BlackSky Technology (NYSE:BKSY) Shares Gap Up – Still a Buy?

BlackSky Technology Inc. (NYSE:BKSY)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $18.85, but opened at $20.49. BlackSky Technology shares last traded at $20.49, with a volume of 953,612 shares.

Wall Street Analyst Weigh In

Separately, HC Wainwright lifted their price objective on shares of BlackSky Technology from $12.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, BlackSky Technology presently has an average rating of “Buy” and a consensus target price of $19.20.

BlackSky Technology Price Performance

The company has a current ratio of 5.68, a quick ratio of 5.68 and a debt-to-equity ratio of 0.89. The stock has a fifty day simple moving average of $12.63 and a two-hundred day simple moving average of $9.44. The company has a market cap of $660.45 million, a PE ratio of -9.49 and a beta of 1.20.

Insider Activity 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 value of $84,539.70. Following the completion of the sale, the chief financial officer now owns 420,779 shares in the company, valued at $4,481,296.35. This trade represents a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian E. O’toole sold 7,020 shares of the business’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 sale, the chief executive officer now directly owns 691,909 shares in the company, valued at approximately $7,368,830.85. This represents a 1.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,086 shares of company stock worth $245,866 over the last three months. 4.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BlackSky Technology

A number of institutional investors and hedge funds have recently modified their holdings of BKSY. Perkins Capital Management Inc. purchased a new stake in BlackSky Technology during the third quarter worth $1,114,000. Thompson Siegel & Walmsley LLC purchased a new stake in shares of BlackSky Technology in the 3rd quarter worth about $3,674,000. SG Americas Securities LLC purchased a new stake in shares of BlackSky Technology in the 4th quarter worth about $111,000. LexAurum Advisors LLC acquired a new stake in BlackSky Technology in the 4th quarter valued at about $108,000. Finally, Griffin Asset Management Inc. purchased a new position in BlackSky Technology during the 4th quarter valued at about $196,000. Institutional investors and hedge funds own 27.15% of the company’s stock.

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.