BlackSky Technology (NYSE:BKSY) Hits New 12-Month High – Here’s Why

BlackSky Technology Inc. (NYSE:BKSY)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $18.30 and last traded at $17.81, with a volume of 2975155 shares. The stock had previously closed at $15.19.

Analyst Upgrades and Downgrades

Separately, HC Wainwright boosted their price target on shares of BlackSky Technology from $12.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $19.20.

BlackSky Technology Stock Up 17.3 %

The stock has a market cap of $548.20 million, a price-to-earnings ratio of -7.88 and a beta of 1.20. The firm has a 50 day simple moving average of $11.54 and a two-hundred day simple moving average of $8.92. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.68 and a quick ratio of 5.68.

BlackSky Technology (NYSE:BKSY) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.05). BlackSky Technology had a negative net margin of 38.83% and a negative return on equity of 49.91%. The firm had revenue of $22.55 million for the quarter, compared to analyst estimates of $26.93 million. During the same quarter in the prior year, the firm posted ($0.96) EPS. As a group, sell-side analysts expect that BlackSky Technology Inc. will post -2.28 EPS for the current year.

Insider Activity at BlackSky Technology

In other BlackSky Technology news, CFO Henry Edward Dubois sold 7,938 shares of the firm’s 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 $84,539.70. Following the sale, the chief financial officer now directly 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Christiana L. Lin sold 5,550 shares of BlackSky Technology 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 completion of the transaction, the chief accounting officer now directly 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 disclosure for this sale can be found here. Insiders sold a total of 23,086 shares of company stock worth $245,866 in the last quarter. Corporate insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On BlackSky Technology

A number of large investors have recently added to or reduced their stakes in BKSY. LexAurum Advisors LLC bought a new stake in shares of BlackSky Technology in the fourth quarter valued at about $108,000. SG Americas Securities LLC acquired a new stake in BlackSky Technology in the 4th quarter valued at approximately $111,000. Capital Investment Counsel Inc bought a new stake in BlackSky Technology in the 4th quarter valued at approximately $129,000. Griffin Asset Management Inc. acquired a new position in BlackSky Technology during the 4th quarter worth approximately $196,000. Finally, Rhumbline Advisers grew its stake in shares of BlackSky Technology by 98.5% during the 4th quarter. Rhumbline Advisers now owns 31,446 shares of the company’s stock worth $339,000 after acquiring an additional 15,607 shares in the last quarter. 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.