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

BlackSky Technology Inc. (NYSE:BKSY)’s stock price gapped up prior to trading 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 trading hands.

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

Insider Activity

In other BlackSky Technology news, CEO Brian E. O’toole sold 7,020 shares of BlackSky Technology stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $10.65, for a total value of $74,763.00. Following the sale, the chief executive officer now directly owns 691,909 shares in the company, valued at approximately $7,368,830.85. The trade was a 1.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $59,107.50. Following the sale, the chief accounting officer now directly owns 354,143 shares in the company, valued at $3,771,622.95. This trade represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,086 shares of company stock worth $245,866 over the last quarter. 4.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BlackSky Technology

Several hedge funds have recently modified their holdings of the stock. Perkins Capital Management Inc. acquired a new position in BlackSky Technology during the third quarter valued at approximately $1,114,000. Thompson Siegel & Walmsley LLC bought a new stake in shares of BlackSky Technology during the 3rd quarter worth approximately $3,674,000. SG Americas Securities LLC acquired a new stake in shares of BlackSky Technology in the 4th quarter valued at approximately $111,000. LexAurum Advisors LLC bought a new position in shares of BlackSky Technology in the fourth quarter valued at $108,000. Finally, Griffin Asset Management Inc. bought a new position in shares of BlackSky Technology in the fourth quarter valued at $196,000. Institutional investors own 27.15% of the company’s stock.

BlackSky Technology Stock Performance

The company has a quick ratio of 5.68, a current ratio of 5.68 and a debt-to-equity ratio of 0.89. The stock’s fifty day moving average is $13.12 and its two-hundred day moving average is $9.65. The firm has a market capitalization of $513.41 million, a price-to-earnings ratio of -7.38 and a beta of 1.20.

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.