The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. BlackSky Technology Inc. shares valued at $32,400 were purchased by BROEKHUYSEN JOHAN G on Feb 25. At $2.70 per share, BROEKHUYSEN JOHAN G acquired 12,000 shares. The insider’s holdings grew to 451,146 shares worth approximately $1.18 million following the completion of this transaction.
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As published in their initiating research note from Lake Street on July 26, 2022, BlackSky Technology Inc. [BKSY] has been a Buy and the price target has been revised to $6. This represents a 56.5% premium over Thursday’s closing price.
Analyzing BKSY’s Price Performance
On Thursday, BlackSky Technology Inc. [NYSE: BKSY] plunged -1.88% to $2.61. The stock’s lowest price that day was $2.57, but it reached a high of $2.714 in the same session. During the last five days, there has been a surge of approximately 13.97%. Over the course of the year, BlackSky Technology Inc. shares have dropped approximately -41.87%. Shares of the company reached a 52-week high of $5.01 on 01/04/22 and a 52-week low of $1.00 on 05/12/22. A 50-day SMA is recorded $2.33, while a 200-day SMA reached $3.84. Nevertheless, trading volume fell to 1.5 million shares from 2.39 million shares the previous day.
Support And Resistance Levels for BlackSky Technology Inc. (BKSY)
According to the 24-hour chart, there is a support level at 2.55, which, if violated, would cause prices to drop to 2.49. In the upper region, resistance lies at 2.69. The next price resistance is at 2.78. RSI (Relative Strength Index) is 61.55 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.27, which suggests the price will decrease in the coming days. Percent R is at 26.03%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is BlackSky Technology Inc. subject to short interest?
Stocks of BlackSky Technology Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.4 million shares to 3.14 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 2.74 million shares. A jump of 12.74% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 0.67 of the overall float, the days-to-cover ratio (short ratio) jumped to 0.67.
Which companies own the most shares of BlackSky Technology Inc. (BKSY)?
According to JANA Partners LLC filings, the company currently owns 2,843,500 shares, which is about 2.36% of the total BKSY shares outstanding. The investor’s shares have plunged by 0 from its previous 13-F filing of 2843500.0 shares. With the completion of the buy transaction, The Bank of New York Mellon Corp’s stake is now worth $3,551,868. A total of -30,546 shares of BlackSky Technology Inc. were sold by Samlyn Capital LLC during the quarter, and 1,063,458 by Alaska Permanent Capital Manageme. In its current portfolio, Two Sigma Investments LP holds 812,403 shares valued at $1.88 million.
In terms of BlackSky Technology Inc. share price expectations, FactSet research, analysts set an average price target of $6.00 in the next 12 months, up nearly 125.56% from the previous closing price of $2.66. Analysts anticipate BlackSky Technology Inc. stock to reach $6.00 by 2022, with the lowest price target being $6.00. In spite of this, 2 analysts ranked BlackSky Technology Inc. stock as a Buy at the end of 2022.