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

BlackSky Technology Inc. (NYSE:BKSY) was the target of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 1,620,000 shares, a decrease of 7.4% from the October 15th total of 1,750,000 shares. Based on an average daily volume of 714,800 shares, the short-interest ratio is currently 2.3 days. Approximately 7.0% of the company’s shares are sold short.

Analyst Ratings Changes

BKSY has been the topic of a number of research analyst reports. Oppenheimer initiated coverage on shares of BlackSky Technology in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $10.00 price objective on the stock. Craig Hallum raised shares of BlackSky Technology from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research report on Friday, October 4th. Lake Street Capital increased their price objective on shares of BlackSky Technology from $4.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, HC Wainwright cut 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. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $17.60.

Insider Activity at BlackSky Technology

In other BlackSky Technology news, CFO Henry Edward Dubois sold 23,590 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $7.19, for a total transaction of $169,612.10. Following the sale, the chief financial officer now owns 231,645 shares of the company’s stock, valued at approximately $1,665,527.55. This represents a 9.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Brian E. O’toole sold 24,352 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were 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. This trade represents a 4.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,362 shares of company stock worth $446,535 over the last three months. Company insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in BlackSky Technology by 17.8% in the 1st quarter. Vanguard Group Inc. now owns 5,291,909 shares of the company’s stock valued at $7,197,000 after purchasing an additional 800,287 shares during the period. Virtu Financial LLC raised its position in BlackSky Technology by 134.5% in the 1st quarter. Virtu Financial LLC now owns 145,514 shares of the company’s stock worth $198,000 after purchasing an additional 83,462 shares during the period. LA Financiere DE L Echiquier raised its position in BlackSky Technology by 13.6% in the 2nd quarter. LA Financiere DE L Echiquier now owns 933,000 shares of the company’s stock worth $998,000 after purchasing an additional 112,000 shares during the period. Squarepoint Ops LLC purchased a new position in BlackSky Technology in the 2nd quarter worth $295,000. Finally, Perkins Capital Management Inc. purchased a new position in BlackSky Technology in the 3rd quarter worth $1,114,000. 27.15% of the stock is currently owned by hedge funds and other institutional investors.

BlackSky Technology Trading Down 3.8 %

NYSE:BKSY opened at $8.42 on Monday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 4.19 and a current ratio of 5.68. The firm has a market cap of $259.17 million, a price-to-earnings ratio of -3.73 and a beta of 0.92. BlackSky Technology has a 52 week low of $3.86 and a 52 week high of $14.16. The firm has a 50-day moving average price of $6.27 and a two-hundred day moving average price of $7.88.

BlackSky Technology (NYSE:BKSY) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.05). BlackSky Technology had a negative return on equity of 49.91% and a negative net margin of 38.83%. The company had revenue of $22.55 million for the quarter, compared to analysts’ expectations of $26.93 million. During the same quarter in the previous year, the business earned ($0.96) EPS. On average, equities analysts expect that BlackSky Technology will post -2.28 earnings per share for the current fiscal year.

About BlackSky Technology

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.