BlackSky Technology Sees Unusually Large Options Volume (NYSE:BKSY)

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

Institutional Trading of BlackSky Technology

A number of hedge funds have recently made changes to their positions in BKSY. Geode Capital Management LLC raised its stake in BlackSky Technology by 7.3% in the 2nd quarter. Geode Capital Management LLC now owns 612,919 shares of the company’s stock valued at $12,616,000 after acquiring an additional 41,922 shares during the period. Prescott Group Capital Management L.L.C. acquired a new position in shares of BlackSky Technology in the second quarter valued at $1,049,000. Jump Financial LLC raised its position in shares of BlackSky Technology by 128.2% in the second quarter. Jump Financial LLC now owns 480,048 shares of the company’s stock valued at $9,879,000 after purchasing an additional 269,700 shares during the period. LBP AM SA lifted its stake in shares of BlackSky Technology by 220.8% during the 3rd quarter. LBP AM SA now owns 362,174 shares of the company’s stock worth $7,298,000 after buying an additional 249,269 shares during the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in shares of BlackSky Technology during the 3rd quarter worth about $1,310,000. 27.15% of the stock is owned by institutional investors and hedge funds.

BlackSky Technology Stock Up 2.5%

Shares of BKSY stock opened at $20.20 on Thursday. BlackSky Technology has a 52-week low of $6.15 and a 52-week high of $33.20. The stock has a market cap of $727.11 million, a price-to-earnings ratio of -6.43 and a beta of 2.43. The firm’s 50-day moving average is $22.84 and its 200-day moving average is $20.68. The company has a debt-to-equity ratio of 2.08, a quick ratio of 3.89 and a current ratio of 3.89.

Analysts Set New Price Targets

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

About BlackSky Technology

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.