BlackSky Technology Inc. (NYSE:BKSY) Sees Significant Decrease in Short Interest

BlackSky Technology Inc. (NYSE:BKSY) was the target of a significant decline in short interest during the month of 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. Currently, 8.4% of the shares of the company are sold short. Based on an average daily trading volume, of 1,320,000 shares, the days-to-cover ratio is currently 1.5 days.

BlackSky Technology Price Performance

NYSE:BKSY opened at $16.83 on Tuesday. The stock has a market cap of $517.94 million, a P/E ratio of -7.45 and a beta of 1.20. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.68 and a quick ratio of 5.68. The company has a fifty day moving average price of $12.63 and a 200 day moving average price of $9.44. BlackSky Technology has a one year low of $3.86 and a one year high of $18.33.

Analysts Set New Price Targets

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

Insider Transactions at BlackSky Technology

In other news, CAO Christiana L. Lin sold 5,550 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 value of $59,107.50. Following the completion of the sale, the chief accounting officer now directly owns 354,143 shares in the company, valued at approximately $3,771,622.95. The trade was a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Henry Edward Dubois sold 7,938 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $10.65, for a total transaction of $84,539.70. Following the completion of the sale, the chief financial officer now owns 420,779 shares of the company’s stock, valued at $4,481,296.35. The trade was a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,086 shares of company stock worth $245,866. 4.50% of the stock is owned by insiders.

Institutional Investors Weigh In On BlackSky Technology

Institutional investors and hedge funds have recently bought and sold shares of the business. Summit Investment Advisors Inc. increased its holdings in BlackSky Technology by 115.2% in the 4th 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 period. BNP Paribas Financial Markets increased its holdings in 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 buying an additional 683 shares during the period. Farther Finance Advisors LLC bought a new stake in shares of BlackSky Technology in the 4th quarter worth about $44,000. CIBC Private Wealth Group LLC bought a new stake in shares of BlackSky Technology in the 4th quarter worth about $76,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of BlackSky Technology in the 4th quarter worth about $84,000. 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.