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

BlackSky Technology Inc. (NYSE:BKSY - Get Free Report) was the recipient of a significant decrease in short interest in January. As of January 31st, there was short interest totalling 2,010,000 shares, a decrease of 13.7% from the January 15th total of 2,330,000 shares. Based on an average trading volume of 1,320,000 shares, the short-interest ratio is currently 1.5 days. Approximately 8.4% of the shares of the company are short sold.

Insiders Place Their Bets

In other BlackSky Technology news, CEO Brian E. O'toole sold 7,020 shares of the firm's stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $10.65, for a total value of $74,763.00. Following the completion of the transaction, the chief executive officer now directly owns 691,909 shares of the company's stock, valued at $7,368,830.85. This trade represents a 1.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Henry Edward Dubois sold 7,938 shares of the company's stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $10.65, for a total transaction of $84,539.70. Following the completion of the transaction, the chief financial officer now directly owns 420,779 shares in the company, valued at approximately $4,481,296.35. The trade was a 1.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,086 shares of company stock worth $245,866 over the last 90 days. Corporate insiders own 4.50% of the company's stock.

Institutional Trading of BlackSky Technology

Several institutional investors have recently added to or reduced their stakes in the business. Summit Investment Advisors Inc. boosted its position in shares of BlackSky Technology by 115.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,626 shares of the company's stock valued at $28,000 after buying an additional 1,406 shares during the last quarter. BNP Paribas Financial Markets lifted its stake 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 during the period. Farther Finance Advisors LLC purchased a new stake in shares of BlackSky Technology during the 4th quarter valued at about $44,000. CIBC Private Wealth Group LLC bought a new stake in shares of BlackSky Technology in the fourth quarter worth approximately $76,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of BlackSky Technology during the fourth quarter valued at approximately $84,000. 27.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BKSY has been the subject of several recent analyst reports. Oppenheimer boosted their price objective on BlackSky Technology from $10.00 to $30.00 and gave the stock an "outperform" rating in a report on Wednesday. HC Wainwright lifted their target price on shares of BlackSky Technology from $12.00 to $20.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $23.20.

BlackSky Technology Stock Down 8.2 %

BKSY stock traded down $1.63 during trading on Thursday, hitting $18.33. 2,288,943 shares of the stock traded hands, compared to its average volume of 1,786,585. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.68 and a quick ratio of 5.68. The stock has a market cap of $564.17 million, a price-to-earnings ratio of -8.11 and a beta of 1.20. BlackSky Technology has a 1 year low of $3.86 and a 1 year high of $21.92. The firm's 50 day moving average is $12.97 and its two-hundred day moving average is $9.59.

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.