BlackSky Technology Inc. (NYSE:BKSY) Short Interest Update

BlackSky Technology Inc. (NYSE:BKSY) was the recipient of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 1,620,000 shares, a decline of 7.4% from the October 15th total of 1,750,000 shares. Based on an average daily trading volume, of 714,800 shares, the days-to-cover ratio is presently 2.3 days. Approximately 7.0% of the shares of the stock are short sold.

Analysts Set New Price Targets

Several analysts have issued reports on BKSY shares. HC Wainwright cut their target price on shares of BlackSky Technology from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Oppenheimer assumed coverage on BlackSky Technology in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $10.00 price target on the stock. Lake Street Capital raised their price objective on BlackSky Technology from $4.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, Craig Hallum upgraded BlackSky Technology from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a report on Friday, October 4th. Five analysts have rated the stock with a buy rating, According to MarketBeat, BlackSky Technology currently has an average rating of “Buy” and a consensus price target of $17.60.

BlackSky Technology Stock Performance

Shares of NYSE BKSY opened at $9.58 on Wednesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.68 and a quick ratio of 5.68. BlackSky Technology has a one year low of $3.86 and a one year high of $14.16. The business’s 50-day moving average price is $6.31 and its two-hundred day moving average price is $7.86. The company has a market capitalization of $294.86 million, a P/E ratio of -4.24 and a beta of 0.92.

BlackSky Technology (NYSE:BKSY) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.05). The firm had revenue of $22.55 million during the quarter, compared to analyst estimates of $26.93 million. BlackSky Technology had a negative return on equity of 49.91% and a negative net margin of 38.83%. During the same quarter in the prior year, the company posted ($0.96) EPS. Analysts anticipate that BlackSky Technology will post -2.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BlackSky Technology news, CAO Christiana L. Lin sold 13,031 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $7.19, for a total transaction of $93,692.89. Following the completion of the sale, the chief accounting officer now directly owns 190,775 shares of the company’s stock, valued at approximately $1,371,672.25. This represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Henry Edward Dubois sold 23,590 shares of BlackSky Technology stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $7.19, for a total transaction of $169,612.10. Following the completion of the transaction, the chief financial officer now directly owns 231,645 shares in the company, valued at approximately $1,665,527.55. This trade represents a 9.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 62,362 shares of company stock worth $446,535. 4.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BKSY. Virtu Financial LLC increased its position in BlackSky Technology by 134.5% during the first quarter. Virtu Financial LLC now owns 145,514 shares of the company’s stock worth $198,000 after buying an additional 83,462 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of BlackSky Technology during the 2nd quarter valued at about $295,000. LA Financiere DE L Echiquier raised its stake in shares of BlackSky Technology by 13.6% in the 2nd quarter. LA Financiere DE L Echiquier now owns 933,000 shares of the company’s stock valued at $998,000 after acquiring an additional 112,000 shares in the last quarter. Perkins Capital Management Inc. acquired a new stake in BlackSky Technology in the 3rd quarter worth approximately $1,114,000. Finally, Thompson Siegel & Walmsley LLC bought a new stake in BlackSky Technology during the third quarter worth approximately $3,674,000. Institutional investors own 27.15% of the company’s stock.

BlackSky Technology Company 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.