BlackSky Technology (NYSE:BKSY) Sees Unusually-High Trading Volume – Time to Buy?

Shares of BlackSky Technology Inc. (NYSE:BKSY) saw an uptick in trading volume on Monday . 388,979 shares were traded 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.

Analysts Set New Price Targets

Several research firms have weighed in on BKSY. 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 report on Monday, September 30th. Oppenheimer initiated coverage on shares of BlackSky Technology in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $10.00 price target for the company. HC Wainwright lowered their target price on BlackSky Technology from $15.00 to $12.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Craig Hallum raised BlackSky Technology from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Friday, October 4th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $17.60.

BlackSky Technology Stock Up 0.5 %

The business’s 50 day moving average is $7.07 and its 200 day moving average is $8.40. The company has a debt-to-equity ratio of 1.41, a quick ratio of 4.19 and a current ratio of 4.19. The stock has a market cap of $900.07 million, a price-to-earnings ratio of -16.13 and a beta of 0.97.

BlackSky Technology (NYSE:BKSY) last posted its earnings results on Thursday, August 8th. The company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.24. BlackSky Technology had a negative net margin of 26.78% and a negative return on equity of 56.91%. The business had revenue of $24.94 million for the quarter, compared to analyst estimates of $25.14 million. During the same quarter in the prior year, the firm earned ($1.92) EPS. Equities analysts expect that BlackSky Technology Inc. will post -2.52 earnings per share for the current year.

Insider Transactions 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 sale, the chief accounting officer now owns 190,775 shares in the company, valued at $1,371,672.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Henry Edward Dubois sold 23,590 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $7.19, for a total transaction of $169,612.10. Following the transaction, the chief financial officer now owns 231,645 shares in the company, valued at $1,665,527.55. 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 available at the SEC website. Also, 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 sale, the chief accounting officer now directly owns 190,775 shares of the company’s stock, valued at approximately $1,371,672.25. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,362 shares of company stock worth $446,535 over the last ninety days. 3.16% of the stock is owned by insiders.

Hedge Funds Weigh In On BlackSky Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the business. 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 worth $7,197,000 after buying an additional 800,287 shares during the last quarter. Virtu Financial LLC raised its position in BlackSky Technology by 134.5% in the first quarter. Virtu Financial LLC now owns 145,514 shares of the company’s stock worth $198,000 after acquiring an additional 83,462 shares in the last quarter. GSA Capital Partners LLP grew its holdings in BlackSky Technology by 123.8% in the first quarter. GSA Capital Partners LLP now owns 315,900 shares of the company’s stock valued at $430,000 after purchasing an additional 174,773 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of BlackSky Technology in the second quarter valued at $295,000. Finally, LA Financiere DE L Echiquier grew its holdings in BlackSky Technology by 13.6% in the 2nd 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. 27.15% of the stock is currently owned by institutional investors.

BlackSky Technology Company Profile

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.