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

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on BKSY. HC Wainwright reduced their target price on shares of BlackSky Technology from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Lake Street Capital raised their price target on shares of BlackSky Technology from $4.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Oppenheimer assumed coverage on shares of BlackSky Technology in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $10.00 target price for the company. Finally, Craig Hallum upgraded shares of BlackSky Technology from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research report on Friday, October 4th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $17.60.

Insider Buying and Selling

In other BlackSky Technology news, CAO Christiana L. Lin sold 13,031 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $7.19, for a total value of $93,692.89. Following the sale, the chief accounting officer now directly owns 190,775 shares in the company, valued at $1,371,672.25. The trade was a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brian E. O’toole sold 24,352 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $7.19, for a total transaction of $175,090.88. Following the transaction, 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 62,362 shares of company stock worth $446,535. 4.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BKSY. Vanguard Group Inc. grew its holdings in BlackSky Technology by 17.8% during the 1st quarter. Vanguard Group Inc. now owns 5,291,909 shares of the company’s stock worth $7,197,000 after acquiring an additional 800,287 shares in the last quarter. Virtu Financial LLC increased its holdings in BlackSky Technology by 134.5% in the 1st quarter. Virtu Financial LLC now owns 145,514 shares of the company’s stock worth $198,000 after buying an additional 83,462 shares during the period. Thompson Siegel & Walmsley LLC acquired a new stake in shares of BlackSky Technology during the 3rd quarter worth approximately $3,674,000. Perkins Capital Management Inc. acquired a new stake in BlackSky Technology in the 3rd quarter valued at $1,114,000. Finally, Squarepoint Ops LLC acquired a new stake in BlackSky Technology in the 2nd quarter valued at $295,000. Institutional investors own 27.15% of the company’s stock.

BlackSky Technology Trading Down 9.4 %

NYSE:BKSY traded down $1.10 during trading hours on Tuesday, hitting $10.61. 1,375,775 shares of the stock traded hands, compared to its average volume of 323,956. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.68 and a quick ratio of 5.68. BlackSky Technology has a 1 year low of $3.86 and a 1 year high of $14.16. The stock has a 50 day moving average price of $7.27 and a 200 day moving average price of $7.94.

BlackSky Technology (NYSE:BKSY) last issued its quarterly 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 net margin of 38.83% and a negative return on equity of 49.91%. The firm had revenue of $22.55 million for the quarter, compared to analysts’ expectations of $26.93 million. During the same period in the prior year, the firm earned ($0.96) EPS. Equities research analysts predict that BlackSky Technology will post -2.28 EPS for the current year.

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.