BlackSky Technology (NYSE:BKSY) Sees Strong Trading Volume - Time to Buy?

BlackSky Technology Inc. (NYSE:BKSY - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 388,979 shares traded hands during mid-day trading, an increase of 97% from the previous session's volume of 197,364 shares.The stock last traded at $6.26 and had previously closed at $6.26.

Analyst Upgrades and Downgrades

Several analysts have recently commented on BKSY shares. 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, October 4th. Oppenheimer started coverage on BlackSky Technology in a research note on Wednesday, October 2nd. They issued an "outperform" rating and a $10.00 price objective for the company. Finally, Lake Street Capital increased 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, September 30th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $19.20.

BlackSky Technology Price Performance

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 company has a market capitalization of $919.16 million, a PE ratio of -16.47 and a beta of 0.97. The stock has a 50-day moving average of $7.14 and a 200 day moving average of $8.46.

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

Insider Buying and Selling at BlackSky Technology

In other BlackSky Technology news, CAO Christiana L. Lin sold 13,031 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $7.19, for a total transaction of $93,692.89. Following the completion of 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Christiana L. Lin sold 13,031 shares of the firm's stock in a transaction 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 transaction, the chief accounting officer now directly owns 190,775 shares of the company's stock, valued at $1,371,672.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian E. O'toole sold 24,352 shares of the firm's stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $7.19, for a total value of $175,090.88. Following the completion of the transaction, the chief executive officer now directly owns 479,785 shares of the company's stock, valued at $3,449,654.15. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,362 shares of company stock valued at $446,535. Company insiders own 3.16% of the company's stock.

Hedge Funds Weigh In On BlackSky Technology

A number of large investors have recently made changes to their positions in the stock. Virtu Financial LLC boosted its stake in 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 buying an additional 83,462 shares during the period. Squarepoint Ops LLC bought a new stake in BlackSky Technology during the second quarter valued at $295,000. GSA Capital Partners LLP boosted its stake in BlackSky Technology by 123.8% during the first 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 during the period. LA Financiere DE L Echiquier boosted its stake in BlackSky Technology by 13.6% during the second quarter. LA Financiere DE L Echiquier now owns 933,000 shares of the company's stock valued at $998,000 after buying an additional 112,000 shares during the period. Finally, Vanguard Group Inc. boosted its stake in 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 buying an additional 800,287 shares during the period. 27.15% of the stock is owned by institutional investors.

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.