Blacksky Technology Stock Rallies After $100M Contract Win: Retail Stays Enthusiastic
Synopsis
Blacksky said the new seven-year deal secures annual capacity minimums for reliable high-resolution, low-latency current Gen-2 and upcoming Gen-3 imagery and AI-enabled analytics services through 2032.
Shares of Blacksky Technology Inc (BKSY) rallied over 9% on Tuesday after the company disclosed it won a $100 million-plus contract from a long-term strategic partner in the international defense sector for real-time, space-based monitoring capabilities.
BlackSky is a real-time, space-based intelligence company that delivers on-demand, high frequency imagery, analytics, and high-frequency monitoring of critical and strategic locations, economic assets, and events in the world.
Blacksky said the new seven-year deal secures annual capacity minimums for reliable high-resolution, low-latency current Gen-2 and upcoming Gen-3 imagery and AI-enabled analytics services through 2032.
CEO Brian O’Toole said that high-cadence monitoring has become a foundational piece for many of our customers’ daily intelligence operations. “This commitment now gives the customer priority, long-term access to capacity with the flexibility to accommodate novel Gen-3 features as end-user requirements evolve,” he said.
On Stocktwits, retail sentiment continued to trend in the ‘bullish’ territory (74/100) accompanied by ‘extremely high’ message volume.
Retail chatter on Stocktwits mainly indicated a positive take on the stock.
The firm recently announced that it has shipped its first Gen-3 satellite to launch provider Rocket Lab. The satellite is planned for launch in February from Rocket Lab Launch Complex 1 in Mahia, New Zealand.
Blacksky was also selected by the National Geospatial-Intelligence Agency as one of the vendors for the $200 million Luno B commercial data indefinite delivery, indefinite quantity contract.
Meanwhile, the firm's shares have gained over 32% this year and are up almost 34% over the past year.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
Stay updated with all the latest Business News, including market trends, Share Market News, stock updates, taxation, IPOs, banking, finance, real estate, savings, and investments. Track daily Gold Price changes, updates on DA Hike, and the latest developments on the 8th Pay Commission. Get in-depth analysis, expert opinions, and real-time updates to make informed financial decisions. Download the Asianet News Official App from the Android Play Store and iPhone App Store to stay ahead in business.