HC Wainwright Increases BlackSky Technology (NYSE:BKSY) Price Target to $20.00

BlackSky Technology (NYSE:BKSY) had its target price upped by stock analysts at HC Wainwright from $12.00 to $20.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 33.54% from the company’s previous close.

BlackSky Technology Stock Up 10.4 %

Shares of NYSE:BKSY opened at $14.98 on Monday. The stock has a market cap of $460.99 million, a price-to-earnings ratio of -6.63 and a beta of 1.20. The company has a quick ratio of 5.68, a current ratio of 5.68 and a debt-to-equity ratio of 0.89. BlackSky Technology has a 12-month low of $3.86 and a 12-month high of $17.39. The business’s 50 day moving average is $11.32 and its 200 day moving average is $8.82.

BlackSky Technology (NYSE:BKSY) last announced its earnings results on Thursday, November 7th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.05). The company had revenue of $22.55 million for the quarter, compared to analysts’ expectations of $26.93 million. BlackSky Technology had a negative net margin of 38.83% and a negative return on equity of 49.91%. During the same period in the previous year, the firm earned ($0.96) EPS. On average, sell-side analysts forecast that BlackSky Technology will post -2.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Henry Edward Dubois sold 7,938 shares of BlackSky Technology stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brian E. O’toole sold 7,020 shares of BlackSky Technology stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $10.65, for a total value of $74,763.00. Following the sale, the chief executive officer now owns 691,909 shares in the company, valued at $7,368,830.85. This trade represents a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,086 shares of company stock worth $245,866. 4.50% of the stock is owned by company insiders.

Institutional Trading of BlackSky Technology

Several hedge funds have recently made changes to their positions in BKSY. Squarepoint Ops LLC bought a new stake in shares of BlackSky Technology in the second quarter valued at $295,000. Perkins Capital Management Inc. bought a new stake in shares of BlackSky Technology in the third quarter valued at $1,114,000. Thompson Siegel & Walmsley LLC bought a new stake in shares of BlackSky Technology in the third quarter valued at $3,674,000. SG Americas Securities LLC bought a new stake in shares of BlackSky Technology in the fourth quarter valued at $111,000. Finally, LexAurum Advisors LLC bought a new stake in shares of BlackSky Technology in the fourth quarter valued at $108,000. 27.15% of the stock is currently owned by 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.