BlackSky Technology (NYSE:BKSY) Trading Up 8.1% – Here’s What Happened

BlackSky Technology Inc. (NYSE:BKSY) rose 8.1% on Monday . The company traded as high as $24.29 and last traded at $24.71. Approximately 209,183 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 1,629,932 shares. The stock had previously closed at $22.85.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Jefferies Financial Group initiated coverage on BlackSky Technology in a report on Monday, December 22nd. They issued a “buy” rating and a $23.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of BlackSky Technology in a report on Wednesday, January 21st. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $28.00.

BlackSky Technology Stock Down 7.1%

The company has a debt-to-equity ratio of 2.08, a quick ratio of 3.89 and a current ratio of 3.89. The stock has a market cap of $761.37 million, a PE ratio of -6.74 and a beta of 2.43. The company’s 50-day moving average price is $22.37 and its 200 day moving average price is $20.54.

Hedge Funds Weigh In On BlackSky Technology

Institutional investors have recently bought and sold shares of the stock. Global Retirement Partners LLC purchased a new stake in BlackSky Technology in the fourth quarter worth about $28,000. Wexford Capital LP bought a new position in shares of BlackSky Technology during the 3rd quarter valued at approximately $30,000. IFP Advisors Inc increased its holdings in BlackSky Technology by 35,575.0% in the 2nd quarter. IFP Advisors Inc now owns 1,427 shares of the company’s stock worth $32,000 after acquiring an additional 1,423 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in BlackSky Technology by 6,937.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,689 shares of the company’s stock worth $35,000 after acquiring an additional 1,665 shares in the last quarter. Finally, Jones Financial Companies Lllp bought a new stake in BlackSky Technology during the 3rd quarter worth approximately $50,000. 27.15% of the stock is owned by institutional investors.

BlackSky Technology Company Profile

BlackSky Technology, Inc operates Earth observation and geospatial intelligence services through a constellation of small satellites and an analytics platform. The company collects and processes high-revisit satellite imagery, enabling near-real-time monitoring of global events and locations. Clients across government, defense and commercial sectors leverage BlackSky’s imagery and data to support decision-making in areas such as supply chain monitoring, humanitarian aid, infrastructure management and security operations.

Founded in 2014 as part of Spaceflight Industries, BlackSky has grown its satellite constellation and analytics capabilities to deliver satellite imagery with high revisit rates and rapid tasking.