BlackSky Technology (NYSE:BKSY) Trading Up 5.2% - What's Next?

BlackSky Technology Inc. (NYSE:BKSY - Get Free Report)'s share price shot up 5.2% during trading on Friday . The company traded as high as $5.40 and last traded at $5.25. 517,731 shares were traded during trading, an increase of 222% from the average session volume of 160,567 shares. The stock had previously closed at $4.99.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BKSY. Lake Street Capital lifted their price objective on BlackSky Technology from $4.00 to $32.00 and gave the stock a "buy" rating in a research note on Monday. Oppenheimer began coverage on BlackSky Technology in a research note on Wednesday. They set an "outperform" rating and a $10.00 price objective for the company. Finally, Craig Hallum raised BlackSky Technology from a "hold" rating to a "buy" rating and set a $10.00 price objective for the company in a research note on Friday. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $19.20.

BlackSky Technology Trading Up 8.8 %

The company has a fifty day simple moving average of $2.64 and a two-hundred day simple moving average of $1.68. The company has a quick ratio of 4.19, a current ratio of 4.19 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $797.29 million, a P/E ratio of -14.76 and a beta of 0.97.

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

Insider Activity

In other news, CEO Brian E. O'toole sold 24,352 shares of the business's stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $7.19, for a total value of $175,090.88. Following the sale, the chief executive officer now directly owns 479,785 shares in the company, valued at $3,449,654.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Christiana L. Lin sold 13,031 shares of the business's stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $7.19, for a total value of $93,692.89. Following the sale, the chief accounting officer now directly owns 190,775 shares in the company, valued at $1,371,672.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brian E. O'toole sold 24,352 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 $175,090.88. Following the completion of the sale, the chief executive officer now owns 479,785 shares in the company, valued at approximately $3,449,654.15. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 62,362 shares of company stock worth $446,535 over the last three months. Corporate insiders own 3.16% of the company's stock.

Institutional Trading of BlackSky Technology

A number of hedge funds and other institutional investors have recently modified their holdings of BKSY. Virtu Financial LLC increased 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 acquiring an additional 83,462 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of BlackSky Technology in the second quarter valued at about $295,000. GSA Capital Partners LLP increased its position in shares of BlackSky Technology by 123.8% in the first quarter. GSA Capital Partners LLP now owns 315,900 shares of the company's stock valued at $430,000 after acquiring an additional 174,773 shares during the last quarter. LA Financiere DE L Echiquier increased its position in shares of BlackSky Technology by 13.6% in the second quarter. LA Financiere DE L Echiquier now owns 933,000 shares of the company's stock valued at $998,000 after acquiring an additional 112,000 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in BlackSky Technology by 17.8% during the first quarter. Vanguard Group Inc. now owns 5,291,909 shares of the company's stock worth $7,197,000 after buying an additional 800,287 shares during the last quarter. 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.