Short Interest in BlackSky Technology Inc. (NYSE:BKSY) Drops By 13.7%

BlackSky Technology Inc. (NYSE:BKSY) saw a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 2,010,000 shares, a drop of 13.7% from the January 15th total of 2,330,000 shares. Currently, 8.4% of the company’s shares are sold short. Based on an average daily volume of 1,320,000 shares, the days-to-cover ratio is currently 1.5 days.

Insiders Place Their Bets

In other news, CFO Henry Edward Dubois sold 7,938 shares of BlackSky Technology stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $10.65, for a total value of $84,539.70. Following the transaction, the chief financial officer now directly owns 420,779 shares in the company, valued at approximately $4,481,296.35. This trade represents a 1.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Christiana L. Lin sold 5,550 shares of BlackSky Technology stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $10.65, for a total value of $59,107.50. Following the completion of the transaction, the chief accounting officer now owns 354,143 shares in the company, valued at $3,771,622.95. This represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,086 shares of company stock worth $245,866 in the last ninety days. 4.50% of the stock is owned by company insiders.

Institutional Trading of BlackSky Technology

Large investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. grew its position in BlackSky Technology by 115.2% during the 4th quarter. Ameritas Investment Partners Inc. now owns 2,626 shares of the company’s stock worth $28,000 after purchasing an additional 1,406 shares during the last quarter. Farther Finance Advisors LLC purchased a new stake in BlackSky Technology during the 4th quarter worth approximately $44,000. CIBC Private Wealth Group LLC purchased a new stake in BlackSky Technology during the 4th quarter worth approximately $76,000. SBI Securities Co. Ltd. purchased a new stake in BlackSky Technology during the 4th quarter worth approximately $84,000. Finally, LexAurum Advisors LLC purchased a new stake in BlackSky Technology during the 4th quarter worth approximately $108,000. Hedge funds and other institutional investors own 27.15% of the company’s stock.

Analysts Set New Price Targets

Separately, HC Wainwright lifted their price target on BlackSky Technology from $12.00 to $20.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $19.20.

BlackSky Technology Price Performance

NYSE:BKSY traded down $0.93 during trading hours on Friday, hitting $16.83. 1,038,543 shares of the company were exchanged, compared to its average volume of 1,829,981. BlackSky Technology has a 52-week low of $3.86 and a 52-week high of $18.33. The company has a quick ratio of 5.68, a current ratio of 5.68 and a debt-to-equity ratio of 0.89. The company’s 50 day moving average price is $12.51 and its 200-day moving average price is $9.38.

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.