BlackSky Technology (NYSE:BKSY) Reaches New 1-Year High – Should You Buy?

Shares of BlackSky Technology Inc. (NYSE:BKSY) reached a new 52-week high during trading on Tuesday . The stock traded as high as $16.38 and last traded at $16.97, with a volume of 2172893 shares. The stock had previously closed at $13.16.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on BKSY shares. Craig Hallum upgraded shares of BlackSky Technology from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Friday, October 4th. Oppenheimer started coverage on BlackSky Technology in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $10.00 price target for the company. Finally, HC Wainwright cut their price objective on BlackSky Technology from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $17.60.

BlackSky Technology Stock Down 4.0 %

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 firm’s fifty day moving average is $11.18 and its 200 day moving average is $8.75.

BlackSky Technology (NYSE:BKSY) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($0.05). BlackSky Technology had a negative return on equity of 49.91% and a negative net margin of 38.83%. The company had revenue of $22.55 million for the quarter, compared to analyst estimates of $26.93 million. During the same quarter last year, the company earned ($0.96) EPS. Equities research analysts expect that BlackSky Technology Inc. will post -2.28 earnings per share for the current year.

Insider Transactions at BlackSky Technology

In related news, CFO Henry Edward Dubois sold 7,938 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were 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 in the company, valued at approximately $4,481,296.35. This trade represents a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Christiana L. Lin sold 5,550 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $10.65, for a total transaction of $59,107.50. Following the completion of the transaction, the chief accounting officer now owns 354,143 shares in the company, valued at approximately $3,771,622.95. This 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 valued at $245,866 over the last 90 days. 4.50% of the stock is currently owned by corporate insiders.

Institutional Trading of BlackSky Technology

Hedge funds have recently modified their holdings of the stock. Squarepoint Ops LLC acquired a new position in BlackSky Technology during the 2nd quarter worth $295,000. Perkins Capital Management Inc. acquired a new stake in BlackSky Technology in the third quarter valued at approximately $1,114,000. Thompson Siegel & Walmsley LLC acquired a new position in BlackSky Technology during the 3rd quarter worth approximately $3,674,000. SG Americas Securities LLC acquired a new stake in shares of BlackSky Technology during the 4th quarter worth about $111,000. Finally, LexAurum Advisors LLC purchased a new stake in BlackSky Technology in the fourth quarter valued at $108,000. 27.15% of the stock is currently owned by institutional investors and hedge funds.

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.