Why BlackSky Technology Shares Are Soaring Today

BlackSky Technology Inc BKSY shares are trading higher Wednesday after the company was awarded a 10-year electro optical commercial layer contract with the U.S. government.

BlackSky received the contract from the National Reconnaissance Office, which includes a comprehensive set of imagery services from current and future satellite capabilities. 

The award will commence in the second quarter and is set to include multiple options with additional growth potential for BlackSky through 2032. The contract has a five-year base and five one-year options for additional services.

BlackSky delivers on-demand, high frequency imagery, monitoring and analytics of locations, economic assets and events on Earth.

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BKSY Price Action: BlackSky shares have traded between $1 and $13.20 over a 52-week period.

The stock was up 85.5% at $2.19 at press time, according to data from Benzinga Pro.

Photo: WikiImages from Pixabay.