BlackSky Technology Inc. (NYSE:BKSY) Short Interest Update

BlackSky Technology Inc. (NYSE:BKSY) saw a large decline in short interest in January. As of January 31st, there was short interest totalling 2,010,000 shares, a decline of 13.7% from the January 15th total of 2,330,000 shares. Approximately 8.4% of the company’s shares are sold short. Based on an average trading volume of 1,320,000 shares, the days-to-cover ratio is presently 1.5 days.

BlackSky Technology Price Performance

NYSE BKSY opened at $16.83 on Tuesday. The stock has a market capitalization of $517.94 million, a P/E ratio of -7.45 and a beta of 1.20. BlackSky Technology has a 1 year low of $3.86 and a 1 year high of $18.33. The business’s fifty day moving average is $12.63 and its two-hundred day moving average is $9.44. The company has a debt-to-equity ratio of 0.89, a quick ratio of 5.68 and a current ratio of 5.68.

Insider Buying and Selling at BlackSky Technology

In other news, CEO Brian E. O’toole sold 7,020 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $10.65, for a total value of $74,763.00. Following the completion of the sale, the chief executive officer now directly owns 691,909 shares of the company’s stock, valued at approximately $7,368,830.85. The trade was a 1.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Christiana L. Lin sold 5,550 shares of the company’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 $59,107.50. Following the sale, the chief accounting officer now directly owns 354,143 shares of the company’s stock, valued at approximately $3,771,622.95. This represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,086 shares of company stock valued at $245,866 in the last three months. 4.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BlackSky Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its stake in shares of BlackSky Technology by 22.7% in the 4th quarter. BNP Paribas Financial Markets now owns 3,691 shares of the company’s stock valued at $40,000 after purchasing an additional 683 shares during the last quarter. Summit Investment Advisors Inc. raised its position in shares of BlackSky Technology by 115.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,626 shares of the company’s stock valued at $28,000 after buying an additional 1,406 shares during the last quarter. Bridgeway Capital Management LLC increased its stake in BlackSky Technology by 2.9% in the fourth quarter. Bridgeway Capital Management LLC now owns 59,450 shares of the company’s stock valued at $641,000 after acquiring an additional 1,700 shares during the period. Farther Finance Advisors LLC bought a new stake in BlackSky Technology in the fourth quarter valued at about $44,000. Finally, Corebridge Financial Inc. increased its stake in BlackSky Technology by 73.0% in the fourth quarter. Corebridge Financial Inc. now owns 12,481 shares of the company’s stock valued at $135,000 after acquiring an additional 5,266 shares during the period. 27.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, HC Wainwright increased their target price on BlackSky Technology from $12.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $19.20.

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.