BlackSky Technology (NYSE:BKSY) Trading Down 5.6% – Here’s What Happened

Shares of BlackSky Technology Inc. (NYSE:BKSY) were down 5.6% during trading on Wednesday . The company traded as low as $15.75 and last traded at $16.36. Approximately 791,533 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 1,612,777 shares. The stock had previously closed at $17.32.

Analysts Set New Price Targets

Separately, HC Wainwright upped their price objective on BlackSky Technology from $12.00 to $20.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $19.20.

BlackSky Technology Trading Down 5.2 %

The company’s fifty day moving average price is $12.00 and its two-hundred day moving average price is $9.15. The firm has a market cap of $505.35 million, a PE ratio of -7.24 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.

Insider Buying and Selling

In related news, CFO Henry Edward Dubois sold 7,938 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $10.65, for a total value of $84,539.70. Following the completion of the transaction, the chief financial officer now directly owns 420,779 shares in the company, valued at approximately $4,481,296.35. This represents a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Christiana L. Lin sold 5,550 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 $59,107.50. Following the transaction, the chief accounting officer now directly owns 354,143 shares of the company’s stock, valued at $3,771,622.95. This trade represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,086 shares of company stock valued at $245,866. Corporate insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On BlackSky Technology

A number of large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC acquired a new position in BlackSky Technology during the 4th quarter worth $44,000. Corebridge Financial Inc. increased its holdings in BlackSky Technology by 73.0% in the fourth quarter. Corebridge Financial Inc. now owns 12,481 shares of the company’s stock valued at $135,000 after buying an additional 5,266 shares during the last quarter. CIBC Private Wealth Group LLC acquired a new stake in BlackSky Technology during the fourth quarter valued at approximately $76,000. SBI Securities Co. Ltd. bought a new position in BlackSky Technology during the 4th quarter worth approximately $84,000. Finally, LexAurum Advisors LLC bought a new stake in BlackSky Technology during the fourth quarter valued at $108,000. 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.