Geode Capital Management LLC Raises Position in BlackSky Technology Inc. (NYSE:BKSY)

Geode Capital Management LLC increased its stake in shares of BlackSky Technology Inc. (NYSE:BKSY - Free Report) by 94.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 551,444 shares of the company's stock after purchasing an additional 267,427 shares during the period. Geode Capital Management LLC owned approximately 1.79% of BlackSky Technology worth $5,951,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in BKSY. Farther Finance Advisors LLC acquired a new position in shares of BlackSky Technology in the fourth quarter valued at approximately $44,000. Corebridge Financial Inc. grew its stake in shares of BlackSky Technology by 73.0% in the fourth quarter. Corebridge Financial Inc. now owns 12,481 shares of the company's stock worth $135,000 after acquiring an additional 5,266 shares in the last quarter. CIBC Private Wealth Group LLC acquired a new position in shares of BlackSky Technology in the fourth quarter worth $76,000. SBI Securities Co. Ltd. purchased a new stake in shares of BlackSky Technology during the fourth quarter worth $84,000. Finally, LexAurum Advisors LLC acquired a new stake in shares of BlackSky Technology in the fourth quarter valued at $108,000. Institutional investors and hedge funds own 27.15% of the company's stock.

BlackSky Technology Stock Performance

BKSY traded up $0.30 during trading on Thursday, hitting $8.66. 80,661 shares of the stock were exchanged, compared to its average volume of 805,907. The company has a quick ratio of 5.68, a current ratio of 5.68 and a debt-to-equity ratio of 0.89. BlackSky Technology Inc. has a 1-year low of $3.86 and a 1-year high of $21.92. The stock has a fifty day moving average price of $9.09 and a two-hundred day moving average price of $10.37. The firm has a market capitalization of $273.95 million, a P/E ratio of -3.82 and a beta of 1.61.

Wall Street Analysts Forecast Growth

BKSY has been the topic of a number of analyst reports. Canaccord Genuity Group assumed coverage on BlackSky Technology in a research report on Thursday, April 10th. They issued a "buy" rating and a $12.00 price target on the stock. HC Wainwright reiterated a "buy" rating and set a $20.00 price target on shares of BlackSky Technology in a report on Friday, March 7th. Oppenheimer raised their price objective on shares of BlackSky Technology from $10.00 to $30.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Finally, Benchmark reiterated a "buy" rating and set a $17.00 target price on shares of BlackSky Technology in a research note on Friday, March 7th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $20.17.

BlackSky Technology 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.