Short Interest in BlackSky Technology Inc. (NYSE:BKSY) Rises By 49.6%

BlackSky Technology Inc. (NYSE:BKSY) saw a significant increase in short interest in October. As of October 15th, there was short interest totalling 1,750,000 shares, an increase of 49.6% from the September 30th total of 1,170,000 shares. Based on an average daily volume of 507,100 shares, the days-to-cover ratio is currently 3.5 days. Currently, 7.5% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BKSY shares. 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 note on Friday, October 4th. HC Wainwright dropped their price target 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. Lake Street Capital raised 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. Finally, Oppenheimer began coverage on BlackSky Technology in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $10.00 target price on the stock. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $17.60.

Insiders Place Their Bets

In related news, CEO Brian E. O’toole sold 24,352 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $7.19, for a total value of $175,090.88. Following the transaction, the chief executive officer now directly owns 479,785 shares of the company’s stock, valued at $3,449,654.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Brian E. O’toole sold 24,352 shares of the firm’s 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 $175,090.88. Following the transaction, the chief executive officer now owns 479,785 shares in the company, valued at $3,449,654.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Henry Edward Dubois sold 23,590 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $7.19, for a total value of $169,612.10. Following the completion of the sale, the chief financial officer now directly owns 231,645 shares of the company’s stock, valued at $1,665,527.55. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,362 shares of company stock valued at $446,535. 4.50% of the stock is owned by corporate insiders.

Institutional Trading of BlackSky Technology

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake 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 acquiring an additional 800,287 shares during the last quarter. LA Financiere DE L Echiquier raised its position in shares of BlackSky Technology by 13.6% during 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 last quarter. GSA Capital Partners LLP lifted its stake in BlackSky Technology by 123.8% in the 1st quarter. GSA Capital Partners LLP now owns 315,900 shares of the company’s stock valued at $430,000 after buying an additional 174,773 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in BlackSky Technology during the 2nd quarter valued at $295,000. Finally, 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 in the last quarter. Institutional investors and hedge funds own 27.15% of the company’s stock.

BlackSky Technology Price Performance

Shares of NYSE BKSY traded up $0.29 during midday trading on Tuesday, hitting $7.18. The company had a trading volume of 716,600 shares, compared to its average volume of 224,766. The firm has a market capitalization of $133.62 million, a price-to-earnings ratio of -4.31 and a beta of 0.97. BlackSky Technology has a twelve month low of $3.86 and a twelve month high of $14.16. The business has a 50-day simple moving average of $6.72 and a two-hundred day simple moving average of $8.11. The company has a quick ratio of 4.19, a current ratio of 4.19 and a debt-to-equity ratio of 1.41.

BlackSky Technology (NYSE:BKSY) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.24. The company had revenue of $24.94 million during the quarter, compared to the consensus estimate of $25.14 million. BlackSky Technology had a negative net margin of 26.78% and a negative return on equity of 56.91%. During the same period last year, the firm earned ($1.92) EPS. Equities research analysts anticipate that BlackSky Technology will post -2.33 earnings per share for the current year.

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.