BlackSky Technology (NYSE:BKSY) Shares Gap Up After Analyst Upgrade

Shares of BlackSky Technology Inc. (NYSE:BKSY) gapped up before the market opened on Wednesday after Oppenheimer raised their price target on the stock from $10.00 to $30.00. The stock had previously closed at $18.85, but opened at $20.49. Oppenheimer currently has an outperform rating on the stock. BlackSky Technology shares last traded at $20.49, with a volume of 953,612 shares changing hands.

Separately, HC Wainwright upped their price objective on shares of BlackSky Technology from $12.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $23.20.

Insider Buying and Selling

In other BlackSky Technology news, CAO Christiana L. Lin sold 5,550 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $10.65, for a total value of $59,107.50. Following the completion of the transaction, the chief accounting officer now owns 354,143 shares of the company’s stock, valued at approximately $3,771,622.95. The trade was a 1.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Henry Edward Dubois sold 7,938 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $10.65, for a total transaction of $84,539.70. Following the transaction, the chief financial officer now owns 420,779 shares in the company, valued at $4,481,296.35. This represents a 1.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,086 shares of company stock worth $245,866 in the last three months. Insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On BlackSky Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Summit Investment Advisors Inc. raised its stake in BlackSky Technology by 115.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,626 shares of the company’s stock valued at $28,000 after buying an additional 1,406 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of BlackSky Technology by 22.7% in the fourth quarter. BNP Paribas Financial Markets now owns 3,691 shares of the company’s stock worth $40,000 after acquiring an additional 683 shares during the period. Farther Finance Advisors LLC purchased a new stake in BlackSky Technology during the fourth quarter valued at $44,000. CIBC Private Wealth Group LLC bought a new position in BlackSky Technology in the fourth quarter valued at about $76,000. Finally, SBI Securities Co. Ltd. bought a new position in BlackSky Technology in the fourth quarter valued at about $84,000. Hedge funds and other institutional investors own 27.15% of the company’s stock.

BlackSky Technology Price Performance

The firm has a 50-day simple moving average of $13.12 and a 200-day simple moving average of $9.65. The firm has a market capitalization of $513.41 million, a PE ratio of -7.38 and a beta of 1.20. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.68 and a quick ratio of 5.68.

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.