright from $12.00 to $20.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. HC Wainwright's target price points to a potential upside of 20.20% from the company's current price.

BlackSky Technology Trading Down 5.8 %

BKSY stock traded down $1.02 during midday trading on Monday, hitting $16.64. 1,170,565 shares of the company's stock were exchanged, compared to its average volume of 1,724,073. The business has a 50-day simple moving average of $11.67 and a two-hundred day simple moving average of $8.98. The company has a current ratio of 5.68, a quick ratio of 5.68 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $512.15 million, a PE ratio of -7.36 and a beta of 1.20. BlackSky Technology has a 1-year low of $3.86 and a 1-year high of $18.33.

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

Insider Transactions at BlackSky Technology

In other news, CEO Brian E. O'toole sold 7,020 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $10.65, for a total value of $74,763.00. Following the sale, the chief executive officer now directly owns 691,909 shares in the company, valued at approximately $7,368,830.85. This trade represents a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Henry Edward Dubois sold 7,938 shares of the stock in a transaction 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 in the company, valued at approximately $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 a total of 23,086 shares of company stock worth $245,866 over the last ninety days. Company insiders own 4.50% of the company's stock.

Institutional Trading of BlackSky Technology

Several hedge funds have recently modified their holdings of BKSY. Squarepoint Ops LLC purchased a new position in BlackSky Technology in the second quarter valued at $295,000. Perkins Capital Management Inc. purchased a new position in BlackSky Technology in the third quarter valued at $1,114,000. Thompson Siegel & Walmsley LLC purchased a new position in BlackSky Technology in the third quarter valued at $3,674,000. SG Americas Securities LLC purchased a new position in BlackSky Technology in the fourth quarter valued at $111,000. Finally, LexAurum Advisors LLC purchased a new position in BlackSky Technology in the fourth quarter valued at $108,000. 27.15% of the stock is currently owned by institutional investors and hedge funds.

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.