BlackSky Technology (NYSE:BKSY) Shares Gap Up After Analyst Upgrade

BlackSky Technology Inc. (NYSE:BKSY) gapped up before the market opened on Wednesday after Oppenheimer raised their price target on the stock from $10.00 to $30.00. The stock had previously closed at $18.85, but opened at $20.49. Oppenheimer currently has an outperform rating on the stock. BlackSky Technology shares last traded at $20.49, with a volume of 953,612 shares changing hands.

Separately, HC Wainwright lifted their target price on shares of BlackSky Technology from $12.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, BlackSky Technology has a consensus rating of “Buy” and a consensus target price of $23.20.

Insider Activity

In related news, CEO Brian E. O’toole sold 7,020 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 value of $74,763.00. Following the sale, the chief executive officer now directly owns 691,909 shares of the company’s stock, valued at $7,368,830.85. This trade represents a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Henry Edward Dubois sold 7,938 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $10.65, for a total value of $84,539.70. Following the transaction, the chief financial officer now owns 420,779 shares in the company, valued at approximately $4,481,296.35. This represents a 1.85 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 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 Investors Weigh In On BlackSky Technology

Large investors have recently made changes to their positions in the business. Two Sigma Investments LP bought a new position in shares of BlackSky Technology during the fourth quarter valued at approximately $1,219,000. Nuveen Asset Management LLC increased its position in BlackSky Technology by 20.5% during the 4th quarter. Nuveen Asset Management LLC now owns 72,890 shares of the company’s stock valued at $786,000 after purchasing an additional 12,378 shares during the period. Mithril II GP LP bought a new position in BlackSky Technology in the 4th quarter worth $11,116,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of BlackSky Technology by 93.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,159 shares of the company’s stock worth $153,000 after purchasing an additional 6,835 shares during the period. Finally, Graham Capital Management L.P. bought a new stake in shares of BlackSky Technology during the 4th quarter valued at about $186,000. 27.15% of the stock is currently owned by institutional investors.

BlackSky Technology Price Performance

The company has a market cap of $513.41 million, a PE ratio of -7.38 and a beta of 1.20. The firm’s 50-day moving average is $13.12 and its 200-day moving average is $9.65. The company has a quick ratio of 5.68, a current ratio of 5.68 and a debt-to-equity ratio of 0.89.

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.