BlackSky Technology (NYSE:BKSY) Reaches New 12-Month High – Here’s Why

BlackSky Technology Inc. (NYSE:BKSY) shares hit a new 52-week high on Tuesday . The stock traded as high as $20.20 and last traded at $19.73, with a volume of 1173109 shares traded. The stock had previously closed at $16.83.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on BKSY shares. Oppenheimer boosted their price target on shares of BlackSky Technology from $10.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday. HC Wainwright lifted their price objective on shares of BlackSky Technology from $12.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $23.20.

BlackSky Technology Price Performance

The stock has a market capitalization of $564.17 million, a PE ratio of -8.11 and a beta of 1.20. 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 50 day moving average price is $12.97 and its 200-day moving average price is $9.59.

Insider Activity

In other news, CEO Brian E. O’toole sold 7,020 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $10.65, for a total transaction of $74,763.00. Following the completion of the sale, the chief executive officer now directly owns 691,909 shares of the company’s stock, valued at approximately $7,368,830.85. The trade was a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Henry Edward Dubois sold 7,938 shares of the company’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 $84,539.70. Following the completion of the sale, the chief financial officer now directly owns 420,779 shares of the company’s stock, valued at approximately $4,481,296.35. This trade represents a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,086 shares of company stock valued at $245,866. 4.50% of the stock is currently owned by company insiders.

Institutional Trading of BlackSky Technology

A number of hedge funds have recently added to or reduced their stakes in BKSY. Perkins Capital Management Inc. purchased a new stake in BlackSky Technology in the third quarter worth about $1,114,000. Thompson Siegel & Walmsley LLC purchased a new stake in BlackSky Technology in the third quarter worth about $3,674,000. SG Americas Securities LLC bought a new position in BlackSky Technology in the fourth quarter worth about $111,000. LexAurum Advisors LLC bought a new position in BlackSky Technology in the fourth quarter worth about $108,000. Finally, Griffin Asset Management Inc. bought a new position in BlackSky Technology in the fourth quarter worth about $196,000. 27.15% of the stock is owned by hedge funds and other 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.