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

BlackSky Technology Inc. (NYSE:BKSY) was the recipient of some unusual options trading on Wednesday. Stock traders acquired 10,024 put options on the stock. This is an increase of 177% compared to the average daily volume of 3,618 put options.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on BKSY shares. Weiss Ratings restated a “sell (d-)” rating on shares of BlackSky Technology in a research report on Wednesday, January 21st. Jefferies Financial Group initiated coverage on shares of BlackSky Technology in a research note on Monday, December 22nd. They issued a “buy” rating and a $23.00 price objective on the stock. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.60.

Hedge Funds Weigh In On BlackSky Technology

Several institutional investors have recently added to or reduced their stakes in the business. Strive Financial Group LLC purchased a new position in BlackSky Technology during the fourth quarter worth about $26,000. XTX Topco Ltd acquired a new position in shares of BlackSky Technology during the 4th quarter valued at about $527,000. Tudor Investment Corp ET AL lifted its holdings in shares of BlackSky Technology by 56.2% during the 4th quarter. Tudor Investment Corp ET AL now owns 109,744 shares of the company’s stock worth $2,058,000 after acquiring an additional 39,479 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of BlackSky Technology in the fourth quarter worth approximately $231,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in BlackSky Technology in the fourth quarter valued at approximately $238,000. 27.15% of the stock is currently owned by institutional investors and hedge funds.

BlackSky Technology Trading Up 8.0%

Shares of BKSY traded up $1.57 on Wednesday, hitting $21.28. 405,366 shares of the stock traded hands, compared to its average volume of 1,468,777. BlackSky Technology has a 1 year low of $6.15 and a 1 year high of $33.20. The stock’s 50 day moving average is $22.77 and its two-hundred day moving average is $20.69. The firm has a market capitalization of $765.82 million, a P/E ratio of -6.78 and a beta of 2.43. The company has a quick ratio of 3.89, a current ratio of 3.89 and a debt-to-equity ratio of 2.08.

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.