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

BlackSky Technology Inc. (NYSE:BKSY - Get Free Report) was the recipient of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 1,750,000 shares, a growth of 49.6% from the September 30th total of 1,170,000 shares. Currently, 7.5% of the shares of the company are sold short. Based on an average daily volume of 507,100 shares, the short-interest ratio is currently 3.5 days.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BKSY. Craig Hallum upgraded shares of BlackSky Technology from a "hold" rating to a "buy" rating and set a $10.00 price target on the stock in a report on Friday, October 4th. Lake Street Capital lifted their price target on shares of BlackSky Technology from $4.00 to $32.00 and gave the company a "buy" rating in a 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 on the stock in a report on Wednesday, October 16th. Finally, Oppenheimer began coverage on shares of BlackSky Technology in a report on Wednesday, October 2nd. They issued an "outperform" rating and a $10.00 price target on the stock. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, BlackSky Technology currently has an average rating of "Buy" and an average target price of $17.60.

Insider Activity

In other news, CFO Henry Edward Dubois sold 23,590 shares of the business's stock in a transaction that occurred 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 completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other BlackSky Technology news, CAO Christiana L. Lin sold 13,031 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 190,775 shares of the company's stock, valued at approximately $1,371,672.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Henry Edward Dubois sold 23,590 shares of the company's stock in a transaction that occurred 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 directly owns 231,645 shares of the company's stock, valued at approximately $1,665,527.55. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,362 shares of company stock valued at $446,535 over the last three months. Insiders own 4.50% of the company's stock.

Hedge Funds Weigh In On BlackSky Technology

A number of large investors have recently made changes to their positions in BKSY. GSA Capital Partners LLP boosted its stake in shares of BlackSky Technology by 123.8% during the 1st quarter. GSA Capital Partners LLP now owns 315,900 shares of the company's stock worth $430,000 after purchasing an additional 174,773 shares during the period. Vanguard Group Inc. lifted its holdings in BlackSky Technology by 17.8% during the 1st quarter. Vanguard Group Inc. now owns 5,291,909 shares of the company's stock valued at $7,197,000 after buying an additional 800,287 shares in the last quarter. Virtu Financial LLC lifted its holdings in BlackSky Technology by 134.5% during the 1st quarter. Virtu Financial LLC now owns 145,514 shares of the company's stock valued at $198,000 after buying an additional 83,462 shares in the last quarter. LA Financiere DE L Echiquier lifted its holdings in BlackSky Technology by 13.6% during the 2nd quarter. LA Financiere DE L Echiquier now owns 933,000 shares of the company's stock valued at $998,000 after buying an additional 112,000 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in BlackSky Technology during the 2nd quarter valued at about $295,000. 27.15% of the stock is owned by hedge funds and other institutional investors.

BlackSky Technology Price Performance

Shares of NYSE:BKSY traded up $0.25 on Tuesday, reaching $7.14. The company's stock had a trading volume of 1,905,723 shares, compared to its average volume of 230,469. BlackSky Technology has a 52-week low of $3.86 and a 52-week high of $14.16. The company has a market cap of $132.88 million, a P/E ratio of -4.31 and a beta of 0.97. The company has a 50-day simple moving average of $6.72 and a 200 day simple moving average of $8.11. The company has a debt-to-equity ratio of 1.41, a quick ratio of 4.19 and a current ratio of 4.19.

BlackSky Technology (NYSE:BKSY - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.48) EPS for the quarter, topping analysts' consensus estimates of ($0.72) by $0.24. BlackSky Technology had a negative net margin of 26.78% and a negative return on equity of 56.91%. The business had revenue of $24.94 million during the quarter, compared to analysts' expectations of $25.14 million. During the same period last year, the company posted ($1.92) EPS. As a group, equities research analysts anticipate that BlackSky Technology will post -2.33 EPS for the current fiscal 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.