BlackSky Technology Inc. (NYSE:BKSY) Short Interest Down 8.6% in November

BlackSky Technology Inc. (NYSE:BKSY) was the target of a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 1,480,000 shares, a decline of 8.6% from the October 31st total of 1,620,000 shares. Based on an average trading volume of 915,500 shares, the short-interest ratio is presently 1.6 days. Currently, 6.2% of the company’s shares are short sold.

BlackSky Technology Stock Performance

Shares of BKSY traded down $1.10 during trading hours on Tuesday, reaching $10.61. 1,375,775 shares of the company traded hands, compared to its average volume of 323,956. 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 fifty-two week low of $3.86 and a fifty-two week high of $14.16. The stock has a fifty day simple moving average of $7.27 and a 200 day simple moving average of $7.94.

BlackSky Technology (NYSE:BKSY) last released its earnings results 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 for the quarter, compared to analysts’ expectations of $26.93 million. During the same quarter last year, the company posted ($0.96) earnings per share. Equities research analysts predict that BlackSky Technology will post -2.28 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. HC Wainwright decreased their target price on BlackSky Technology from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Lake Street Capital boosted their price objective on BlackSky Technology from $4.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Craig Hallum upgraded BlackSky Technology from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research note on Friday, October 4th. Finally, Oppenheimer started coverage on BlackSky Technology in a report on Wednesday, October 2nd. They set an “outperform” rating and a $10.00 price objective on the stock. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, BlackSky Technology currently has a consensus rating of “Buy” and a consensus price target of $17.60.

Insider Transactions at BlackSky Technology

In related news, CEO Brian E. O’toole sold 24,352 shares of the business’s 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 $175,090.88. Following the completion of the sale, the chief executive officer now owns 479,785 shares in the company, valued at $3,449,654.15. The trade was a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Henry Edward Dubois sold 23,590 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $7.19, for a total value of $169,612.10. Following the sale, the chief financial officer now owns 231,645 shares of the company’s stock, valued at approximately $1,665,527.55. The trade was a 9.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 62,362 shares of company stock worth $446,535 in the last quarter. Company insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BKSY. Virtu Financial LLC boosted its holdings in BlackSky Technology by 134.5% in the first quarter. Virtu Financial LLC now owns 145,514 shares of the company’s stock worth $198,000 after purchasing an additional 83,462 shares during the period. Squarepoint Ops LLC acquired a new position in BlackSky Technology in the second quarter worth $295,000. LA Financiere DE L Echiquier boosted its holdings 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 buying an additional 112,000 shares during the period. Perkins Capital Management Inc. bought a new stake in shares of BlackSky Technology during the 3rd quarter valued at about $1,114,000. Finally, Thompson Siegel & Walmsley LLC bought a new stake in shares of BlackSky Technology during the 3rd quarter valued at about $3,674,000. Hedge funds and other institutional investors 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.