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

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

Analysts Set New Price Targets

BKSY has been the subject of several research reports. Lake Street Capital increased their price objective on BlackSky Technology from $4.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Oppenheimer initiated coverage on BlackSky Technology in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $10.00 price objective for the company. Craig Hallum raised BlackSky Technology from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Friday, October 4th. Finally, HC Wainwright reduced their price objective on BlackSky Technology from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $17.60.

BlackSky Technology Stock Performance

The stock has a market capitalization of $444.56 million, a P/E ratio of -6.51 and a beta of 1.16. The firm has a 50-day moving average of $10.94 and a 200 day moving average of $8.64. The company has a quick ratio of 5.68, a current ratio of 5.68 and a debt-to-equity ratio of 0.89.

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

Insider Buying and Selling

In other BlackSky Technology news, CFO Henry Edward Dubois sold 7,938 shares of BlackSky Technology stock in a transaction 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 directly owns 420,779 shares of the company’s stock, valued at approximately $4,481,296.35. This trade represents a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Christiana L. Lin sold 5,550 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $10.65, for a total value of $59,107.50. Following the completion of the sale, the chief accounting officer now owns 354,143 shares of the company’s stock, valued at approximately $3,771,622.95. This trade represents a 1.54 % 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 ninety days. 4.50% of the stock is owned by company insiders.

Institutional Trading of BlackSky Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in BKSY. Thompson Siegel & Walmsley LLC acquired a new stake in BlackSky Technology in the third quarter worth about $3,674,000. Squarepoint Ops LLC acquired a new position in BlackSky Technology during the 2nd quarter valued at about $295,000. Perkins Capital Management Inc. acquired a new position in BlackSky Technology during the 3rd quarter valued at about $1,114,000. Patriot Financial Group Insurance Agency LLC acquired a new position in BlackSky Technology during the 4th quarter valued at about $1,297,000. Finally, Griffin Asset Management Inc. acquired a new position in BlackSky Technology during the 4th quarter valued at about $196,000. 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.