BlackSky Technology (NYSE:BKSY) Trading Down 9.4% – Should You Sell?

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

Analysts Set New Price Targets

Several brokerages have issued reports on BKSY. Oppenheimer lifted their price target on shares of BlackSky Technology from $10.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday. HC Wainwright lifted their price target on shares of BlackSky Technology from $12.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $23.20.

BlackSky Technology Trading Down 9.4 %

The business’s 50-day moving average price is $12.97 and its 200 day moving average price is $9.59. The company has a market cap of $556.81 million, a P/E ratio of -8.00 and a beta of 1.20. The company has a debt-to-equity ratio of 0.89, a quick ratio of 5.68 and a current ratio of 5.68.

Insider Activity

In related news, CFO Henry Edward Dubois sold 7,938 shares of the company’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Christiana L. Lin sold 5,550 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $10.65, for a total transaction of $59,107.50. Following the completion of the transaction, the chief accounting officer now owns 354,143 shares in the company, valued at approximately $3,771,622.95. This trade represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,086 shares of company stock valued at $245,866 in the last quarter. Company insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BKSY. Mithril II GP LP acquired a new position in BlackSky Technology in the 4th quarter valued at about $11,116,000. Thompson Siegel & Walmsley LLC acquired a new position in shares of BlackSky Technology during the 3rd quarter worth approximately $3,674,000. Invesco Ltd. acquired a new position in shares of BlackSky Technology during the 4th quarter worth approximately $3,868,000. Trexquant Investment LP grew its position in shares of BlackSky Technology by 2,309.8% during the 4th quarter. Trexquant Investment LP now owns 301,590 shares of the company’s stock worth $3,254,000 after purchasing an additional 289,075 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of BlackSky Technology by 94.2% during the 4th quarter. Geode Capital Management LLC now owns 551,444 shares of the company’s stock worth $5,951,000 after purchasing an additional 267,427 shares in the last quarter. Institutional investors and hedge funds own 27.15% of the company’s stock.

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.