BlackSky Technology Target of Unusually High Options Trading (NYSE:BKSY)

BlackSky Technology Inc. (NYSE:BKSY) was the recipient of some unusual options trading on Wednesday. Traders bought 6,261 call options on the stock. This is an increase of approximately 159% compared to the average daily volume of 2,420 call options.

BlackSky Technology Trading Up 7.1%

Shares of BlackSky Technology stock opened at $32.02 on Thursday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 3.34 and a current ratio of 3.46. The company’s fifty day moving average is $27.04 and its two-hundred day moving average is $29.40. BlackSky Technology has a 1 year low of $12.41 and a 1 year high of $52.88. The company has a market capitalization of $1.31 billion, a P/E ratio of -17.59 and a beta of 2.61.

BlackSky Technology (NYSE:BKSY) last issued its earnings results on Thursday, August 6th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.16). BlackSky Technology had a negative net margin of 61.24% and a negative return on equity of 68.90%. The firm had revenue of $33.32 million during the quarter, compared to analysts’ expectations of $30.72 million. Analysts forecast that BlackSky Technology will post -1.27 earnings per share for the current year.

Institutional Trading of BlackSky Technology

Several hedge funds have recently modified their holdings of BKSY. Quarry LP purchased a new position in BlackSky Technology in the fourth quarter worth $26,000. Strive Financial Group LLC purchased a new stake in shares of BlackSky Technology during the 4th quarter worth $26,000. Global Retirement Partners LLC acquired a new position in shares of BlackSky Technology during the 4th quarter worth $28,000. Wexford Capital LP acquired a new position in shares of BlackSky Technology during the 3rd quarter worth $30,000. Finally, IFP Advisors Inc increased its holdings in shares of BlackSky Technology by 57.9% in the 3rd quarter. IFP Advisors Inc now owns 2,253 shares of the company’s stock valued at $45,000 after purchasing an additional 826 shares in the last quarter. 27.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BKSY has been the topic of several recent analyst reports. Clear Str upgraded shares of BlackSky Technology from a “hold” rating to a “strong-buy” rating in a report on Monday. Jefferies Financial Group raised shares of BlackSky Technology to a “hold” rating in a research report on Wednesday, June 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of BlackSky Technology in a report on Friday, July 17th. Finally, Wall Street Zen lowered BlackSky Technology from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $39.33.

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.