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

BlackSky Technology Inc. (NYSE:BKSY) saw unusually large options trading on Wednesday. Investors acquired 10,024 put options on the stock. This is an increase of approximately 177% compared to the average volume of 3,618 put options.

BlackSky Technology Price Performance

BlackSky Technology stock opened at $19.95 on Friday. The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 2.08. BlackSky Technology has a 12 month low of $6.15 and a 12 month high of $33.20. The stock has a 50-day moving average price of $22.89 and a two-hundred day moving average price of $20.68. The company has a market capitalization of $718.00 million, a PE ratio of -6.35 and a beta of 2.43.

Hedge Funds Weigh In On BlackSky Technology

Large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC bought a new stake in BlackSky Technology during the first quarter worth $103,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of BlackSky Technology by 7.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,174 shares of the company’s stock worth $117,000 after purchasing an additional 1,015 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of BlackSky Technology by 343.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 557,729 shares of the company’s stock worth $4,311,000 after acquiring an additional 432,023 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of BlackSky Technology by 6,937.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,689 shares of the company’s stock worth $35,000 after purchasing an additional 1,665 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC bought a new position in BlackSky Technology during the second quarter valued at approximately $57,000. Institutional investors own 27.15% of the company’s stock.

Wall Street Analysts Forecast Growth

BKSY has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BlackSky Technology in a report 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $27.60.

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.