BlackSky Technology (NYSE:BKSY) Shares Gap Up – Here’s Why

BlackSky Technology Inc. (NYSE:BKSY) shares 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.

Analyst Ratings Changes

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

BlackSky Technology Stock Performance

The firm has a 50-day simple moving average of $12.63 and a two-hundred day simple moving average of $9.44. The company has a debt-to-equity ratio of 0.89, a quick ratio of 5.68 and a current ratio of 5.68. The company has a market capitalization of $660.45 million, a price-to-earnings ratio of -9.49 and a beta of 1.20.

Insider Buying and Selling

In related news, CFO Henry Edward Dubois sold 7,938 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was 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 directly owns 420,779 shares of the company’s stock, valued at $4,481,296.35. This represents a 1.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Christiana L. Lin sold 5,550 shares of the business’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 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 represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,086 shares of company stock worth $245,866 over the last 90 days. 4.50% of the stock is owned by insiders.

Hedge Funds Weigh In On BlackSky Technology

Hedge funds have recently modified their holdings of the business. Two Sigma Investments LP purchased a new stake in BlackSky Technology in the 4th quarter valued at $1,219,000. Nuveen Asset Management LLC raised its holdings in shares of BlackSky Technology by 20.5% in the fourth quarter. Nuveen Asset Management LLC now owns 72,890 shares of the company’s stock valued at $786,000 after buying an additional 12,378 shares during the last quarter. Mithril II GP LP purchased a new stake in shares of BlackSky Technology in the fourth quarter valued at about $11,116,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of BlackSky Technology by 93.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,159 shares of the company’s stock worth $153,000 after buying an additional 6,835 shares during the last quarter. Finally, Graham Capital Management L.P. acquired a new position in BlackSky Technology in the 4th quarter valued at about $186,000. 27.15% of the stock is currently owned by hedge funds and other institutional investors.

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.