Traders Buy Large Volume of Put Options on BlackSky Technology (NYSE:BKSY)

BlackSky Technology Inc. (NYSE:BKSY) was the recipient of some unusual options trading activity on Thursday. Stock traders bought 3,148 put options on the stock. This is an increase of approximately 46% compared to the typical daily volume of 2,154 put options.

BlackSky Technology Trading Up 1.5 %

NYSE BKSY opened at $11.62 on Friday. BlackSky Technology has a one year low of $3.86 and a one year high of $21.92. The firm has a 50 day simple moving average of $8.44 and a 200-day simple moving average of $10.53. The firm has a market cap of $367.80 million, a price-to-earnings ratio of -5.14 and a beta of 1.74. The company has a debt-to-equity ratio of 0.89, a quick ratio of 5.68 and a current ratio of 5.68.

BlackSky Technology (NYSE:BKSY) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.05. BlackSky Technology had a negative net margin of 38.83% and a negative return on equity of 49.91%. Equities research analysts anticipate that BlackSky Technology will post -2.28 EPS for the current fiscal year.

Institutional Investors Weigh In On BlackSky Technology

A number of hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its position in shares of BlackSky Technology by 6.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 201,832 shares of the company’s stock worth $1,560,000 after buying an additional 12,675 shares in the last quarter. XTX Topco Ltd increased its position in shares of BlackSky Technology by 58.3% in the 1st quarter. XTX Topco Ltd now owns 21,977 shares of the company’s stock valued at $170,000 after purchasing an additional 8,094 shares during the last quarter. 1492 Capital Management LLC purchased a new stake in shares of BlackSky Technology in the 1st quarter valued at approximately $725,000. New York State Common Retirement Fund raised its holdings in shares of BlackSky Technology by 217.0% in the 1st quarter. New York State Common Retirement Fund now owns 8,765 shares of the company’s stock valued at $68,000 after purchasing an additional 6,000 shares in the last quarter. Finally, LBP AM SA lifted its position in shares of BlackSky Technology by 22.3% during the 1st quarter. LBP AM SA now owns 37,881 shares of the company’s stock worth $293,000 after purchasing an additional 6,907 shares during the last quarter. Institutional investors and hedge funds own 27.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BKSY. HC Wainwright reiterated a “buy” rating and issued a $20.00 price objective on shares of BlackSky Technology in a research report on Friday, March 7th. Oppenheimer increased their price target on BlackSky Technology from $10.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Benchmark restated a “buy” rating and issued a $17.00 price objective on shares of BlackSky Technology in a report on Friday, March 7th. Finally, Canaccord Genuity Group began coverage on shares of BlackSky Technology in a research report on Thursday, April 10th. They issued a “buy” rating and a $12.00 target price on the stock. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, BlackSky Technology presently has an average rating of “Buy” and an average target price of $20.17.

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.