HC Wainwright Reiterates Buy Rating for BlackSky Technology (NYSE:BKSY)

BlackSky Technology (NYSE:BKSY)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a note issued to investors on Friday,Benzinga reports. They currently have a $20.00 price target on the stock. HC Wainwright’s target price points to a potential upside of 101.51% from the stock’s previous close.

Separately, Oppenheimer boosted their target price on shares of BlackSky Technology from $10.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $21.80.

BlackSky Technology Price Performance

Shares of BKSY stock opened at $9.93 on Friday. The stock’s fifty day simple moving average is $13.66 and its 200 day simple moving average is $10.06. BlackSky Technology has a one year low of $3.86 and a one year high of $21.92. The firm has a market cap of $305.48 million, a price-to-earnings ratio of -4.39 and a beta of 1.27. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.68 and a quick ratio of 5.68.

Insiders Place Their Bets

In other news, CAO Christiana L. Lin sold 5,550 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 $59,107.50. Following the sale, the chief accounting officer now directly owns 354,143 shares of the company’s stock, valued at $3,771,622.95. This represents a 1.54 % 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 that occurred on Tuesday, December 10th. The stock was 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 owns 420,779 shares of the company’s stock, valued at $4,481,296.35. This trade represents a 1.85 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,086 shares of company stock valued at $245,866. 4.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BlackSky Technology

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its holdings in BlackSky Technology by 22.7% in the fourth quarter. BNP Paribas Financial Markets now owns 3,691 shares of the company’s stock valued at $40,000 after acquiring an additional 683 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in shares of BlackSky Technology by 115.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,626 shares of the company’s stock valued at $28,000 after purchasing an additional 1,406 shares during the last quarter. Bridgeway Capital Management LLC grew its position in shares of BlackSky Technology by 2.9% during the 4th quarter. Bridgeway Capital Management LLC now owns 59,450 shares of the company’s stock worth $641,000 after buying an additional 1,700 shares during the period. Farther Finance Advisors LLC bought a new stake in shares of BlackSky Technology during the fourth quarter worth approximately $44,000. Finally, Corebridge Financial Inc. lifted its holdings in BlackSky Technology by 73.0% in the fourth quarter. Corebridge Financial Inc. now owns 12,481 shares of the company’s stock valued at $135,000 after buying an additional 5,266 shares during the period. 27.15% of the stock is owned by institutional investors and hedge funds.

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.