Why BlackSky Technology Stock Popped Today
Don't believe the hype: BlackSky's big new NGA contract won't turn this stock profitable... yet.
Shares of BlackSky Technology (NYSE: BKSY), one of the leading providers of digital satellite photos of Earth from space, rocketed 18.9% through 12:35 p.m. ET Thursday on a couple of positive developments.
On Tuesday, BlackSky announced the National Geospatial-Intelligence Agency (NGA) awarded the company a $24 million, four-year contract to perform global monitoring of military and economic facilities.
Two days later -- today -- Canaccord Genuity analyst Austin Moeller responded by raising his price target on BlackSky stock from $14 to $20 per share.
