Short Interest in BlackSky Technology Inc. (NYSE:BKSY) Rises By 12.4%

BlackSky Technology Inc. (NYSE:BKSY) was the target of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 1,720,000 shares, an increase of 12.4% from the November 30th total of 1,530,000 shares. Based on an average daily volume of 1,120,000 shares, the short-interest ratio is presently 1.5 days. Currently, 7.2% of the company’s stock are short sold.

BlackSky Technology Stock Performance

BKSY traded down $0.25 during midday trading on Wednesday, reaching $10.79. The company had a trading volume of 1,058,243 shares, compared to its average volume of 371,318. The business has a 50-day moving average of $9.63 and a two-hundred day moving average of $8.28. 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. The company has a market cap of $332.11 million, a P/E ratio of -4.77 and a beta of 1.15.

BlackSky Technology (NYSE:BKSY) last released its earnings results on Thursday, November 7th. The company reported ($0.66) earnings per share (EPS) 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 firm had revenue of $22.55 million during the quarter, compared to analysts’ expectations of $26.93 million. During the same period in the prior year, the company posted ($0.96) earnings per share. As a group, equities research analysts predict that BlackSky Technology will post -2.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BKSY has been the subject of several research analyst reports. Lake Street Capital lifted their price objective on BlackSky Technology from $4.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, September 30th. HC Wainwright cut their price target 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. 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 note on Friday, October 4th. Finally, 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 target price for the company. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, BlackSky Technology has a consensus rating of “Buy” and an average price target of $17.60.

Insider Buying and Selling at BlackSky Technology

In related news, CFO Henry Edward Dubois sold 7,938 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $10.65, for a total value of $84,539.70. Following the sale, the chief financial officer now owns 420,779 shares in the company, valued at approximately $4,481,296.35. This trade represents a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Brian E. O’toole sold 7,020 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $10.65, for a total transaction of $74,763.00. Following the sale, the chief executive officer now owns 691,909 shares of the company’s stock, valued at approximately $7,368,830.85. This represents a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,086 shares of company stock worth $245,866. Insiders own 4.50% of the company’s stock.

Institutional Trading of BlackSky Technology

Several institutional investors and hedge funds have recently modified their holdings of the company. Thompson Siegel & Walmsley LLC bought a new position in BlackSky Technology in the 3rd quarter worth $3,674,000. Squarepoint Ops LLC purchased a new position in shares of BlackSky Technology in the second quarter valued at about $295,000. Finally, Perkins Capital Management Inc. bought a new position in shares of BlackSky Technology in the third quarter worth about $1,114,000. 27.15% of the stock is currently owned by institutional investors.

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.