BlackSky Technology (NYSE:BKSY) Hits New 52-Week High – Still a Buy?

BlackSky Technology Inc. (NYSE:BKSY)’s share price reached 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 changing hands. The stock had previously closed at $15.19.

Wall Street Analyst Weigh In

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

BlackSky Technology Price Performance

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 company has a quick ratio of 5.68, a current ratio of 5.68 and a debt-to-equity ratio of 0.89. The company’s 50-day moving average is $11.54 and its 200-day moving average is $8.92.

BlackSky Technology (NYSE:BKSY) last issued its earnings results 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). The company had revenue of $22.55 million during the quarter, compared to analyst estimates of $26.93 million. BlackSky Technology had a negative return on equity of 49.91% and a negative net margin of 38.83%. During the same period in the previous year, the company posted ($0.96) earnings per share. Equities research analysts expect that BlackSky Technology Inc. will post -2.28 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Brian E. O’toole sold 7,020 shares of the business’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 value of $74,763.00. Following the transaction, the chief executive officer now directly owns 691,909 shares of the company’s stock, valued at $7,368,830.85. The trade was a 1.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Christiana L. Lin sold 5,550 shares of the firm’s 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 sale, the chief accounting officer now directly owns 354,143 shares of the company’s stock, valued at $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. In the last quarter, insiders have sold 23,086 shares of company stock worth $245,866. Corporate insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its position in shares of BlackSky Technology by 89.1% during the fourth quarter. Bank of New York Mellon Corp now owns 56,298 shares of the company’s stock worth $607,000 after purchasing an additional 26,528 shares in the last quarter. Capital Investment Counsel Inc bought a new position in BlackSky Technology in the 4th quarter worth approximately $129,000. Rhumbline Advisers boosted its position in BlackSky Technology by 98.5% in the 4th quarter. Rhumbline Advisers now owns 31,446 shares of the company’s stock valued at $339,000 after buying an additional 15,607 shares during the last quarter. Patriot Financial Group Insurance Agency LLC bought a new position in BlackSky Technology in the 4th quarter valued at $1,297,000. Finally, Griffin Asset Management Inc. acquired a new stake in shares of BlackSky Technology in the 4th quarter valued at $196,000. Institutional investors and hedge funds 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.