BlackSky Technology (NYSE:BKSY) Trading Down 9.4% – Should You Sell?

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

Several analysts have recently commented on BKSY shares. HC Wainwright increased their price target on shares of BlackSky Technology from $12.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Oppenheimer increased their price target on shares of BlackSky Technology from $10.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday. Five research analysts have rated the stock with a buy rating, According to MarketBeat, BlackSky Technology currently has an average rating of “Buy” and a consensus price target of $23.20.

BlackSky Technology Trading Down 9.4 %

The stock has a market capitalization of $556.81 million, a P/E ratio of -8.00 and a beta of 1.20. 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 business’s 50 day simple moving average is $12.97 and its 200-day simple moving average is $9.59.

Insider Buying and Selling at BlackSky Technology

In other BlackSky Technology news, 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 sale, the chief accounting officer now directly owns 354,143 shares in the company, valued at approximately $3,771,622.95. This trade represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Henry Edward Dubois sold 7,938 shares of the 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 completion of the sale, the chief financial officer now 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,086 shares of company stock valued at $245,866. 4.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BlackSky Technology

Several hedge funds have recently bought and sold shares of the company. Summit Investment Advisors Inc. raised its holdings in shares of 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 acquiring an additional 1,406 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of BlackSky Technology by 22.7% during the fourth quarter. BNP Paribas Financial Markets now owns 3,691 shares of the company’s stock worth $40,000 after acquiring an additional 683 shares during the period. Farther Finance Advisors LLC acquired a new stake in shares of BlackSky Technology during the fourth quarter worth $44,000. CIBC Private Wealth Group LLC acquired a new stake in shares of BlackSky Technology during the fourth quarter worth $76,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of BlackSky Technology during the fourth quarter worth $84,000. 27.15% of the stock is currently owned by institutional investors and hedge funds.

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.