BlackSky Technology (NYSE:BKSY) Shares Down 5.6% – Should You Sell?

BlackSky Technology Inc. (NYSE:BKSY)’s stock price traded down 5.6% during trading on Wednesday . The stock traded as low as $15.75 and last traded at $16.36. 791,533 shares changed hands during trading, a decline of 51% from the average session volume of 1,612,777 shares. The stock had previously closed at $17.32.

Analyst Ratings Changes

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

BlackSky Technology Price Performance

The company has a debt-to-equity ratio of 0.89, a quick ratio of 5.68 and a current ratio of 5.68. The company has a 50-day moving average price of $12.00 and a 200-day moving average price of $9.15. The firm has a market capitalization of $505.35 million, a P/E ratio of -7.24 and a beta of 1.20.

Insiders Place Their Bets

In other news, CFO Henry Edward Dubois sold 7,938 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 value of $84,539.70. Following the transaction, the chief financial officer now owns 420,779 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian E. O’toole sold 7,020 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $10.65, for a total transaction of $74,763.00. Following the completion of the sale, the chief executive officer now directly owns 691,909 shares of the company’s stock, valued at approximately $7,368,830.85. The trade was a 1.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,086 shares of company stock worth $245,866. Company insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On BlackSky Technology

Institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC acquired a new position in BlackSky Technology during the fourth quarter valued at approximately $44,000. Corebridge Financial Inc. increased its holdings in BlackSky Technology by 73.0% in the 4th quarter. Corebridge Financial Inc. now owns 12,481 shares of the company’s stock worth $135,000 after purchasing an additional 5,266 shares in the last quarter. CIBC Private Wealth Group LLC bought a new position in BlackSky Technology during the 4th quarter worth $76,000. SBI Securities Co. Ltd. acquired a new stake in BlackSky Technology in the fourth quarter worth $84,000. Finally, LexAurum Advisors LLC acquired a new position in shares of BlackSky Technology during the fourth quarter valued at about $108,000. 27.15% of the stock is currently owned by institutional investors.

About BlackSky Technology

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.