Oppenheimer Issues Positive Forecast for BlackSky Technology (NYSE:BKSY) Stock Price

BlackSky Technology (NYSE:BKSY) had its price target increased by investment analysts at Oppenheimer from $10.00 to $30.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price objective indicates a potential upside of 43.99% from the stock’s current price.

Separately, HC Wainwright boosted their price objective on BlackSky Technology from $12.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $23.20.

BlackSky Technology Price Performance

NYSE:BKSY traded up $1.99 during mid-day trading on Wednesday, reaching $20.84. The stock had a trading volume of 2,773,620 shares, compared to its average volume of 1,717,535. The company has a debt-to-equity ratio of 0.89, a quick ratio of 5.68 and a current ratio of 5.68. BlackSky Technology has a one year low of $3.86 and a one year high of $21.92. The firm has a 50 day moving average price of $12.63 and a two-hundred day moving average price of $9.44. The stock has a market capitalization of $641.30 million, a P/E ratio of -9.36 and a beta of 1.20.

Insider Buying and Selling

In other news, CAO Christiana L. Lin sold 5,550 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $10.65, for a total value of $59,107.50. Following the sale, the chief accounting officer now directly owns 354,143 shares of the company’s stock, valued at approximately $3,771,622.95. This represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brian E. O’toole sold 7,020 shares of the company’s 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,086 shares of company stock valued at $245,866 over the last ninety days. Company insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Mithril II GP LP bought a new position in BlackSky Technology in the fourth quarter valued at about $11,116,000. Thompson Siegel & Walmsley LLC bought a new position in BlackSky Technology in the third quarter valued at about $3,674,000. Geode Capital Management LLC lifted its holdings in BlackSky Technology by 94.2% in the fourth quarter. Geode Capital Management LLC now owns 551,444 shares of the company’s stock valued at $5,951,000 after acquiring an additional 267,427 shares during the period. Invesco Ltd. bought a new position in BlackSky Technology in the fourth quarter valued at about $3,868,000. Finally, Trexquant Investment LP increased its position in BlackSky Technology by 2,309.8% in the fourth quarter. Trexquant Investment LP now owns 301,590 shares of the company’s stock worth $3,254,000 after buying an additional 289,075 shares in the last quarter. 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.