BlackSky Technology Inc. (NYSE:BKSY) Short Interest Up 41.1% in March

BlackSky Technology Inc. (NYSE:BKSY) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 3,470,000 shares, an increase of 41.1% from the February 28th total of 2,460,000 shares. Currently, 13.5% of the shares of the company are sold short. Based on an average trading volume of 1,610,000 shares, the short-interest ratio is presently 2.2 days.

Institutional Investors Weigh In On BlackSky Technology

A number of institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets increased its holdings in BlackSky Technology by 22.7% during the 4th quarter. BNP Paribas Financial Markets now owns 3,691 shares of the company’s stock valued at $40,000 after acquiring an additional 683 shares in the last quarter. Summit Investment Advisors Inc. increased its stake in shares of BlackSky Technology by 115.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,626 shares of the company’s stock worth $28,000 after purchasing an additional 1,406 shares in the last quarter. Bridgeway Capital Management LLC increased its stake in shares of BlackSky Technology by 2.9% during the 4th quarter. Bridgeway Capital Management LLC now owns 59,450 shares of the company’s stock worth $641,000 after purchasing an additional 1,700 shares in the last quarter. Farther Finance Advisors LLC acquired a new position in shares of BlackSky Technology during the 4th quarter worth approximately $44,000. Finally, Corebridge Financial Inc. lifted its stake in BlackSky Technology by 73.0% in the 4th quarter. Corebridge Financial Inc. now owns 12,481 shares of the company’s stock valued at $135,000 after buying an additional 5,266 shares in the last quarter. Institutional investors and hedge funds own 27.15% of the company’s stock.

BlackSky Technology Price Performance

BKSY traded down $0.17 on Monday, hitting $7.74. 1,061,116 shares of the company were exchanged, compared to its average volume of 748,443. BlackSky Technology has a fifty-two week low of $3.86 and a fifty-two week high of $21.92. The company has a debt-to-equity ratio of 0.89, a quick ratio of 5.68 and a current ratio of 5.68. The firm has a market capitalization of $244.96 million, a P/E ratio of -3.43 and a beta of 1.27. The business’s fifty day moving average is $13.16 and its 200 day moving average is $10.11.

Analyst Ratings Changes

Several research analysts recently issued reports on BKSY shares. Oppenheimer increased their price target on shares of BlackSky Technology from $10.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. HC Wainwright reissued a “buy” rating and issued a $20.00 price target on shares of BlackSky Technology in a report on Friday, March 7th. Finally, Benchmark reaffirmed a “buy” rating and set a $17.00 price objective on shares of BlackSky Technology in a report on Friday, March 7th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $21.80.

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.