Short Interest in BlackSky Technology Inc. (NYSE:BKSY) Drops By 7.4%

BlackSky Technology Inc. (NYSE:BKSY) saw a significant decline in short interest in 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 currently 2.3 days. Currently, 7.0% of the company’s shares are short sold.

Analysts Set New Price Targets

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

BlackSky Technology Stock Down 3.8 %

Shares of BlackSky Technology stock opened at $8.42 on Monday. BlackSky Technology has a twelve month low of $3.86 and a twelve month high of $14.16. The company has a market cap of $259.17 million, a price-to-earnings ratio of -3.73 and a beta of 0.92. The company has a quick ratio of 4.19, a current ratio of 5.68 and a debt-to-equity ratio of 0.89. The company’s 50 day moving average is $6.27 and its 200 day moving average is $7.88.

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

Insider Activity at BlackSky Technology

In related news, CFO Henry Edward Dubois sold 23,590 shares of the business’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 $169,612.10. Following the transaction, the chief financial officer now owns 231,645 shares in the company, valued at $1,665,527.55. The trade was a 9.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian E. O’toole sold 24,352 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $7.19, for a total transaction of $175,090.88. Following the sale, the chief executive officer now directly owns 479,785 shares in the company, valued at $3,449,654.15. The trade was a 4.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 62,362 shares of company stock worth $446,535 over the last 90 days. 4.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On BlackSky Technology

A number of hedge funds and other institutional investors have recently modified their holdings of BKSY. Virtu Financial LLC boosted its position in shares of 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 acquiring an additional 83,462 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of BlackSky Technology during the second quarter worth $295,000. LA Financiere DE L Echiquier boosted its position in shares of BlackSky Technology by 13.6% during the second quarter. LA Financiere DE L Echiquier now owns 933,000 shares of the company’s stock worth $998,000 after acquiring an additional 112,000 shares during the last quarter. Perkins Capital Management Inc. bought a new position in shares of BlackSky Technology during the third quarter worth $1,114,000. Finally, Thompson Siegel & Walmsley LLC bought a new position in BlackSky Technology during the third quarter valued at $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.