BlackSky Technology (NYSE:BKSY) Stock Price Down 9.4% – What’s Next?

BlackSky Technology Inc. (NYSE:BKSY)’s share price fell 9.4% during mid-day trading on Thursday . The company traded as low as $18.02 and last traded at $18.09. 939,512 shares traded 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

A number of brokerages recently issued reports on BKSY. HC Wainwright upped 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, February 3rd. Oppenheimer boosted their target price on BlackSky Technology from $10.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $23.20.

BlackSky Technology Stock Performance

The firm’s 50-day moving average price is $13.24 and its 200-day moving average price is $9.71. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.68 and a quick ratio of 5.68. The stock has a market cap of $513.41 million, a P/E ratio of -7.38 and a beta of 1.20.

Insider Transactions at BlackSky Technology

In other news, CFO Henry Edward Dubois sold 7,938 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $10.65, for a total transaction of $84,539.70. Following the completion of the transaction, 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 filing with the SEC, which is available through this link. Also, CAO Christiana L. Lin sold 5,550 shares of the stock in a transaction 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 transaction, the chief accounting officer now directly owns 354,143 shares of the company’s stock, valued at approximately $3,771,622.95. This represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,086 shares of company stock worth $245,866. 4.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BlackSky Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Summit Investment Advisors Inc. increased its position in BlackSky Technology by 115.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,626 shares of the company’s stock worth $28,000 after buying an additional 1,406 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of BlackSky Technology by 22.7% in the fourth 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 acquired a new position in BlackSky Technology during the fourth quarter worth $44,000. CIBC Private Wealth Group LLC acquired a new position in BlackSky Technology during the fourth quarter worth $76,000. Finally, SBI Securities Co. Ltd. acquired a new position in BlackSky Technology during the fourth quarter worth $84,000. 27.15% of the stock is currently owned by hedge funds and other institutional investors.

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.