BlackSky Technology Inc. (NYSE:BKSY) Short Interest Up 7.8% in June

BlackSky Technology Inc. (NYSE:BKSY) was the target of a significant growth in short interest in June. As of June 15th, there was short interest totalling 6,360,000 shares, a growth of 7.8% from the May 31st total of 5,900,000 shares. Based on an average trading volume of 554,200 shares, the days-to-cover ratio is currently 11.5 days. Currently, 5.5% of the shares of the stock are short sold.

Hedge Funds Weigh In On BlackSky Technology

Several hedge funds have recently modified their holdings of the company. Van ECK Associates Corp boosted its stake in shares of BlackSky Technology by 32.8% during the 4th quarter. Van ECK Associates Corp now owns 43,346 shares of the company’s stock worth $61,000 after acquiring an additional 10,701 shares in the last quarter. LA Financiere DE L Echiquier boosted its stake in shares of BlackSky Technology by 10.6% during the 4th quarter. LA Financiere DE L Echiquier now owns 896,000 shares of the company’s stock worth $1,254,000 after acquiring an additional 86,000 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of 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 boosted its stake in shares of BlackSky Technology by 134.5% during the 1st quarter. Virtu Financial LLC now owns 145,514 shares of the company’s stock worth $198,000 after acquiring an additional 83,462 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its stake in shares of BlackSky Technology by 123.8% during the 1st quarter. GSA Capital Partners LLP now owns 315,900 shares of the company’s stock worth $430,000 after acquiring an additional 174,773 shares in the last quarter. 27.15% of the stock is currently owned by institutional investors and hedge funds.

BlackSky Technology Stock Performance

Shares of NYSE BKSY remained flat at $1.03 during mid-day trading on Wednesday. The company had a trading volume of 78,039 shares, compared to its average volume of 605,765. BlackSky Technology has a 1-year low of $0.86 and a 1-year high of $2.20. The company has a current ratio of 4.02, a quick ratio of 4.02 and a debt-to-equity ratio of 1.04. The firm’s 50 day simple moving average is $1.12 and its 200 day simple moving average is $1.28.

BlackSky Technology (NYSE:BKSY) last posted its earnings results on Wednesday, May 8th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.03). BlackSky Technology had a negative net margin of 52.24% and a negative return on equity of 82.02%. The business had revenue of $24.24 million during the quarter, compared to analyst estimates of $25.02 million. Equities research analysts expect that BlackSky Technology will post -0.34 EPS for the current year.

Analyst Upgrades and Downgrades

BKSY has been the subject of several analyst reports. HC Wainwright reiterated a “buy” rating and issued a $2.50 target price on shares of BlackSky Technology in a research note on Thursday, May 9th. Benchmark reiterated a “buy” rating and issued a $3.00 target price on shares of BlackSky Technology in a research note on Thursday, March 14th.

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.