BlackSky Technology (NYSE:BKSY) Stock Price Down 9.4% – Here’s Why

BlackSky Technology Inc. (NYSE:BKSY) was down 9.4% during trading on Thursday . The stock traded as low as $18.02 and last traded at $18.09. Approximately 939,512 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 1,743,490 shares. The stock had previously closed at $19.96.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on BKSY shares. 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 note on Monday, February 3rd. Oppenheimer lifted their target price on shares of BlackSky Technology from $10.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $23.20.

BlackSky Technology Trading Down 8.9 %

The firm has a market cap of $513.41 million, a P/E ratio of -7.38 and a beta of 1.20. The firm’s fifty day moving average is $13.24 and its two-hundred day moving average is $9.71. The company has a quick ratio of 5.68, a current ratio of 5.68 and a debt-to-equity ratio of 0.89.

Insider Activity at BlackSky Technology

In other news, CAO Christiana L. Lin sold 5,550 shares of the business’s stock in a transaction 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 owns 354,143 shares in the company, valued at approximately $3,771,622.95. The trade was a 1.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Henry Edward Dubois sold 7,938 shares of the business’s stock in a transaction 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 sale, the chief financial officer now owns 420,779 shares in the company, valued at approximately $4,481,296.35. This trade represents a 1.85 % 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 quarter. Corporate insiders own 4.50% of the company’s stock.

Institutional Trading of BlackSky Technology

Hedge funds have recently modified their holdings of the business. Summit Investment Advisors Inc. boosted its holdings in shares of BlackSky Technology by 115.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,626 shares of the company’s stock valued at $28,000 after buying an additional 1,406 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of BlackSky Technology by 22.7% during the 4th quarter. BNP Paribas Financial Markets now owns 3,691 shares of the company’s stock valued at $40,000 after buying an additional 683 shares in the last quarter. Farther Finance Advisors LLC bought a new stake in shares of BlackSky Technology during the 4th quarter valued at $44,000. CIBC Private Wealth Group LLC bought a new stake in shares of BlackSky Technology during the 4th quarter valued at $76,000. Finally, SBI Securities Co. Ltd. bought a new position in BlackSky Technology in the 4th quarter worth about $84,000. Institutional investors 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.