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

BlackSky Technology Inc. (NYSE:BKSYGet Free Report) saw a significant growth in short interest in March. As of March 15th, there was short interest totalling 6,050,000 shares, a growth of 9.2% from the February 29th total of 5,540,000 shares. Approximately 6.4% of the company’s stock are short sold. Based on an average trading volume of 661,100 shares, the short-interest ratio is currently 9.2 days.

Hedge Funds Weigh In On BlackSky Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of BKSY. Van ECK Associates Corp lifted its holdings in shares of BlackSky Technology by 32.8% in the 4th quarter. Van ECK Associates Corp now owns 43,346 shares of the company’s stock worth $61,000 after purchasing an additional 10,701 shares during the last quarter. Advisor Group Holdings Inc. boosted its holdings in shares of BlackSky Technology by 163.4% during the first quarter. Advisor Group Holdings Inc. now owns 17,320 shares of the company’s stock valued at $33,000 after acquiring an additional 10,745 shares during the period. Royal Bank of Canada grew its position in shares of BlackSky Technology by 214.6% during the second quarter. Royal Bank of Canada now owns 17,251 shares of the company’s stock worth $38,000 after acquiring an additional 11,768 shares during the last quarter. Two Sigma Securities LLC bought a new position in shares of BlackSky Technology during the second quarter worth about $26,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of BlackSky Technology in the 2nd quarter worth about $28,000. 27.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on BKSY shares. HC Wainwright initiated coverage on BlackSky Technology in a research note on Wednesday. They set a “buy” rating and a $2.50 price objective for the company. Benchmark restated a “buy” rating and issued a $3.00 price target on shares of BlackSky Technology in a research note on Thursday, March 14th.

Get Our Latest Stock Analysis on BKSY

BlackSky Technology Stock Performance

Shares of BKSY traded up $0.06 during mid-day trading on Wednesday, hitting $1.39. The stock had a trading volume of 268,290 shares, compared to its average volume of 634,967. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 0.90. The company has a market cap of $203.31 million, a PE ratio of -3.39 and a beta of 1.02. BlackSky Technology has a fifty-two week low of $1.04 and a fifty-two week high of $2.37. The company’s fifty day simple moving average is $1.40 and its two-hundred day simple moving average is $1.31.

BlackSky Technology (NYSE:BKSYGet Free Report) last issued its earnings results on Wednesday, February 28th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.04. BlackSky Technology had a negative net margin of 57.06% and a negative return on equity of 75.79%. The company had revenue of $35.51 million for the quarter, compared to analysts’ expectations of $26.13 million. On average, equities analysts expect that BlackSky Technology will post -0.29 earnings per share for the current year.

About BlackSky Technology

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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.

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