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

BlackSky Technology Inc. (NYSE:BKSY) was the target of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 2,100,000 shares, an increase of 22.1% from the December 15th total of 1,720,000 shares. Currently, 8.8% of the shares of the company are sold short. Based on an average daily trading volume, of 1,000,000 shares, the short-interest ratio is currently 2.1 days.

BlackSky Technology Trading Up 12.2 %

NYSE:BKSY traded up $1.28 on Friday, hitting $11.73. The stock had a trading volume of 1,687,690 shares, compared to its average volume of 943,124. The company has a fifty day moving average price of $10.41 and a two-hundred day moving average price of $8.47. The stock has a market cap of $360.96 million, a price-to-earnings ratio of -5.19 and a beta of 1.16. The company has a quick ratio of 5.68, a current ratio of 5.68 and a debt-to-equity ratio of 0.89. BlackSky Technology has a 1-year low of $3.86 and a 1-year high of $14.16.

BlackSky Technology (NYSE:BKSY) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($0.05). BlackSky Technology had a negative return on equity of 49.91% and a negative net margin of 38.83%. The business had revenue of $22.55 million during the quarter, compared to analysts’ expectations of $26.93 million. During the same quarter in the previous year, the company posted ($0.96) earnings per share. Equities research analysts expect that BlackSky Technology will post -2.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Lake Street Capital lifted their price target on BlackSky Technology from $4.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Oppenheimer began 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 for the company. Craig Hallum raised shares of BlackSky Technology from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research note on Friday, October 4th. Finally, HC Wainwright lowered their target price on shares of BlackSky Technology from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $17.60.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BKSY. Thompson Siegel & Walmsley LLC purchased a new stake in BlackSky Technology during the third quarter worth about $3,674,000. Squarepoint Ops LLC purchased a new stake in shares of BlackSky Technology during the second quarter worth $295,000. Perkins Capital Management Inc. purchased a new position in BlackSky Technology in the third quarter valued at $1,114,000. Finally, SG Americas Securities LLC acquired a new position in BlackSky Technology during the 4th quarter worth $111,000. Institutional investors and hedge funds own 27.15% of the company’s stock.

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.