BlackSky Technology Inc. (NYSE:BKSY) Sees Large Decline in Short Interest

BlackSky Technology Inc. (NYSE:BKSY) saw a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 1,480,000 shares, a decline of 8.6% from the October 31st total of 1,620,000 shares. Currently, 6.2% of the shares of the company are sold short. Based on an average daily volume of 915,500 shares, the days-to-cover ratio is currently 1.6 days.

Insider Buying and Selling

In other BlackSky Technology news, CAO Christiana L. Lin sold 13,031 shares of the business’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 $93,692.89. Following the sale, the chief accounting officer now owns 190,775 shares of the company’s stock, valued at $1,371,672.25. The trade was a 6.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Henry Edward Dubois sold 23,590 shares of the business’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 transaction, the chief financial officer now owns 231,645 shares of the company’s stock, valued at $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. In the last quarter, insiders have sold 62,362 shares of company stock valued at $446,535. 4.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On BlackSky Technology

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in BlackSky Technology by 17.8% in the first quarter. Vanguard Group Inc. now owns 5,291,909 shares of the company’s stock worth $7,197,000 after buying an additional 800,287 shares in the last quarter. LA Financiere DE L Echiquier raised its stake in BlackSky Technology by 13.6% in the second quarter. LA Financiere DE L Echiquier now owns 933,000 shares of the company’s stock worth $998,000 after buying an additional 112,000 shares in the last quarter. Thompson Siegel & Walmsley LLC purchased a new stake in BlackSky Technology in the third quarter worth about $3,674,000. Squarepoint Ops LLC purchased a new stake in BlackSky Technology in the second quarter worth about $295,000. Finally, Perkins Capital Management Inc. purchased a new stake in BlackSky Technology in the third quarter worth about $1,114,000. 27.15% of the stock is owned by institutional investors.

BlackSky Technology Price Performance

NYSE:BKSY traded up $0.44 during midday trading on Wednesday, hitting $11.05. The company had a trading volume of 440,606 shares, compared to its average volume of 324,338. BlackSky Technology has a 52-week low of $3.86 and a 52-week high of $14.16. The stock’s fifty day moving average price is $7.38 and its 200-day moving average price is $7.94. The company has a market capitalization of $340.12 million, a PE ratio of -4.69 and a beta of 1.15. The company has a quick ratio of 5.68, a current ratio of 5.68 and a debt-to-equity ratio of 0.89.

BlackSky Technology (NYSE:BKSY) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($0.05). The business had revenue of $22.55 million during the quarter, compared to the consensus estimate 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 period in the prior year, the firm earned ($0.96) earnings per share. As a group, research analysts expect that BlackSky Technology will post -2.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Craig Hallum upgraded shares of BlackSky Technology from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research report on Friday, October 4th. Lake Street Capital boosted their price target 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. HC Wainwright reduced their price target on shares of BlackSky Technology from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Finally, Oppenheimer assumed coverage on shares of BlackSky Technology in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $10.00 price target for the company. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $17.60.

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.