5:43 PM · 26 September 2024

BlackSky Technology gains contract from navy and surges more than 14%

Blacksky
Stocks
BKSY.US, Blacksky Technology Inc - class A
-
-

BlackSky Technology (BKSY.US) is up more than 14% in today's session following news that it has been awarded a new contract by the US Navy. The contract is related to the Overmatch research project, in which the Army intends to improve communications between key military infrastructure. 

BlackSky will be responsible for the development and delivery of advanced inter-satellite optical devices connecting military terminals to Gen-3 satellites, in order to provide the military with real-time images of the battlefield. 

The development of this product could allow the company to expand its portfolio in civilian projects as well, through the creation of prototypes and concepts that improve logistics solutions in the supply chain. 

Today's news of the new contract helped reduce the declines we've seen in the stock price this week, after BlackSky announced the issuance of 10 million new shares at $4/share. The decision to dilute the capital was received negatively by investors, and the stock price fell 21% from $5, to around $4.02. Even taking into consideration today's gain of over 14%, the price is still lower than its levels at the beginning of the week. 

 


 
14 October 2025, 11:16 AM

Ericsson surprises with results. Shares rise following new Vodafone deal

14 October 2025, 10:12 AM

Michelin cuts its 2025 forecasts, shares plunge!

14 October 2025, 9:23 AM

EasyJet volatility spikes after takeover rumors 💡

13 October 2025, 5:05 PM

Goldman Sachs boosts sentiment on Estée Lauder shares 💡

Join over 1 700 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits