Short Interest in BlackSky Technology Inc. (NYSE:BKSY) Expands By 41.1%

BlackSky Technology Inc. (NYSE:BKSY) saw a large growth in short interest in March. As of March 15th, there was short interest totalling 3,470,000 shares, a growth of 41.1% from the February 28th total of 2,460,000 shares. Based on an average daily trading volume, of 1,610,000 shares, the short-interest ratio is presently 2.2 days. Currently, 13.5% of the company’s stock are sold short.

BlackSky Technology Stock Performance

Shares of BKSY stock traded down $0.70 during mid-day trading on Friday, reaching $7.88. The stock had a trading volume of 1,778,222 shares, compared to its average volume of 747,191. The company has a current ratio of 5.68, a quick ratio of 5.68 and a debt-to-equity ratio of 0.89. BlackSky Technology has a 1-year low of $3.86 and a 1-year high of $21.92. The firm has a market cap of $249.35 million, a price-to-earnings ratio of -3.49 and a beta of 1.27. The business’s fifty day moving average is $13.16 and its 200-day moving average is $10.08.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BKSY. Benchmark restated a “buy” rating and set a $17.00 price target on shares of BlackSky Technology in a research note on Friday, March 7th. Oppenheimer boosted their target price on shares of BlackSky Technology from $10.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price target on shares of BlackSky Technology in a report on Friday, March 7th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, BlackSky Technology has an average rating of “Buy” and a consensus price target of $21.80.

Hedge Funds Weigh In On BlackSky Technology

Hedge funds and other institutional investors have recently bought and sold shares of the business. Summit Investment Advisors Inc. lifted its stake in BlackSky Technology by 115.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,626 shares of the company’s stock valued at $28,000 after acquiring an additional 1,406 shares during the period. BNP Paribas Financial Markets lifted its holdings in BlackSky Technology by 22.7% in the fourth quarter. BNP Paribas Financial Markets now owns 3,691 shares of the company’s stock valued at $40,000 after acquiring an additional 683 shares during the period. Farther Finance Advisors LLC purchased a new stake in BlackSky Technology in the 4th quarter worth approximately $44,000. CIBC Private Wealth Group LLC acquired a new stake in shares of BlackSky Technology during the 4th quarter worth approximately $76,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of BlackSky Technology during the 4th quarter valued at approximately $84,000. Institutional investors and hedge funds 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.