BlackSky Technology (NYSE:BKSY) Reaches New 52-Week High – Still a Buy?

BlackSky Technology Inc. (NYSE:BKSY) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $18.30 and last traded at $17.81, with a volume of 2975155 shares changing hands. The stock had previously closed at $15.19.

Analyst Upgrades and Downgrades

Separately, HC Wainwright raised their price objective on BlackSky Technology from $12.00 to $20.00 and gave the company a “buy” rating in a research note on Monday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $19.20.

BlackSky Technology Stock Performance

The company has a 50-day simple moving average of $11.67 and a 200 day simple moving average of $8.98. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.68 and a quick ratio of 5.68.

BlackSky Technology (NYSE:BKSY) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.05). The firm had revenue of $22.55 million during the quarter, compared to analysts’ expectations of $26.93 million. BlackSky Technology had a negative net margin of 38.83% and a negative return on equity of 49.91%. During the same quarter in the previous year, the firm posted ($0.96) EPS. On average, equities analysts expect that BlackSky Technology Inc. will post -2.28 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Brian E. O’toole sold 7,020 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 $74,763.00. Following the transaction, the chief executive officer now directly owns 691,909 shares of the company’s stock, valued at $7,368,830.85. This represents a 1.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Henry Edward Dubois sold 7,938 shares of the 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 $84,539.70. Following the completion of the transaction, the chief financial officer now directly owns 420,779 shares of the company’s stock, valued at $4,481,296.35. The trade was a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,086 shares of company stock valued at $245,866 over the last three months. 4.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On BlackSky Technology

Several institutional investors and hedge funds have recently made changes to their positions in the stock. SBI Securities Co. Ltd. acquired a new position in shares of BlackSky Technology in the fourth quarter valued at about $84,000. LexAurum Advisors LLC acquired a new position in shares of BlackSky Technology in the 4th quarter valued at $108,000. SG Americas Securities LLC purchased a new stake in shares of BlackSky Technology during the 4th quarter worth about $111,000. Capital Investment Counsel Inc purchased a new position in BlackSky Technology during the fourth quarter worth approximately $129,000. Finally, Rhumbline Advisers raised its stake in shares of BlackSky Technology by 98.5% during the 4th quarter. Rhumbline Advisers now owns 31,446 shares of the company’s stock worth $339,000 after buying an additional 15,607 shares during the period. 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.