BlackSky Technology (NYSE:BKSY) Shares Gap Up - Should You Buy?

Shares of BlackSky Technology Inc. (NYSE:BKSY - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $5.43, but opened at $5.60. BlackSky Technology shares last traded at $5.56, with a volume of 264,624 shares traded.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BKSY. Oppenheimer initiated coverage on BlackSky Technology in a report on Wednesday, October 2nd. They set an "outperform" rating and a $10.00 price target for the company. Craig Hallum raised shares of BlackSky Technology from a "hold" rating to a "buy" rating and set a $10.00 target price for the company in a research note on Friday. Finally, Lake Street Capital boosted their price target on shares of BlackSky Technology from $4.00 to $32.00 and gave the company a "buy" rating in a research note on Monday, September 30th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $19.20.

BlackSky Technology Stock Performance

The company has a current ratio of 4.19, a quick ratio of 4.19 and a debt-to-equity ratio of 1.41. The company has a market capitalization of $819.31 million, a price-to-earnings ratio of -14.24 and a beta of 0.97. The stock's fifty day simple moving average is $7.40 and its 200-day simple moving average is $8.63.

BlackSky Technology (NYSE:BKSY - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.72) by $0.24. The company had revenue of $24.94 million during the quarter, compared to the consensus estimate of $25.14 million. BlackSky Technology had a negative net margin of 26.78% and a negative return on equity of 56.91%. During the same quarter in the previous year, the firm earned ($1.92) earnings per share. Analysts predict that BlackSky Technology Inc. will post -2.52 EPS for the current year.

Insider Transactions at BlackSky Technology

In other news, CAO Christiana L. Lin sold 13,031 shares of BlackSky Technology stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $7.19, for a total transaction of $93,692.89. Following the sale, the chief accounting officer now owns 190,775 shares in the company, valued at approximately $1,371,672.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other BlackSky Technology news, CAO Christiana L. Lin sold 13,031 shares of the firm's stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $7.19, for a total transaction of $93,692.89. Following the transaction, the chief accounting officer now directly owns 190,775 shares of the company's stock, valued at approximately $1,371,672.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Henry Edward Dubois sold 23,590 shares of the business's stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $7.19, for a total value of $169,612.10. Following the completion of the transaction, the chief financial officer now owns 231,645 shares in the company, valued at $1,665,527.55. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,362 shares of company stock worth $446,535. 3.16% of the stock is currently owned by insiders.

Institutional Trading of BlackSky Technology

A number of large investors have recently made changes to their positions in BKSY. Squarepoint Ops LLC acquired a new stake in BlackSky Technology during the second quarter worth approximately $295,000. LA Financiere DE L Echiquier boosted its holdings in shares of BlackSky Technology by 13.6% during the second quarter. LA Financiere DE L Echiquier now owns 933,000 shares of the company's stock worth $998,000 after purchasing an additional 112,000 shares during the last quarter. Virtu Financial LLC grew its position in shares of BlackSky Technology by 134.5% in the first quarter. Virtu Financial LLC now owns 145,514 shares of the company's stock valued at $198,000 after purchasing an additional 83,462 shares during the period. Vanguard Group Inc. increased its stake in BlackSky Technology by 17.8% in the first quarter. Vanguard Group Inc. now owns 5,291,909 shares of the company's stock valued at $7,197,000 after purchasing an additional 800,287 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its position in BlackSky Technology by 123.8% during the first quarter. GSA Capital Partners LLP now owns 315,900 shares of the company's stock worth $430,000 after buying an additional 174,773 shares during the period. Institutional investors and hedge funds own 27.15% of the company's stock.

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.