BlackSky Technology Inc. (NYSE:BKSY) Short Interest Down 7.4% in October

BlackSky Technology Inc. (NYSE:BKSY) was the recipient of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 1,620,000 shares, a decline of 7.4% from the October 15th total of 1,750,000 shares. Approximately 7.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 714,800 shares, the days-to-cover ratio is presently 2.3 days.

BlackSky Technology Trading Up 7.5 %

BlackSky Technology stock opened at $9.06 on Tuesday. The company’s fifty day simple moving average is $6.27 and its 200-day simple moving average is $7.86. The company has a quick ratio of 4.19, a current ratio of 5.68 and a debt-to-equity ratio of 0.89. BlackSky Technology has a 12 month low of $3.86 and a 12 month high of $14.16. The stock has a market cap of $278.71 million, a P/E ratio of -4.03 and a beta of 0.92.

BlackSky Technology (NYSE:BKSY) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.66) EPS for the quarter, missing the consensus estimate of ($0.61) by ($0.05). BlackSky Technology had a negative net margin of 38.83% and a negative return on equity of 49.91%. The company had revenue of $22.55 million for the quarter, compared to analysts’ expectations of $26.93 million. During the same quarter in the prior year, the firm earned ($0.96) earnings per share. As a group, sell-side analysts forecast that BlackSky Technology will post -2.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BKSY shares. Oppenheimer started coverage on shares of BlackSky Technology in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $10.00 price objective on the stock. HC Wainwright lowered their price objective on shares of BlackSky Technology from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Craig Hallum upgraded shares of BlackSky Technology from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research report on Friday, October 4th. Finally, Lake Street Capital lifted their price objective on shares of BlackSky Technology from $4.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Five investment 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 $17.60.

Insiders Place Their Bets

In other BlackSky Technology news, CAO Christiana L. Lin sold 13,031 shares of BlackSky Technology stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $7.19, for a total value of $93,692.89. Following the transaction, the chief accounting officer now owns 190,775 shares in the company, valued at approximately $1,371,672.25. The trade was a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Henry Edward Dubois sold 23,590 shares of BlackSky Technology stock in a transaction that occurred on Tuesday, September 10th. The stock was 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 owns 231,645 shares in the company, valued at approximately $1,665,527.55. This trade represents a 9.24 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 62,362 shares of company stock worth $446,535. 4.50% of the stock is owned by insiders.

Institutional Investors Weigh In On BlackSky Technology

Several institutional investors and hedge funds have recently modified their holdings of the business. Virtu Financial LLC lifted its stake in shares of BlackSky Technology by 134.5% in the 1st quarter. Virtu Financial LLC now owns 145,514 shares of the company’s stock valued at $198,000 after purchasing an additional 83,462 shares during the last quarter. LA Financiere DE L Echiquier lifted its stake in shares of BlackSky Technology by 13.6% in the 2nd quarter. LA Financiere DE L Echiquier now owns 933,000 shares of the company’s stock valued at $998,000 after purchasing an additional 112,000 shares during the last quarter. Perkins Capital Management Inc. acquired a new stake in shares of BlackSky Technology in the 3rd quarter valued at $1,114,000. Squarepoint Ops LLC acquired a new stake in shares of BlackSky Technology in the 2nd quarter valued at $295,000. Finally, Thompson Siegel & Walmsley LLC acquired a new stake in shares of BlackSky Technology in the 3rd quarter valued at $3,674,000. Institutional investors and hedge funds own 27.15% of the company’s stock.

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.