BlackSky Technology (NYSE:BKSY) Shares Gap Up – Still a Buy?

BlackSky Technology Inc. (NYSE:BKSY)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $16.36, but opened at $17.57. BlackSky Technology shares last traded at $16.96, with a volume of 481,600 shares changing hands.

Wall Street Analyst Weigh In

Separately, HC Wainwright increased 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 data from MarketBeat.com, BlackSky Technology has a consensus rating of “Buy” and an average price target of $19.20.

BlackSky Technology Price Performance

The company has a current ratio of 5.68, a quick ratio of 5.68 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $525.26 million, a P/E ratio of -7.60 and a beta of 1.20. The company has a fifty day simple moving average of $12.24 and a two-hundred day simple moving average of $9.26.

Insider Activity at BlackSky Technology

In other BlackSky Technology news, CAO Christiana L. Lin sold 5,550 shares of the firm’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 transaction, the chief accounting officer now owns 354,143 shares in the company, valued at approximately $3,771,622.95. This trade represents a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian E. O’toole sold 7,020 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 691,909 shares of the company’s stock, valued at approximately $7,368,830.85. This represents a 1.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,086 shares of company stock worth $245,866 over the last ninety days. Company insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On BlackSky Technology

Institutional investors and hedge funds have recently made changes to their positions in the company. Thompson Siegel & Walmsley LLC bought a new position in BlackSky Technology during the third quarter worth about $3,674,000. Invesco Ltd. bought a new stake in shares of BlackSky Technology in the fourth quarter worth about $3,868,000. Trexquant Investment LP raised its position in shares of BlackSky Technology by 2,309.8% during the fourth quarter. Trexquant Investment LP now owns 301,590 shares of the company’s stock worth $3,254,000 after purchasing an additional 289,075 shares during the period. Geode Capital Management LLC lifted its holdings in shares of BlackSky Technology by 94.2% during the 4th quarter. Geode Capital Management LLC now owns 551,444 shares of the company’s stock valued at $5,951,000 after purchasing an additional 267,427 shares in the last quarter. Finally, Perkins Capital Management Inc. acquired a new position in shares of BlackSky Technology in the 3rd quarter valued at approximately $1,114,000. Institutional investors and hedge funds own 27.15% of the company’s stock.

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.