BlackSky Technology (NYSE:BKSY) Shares Up 4.6% - Here's Why

BlackSky Technology Inc. (NYSE:BKSY - Get Free Report) shares rose 4.6% on Monday . The stock traded as high as $6.42 and last traded at $6.39. Approximately 310,771 shares changed hands during trading, an increase of 52% from the average daily volume of 203,902 shares. The stock had previously closed at $6.11.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. HC Wainwright decreased their price target on shares of BlackSky Technology from $15.00 to $12.00 and set a "buy" rating on the stock in a research note on Wednesday, October 16th. Oppenheimer initiated coverage on BlackSky Technology in a research report on Wednesday, October 2nd. They issued an "outperform" rating and a $10.00 target price on the stock. Craig Hallum upgraded BlackSky Technology from a "hold" rating to a "buy" rating and set a $10.00 price target for the company in a report on Friday, October 4th. Finally, Lake Street Capital upped their price objective on BlackSky Technology from $4.00 to $32.00 and gave the stock a "buy" rating in a report on Monday, September 30th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $17.60.

BlackSky Technology Trading Up 4.9 %

The stock has a market cap of $119.29 million, a P/E ratio of -4.01 and a beta of 0.97. The company has a debt-to-equity ratio of 1.41, a quick ratio of 4.19 and a current ratio of 4.19. The stock's fifty day moving average is $6.92 and its 200 day moving average is $8.26.

BlackSky Technology (NYSE:BKSY - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.72) by $0.24. The business had revenue of $24.94 million during 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 last year, the company earned ($1.92) EPS. As a group, equities research analysts predict that BlackSky Technology Inc. will post -2.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Henry Edward Dubois sold 23,590 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $7.19, for a total value of $169,612.10. Following the sale, the chief financial officer now owns 231,645 shares of the company's stock, valued at approximately $1,665,527.55. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Henry Edward Dubois sold 23,590 shares of the company's stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $7.19, for a total transaction of $169,612.10. Following the transaction, the chief financial officer now owns 231,645 shares of the company's stock, valued at approximately $1,665,527.55. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Christiana L. Lin sold 13,031 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $7.19, for a total value of $93,692.89. Following the completion of 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 disclosure for this sale can be found here. Insiders sold 62,362 shares of company stock valued at $446,535 over the last three months. 4.50% of the stock is owned by company insiders.

Institutional Trading of BlackSky Technology

A number of large investors have recently made changes to their positions in the stock. GSA Capital Partners LLP lifted its holdings in BlackSky Technology by 123.8% during the 1st quarter. GSA Capital Partners LLP now owns 315,900 shares of the company's stock valued at $430,000 after buying an additional 174,773 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of BlackSky Technology by 17.8% during the first quarter. Vanguard Group Inc. now owns 5,291,909 shares of the company's stock valued at $7,197,000 after acquiring an additional 800,287 shares in the last quarter. Virtu Financial LLC raised its stake in shares of BlackSky Technology by 134.5% during 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 in the last quarter. LA Financiere DE L Echiquier grew its stake in BlackSky Technology by 13.6% in 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 in the last quarter. Finally, Squarepoint Ops LLC bought a new position in BlackSky Technology in the second quarter worth approximately $295,000. 27.15% of the stock is owned by hedge funds and other institutional investors.

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.