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

BlackSky Technology Inc. (NYSE:BKSY) was the recipient 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 company’s stock are short sold. Based on an average trading volume of 1,610,000 shares, the days-to-cover ratio is presently 2.2 days.

BlackSky Technology Stock Down 2.1 %

Shares of NYSE BKSY traded down $0.17 during mid-day trading on Monday, reaching $7.74. The company had a trading volume of 1,061,116 shares, compared to its average volume of 748,443. The firm has a 50 day simple moving average of $13.16 and a two-hundred day simple moving average of $10.11. BlackSky Technology has a 52-week low of $3.86 and a 52-week high of $21.92. The company has a current ratio of 5.68, a quick ratio of 5.68 and a debt-to-equity ratio of 0.89. The stock has a market cap of $244.96 million, a P/E ratio of -3.43 and a beta of 1.27.

Wall Street Analyst Weigh In

BKSY has been the subject of several analyst reports. Benchmark reiterated a “buy” rating and set a $17.00 price target on shares of BlackSky Technology in a report on Friday, March 7th. HC Wainwright reissued a “buy” rating and issued a $20.00 target price on shares of BlackSky Technology in a report on Friday, March 7th. Finally, Oppenheimer raised their price target on BlackSky Technology from $10.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $21.80.

Institutional Trading of BlackSky Technology

Several institutional investors and hedge funds have recently made changes to their positions in BKSY. Two Sigma Investments LP acquired a new position in BlackSky Technology during the fourth quarter worth approximately $1,219,000. Nuveen Asset Management LLC increased its holdings in shares of BlackSky Technology by 20.5% in the 4th quarter. Nuveen Asset Management LLC now owns 72,890 shares of the company’s stock valued at $786,000 after acquiring an additional 12,378 shares during the period. Mithril II GP LP acquired a new position in shares of BlackSky Technology in the 4th quarter valued at $11,116,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of BlackSky Technology by 93.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,159 shares of the company’s stock valued at $153,000 after purchasing an additional 6,835 shares during the period. Finally, Graham Capital Management L.P. purchased a new stake in shares of BlackSky Technology during the fourth quarter worth approximately $186,000. 27.15% of the stock is owned by hedge funds and other institutional investors.

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.