Short Interest in BlackSky Technology Inc. (NYSE:BKSY) Drops By 13.7%

BlackSky Technology Inc. (NYSE:BKSY) was the recipient of a large decline in short interest in 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. Based on an average daily volume of 1,320,000 shares, the short-interest ratio is presently 1.5 days. Currently, 8.4% of the shares of the company are sold short.

Analyst Ratings Changes

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

Insider Activity at BlackSky Technology

In other BlackSky Technology news, CEO Brian E. O’toole sold 7,020 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $10.65, for a total transaction of $74,763.00. Following the completion of the transaction, the chief executive officer now directly owns 691,909 shares in the company, valued at approximately $7,368,830.85. This represents a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Christiana L. Lin sold 5,550 shares of the company’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 $59,107.50. Following the transaction, the chief accounting officer now owns 354,143 shares of the company’s stock, valued at $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 worth $245,866 in the last three months. Company insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On BlackSky Technology

A number of large investors have recently modified their holdings of the business. Thompson Siegel & Walmsley LLC purchased a new stake in shares of BlackSky Technology during the third quarter worth $3,674,000. Geode Capital Management LLC grew its holdings in shares of BlackSky Technology by 94.2% during the fourth quarter. Geode Capital Management LLC now owns 551,444 shares of the company’s stock worth $5,951,000 after buying an additional 267,427 shares in the last quarter. Invesco Ltd. purchased a new stake in shares of BlackSky Technology during the fourth quarter worth $3,868,000. Trexquant Investment LP grew its holdings in shares of BlackSky Technology by 2,309.8% during the fourth quarter. Trexquant Investment LP now owns 301,590 shares of the company’s stock worth $3,254,000 after buying an additional 289,075 shares in the last quarter. Finally, Perkins Capital Management Inc. purchased a new stake in shares of BlackSky Technology during the third quarter worth $1,114,000. Hedge funds and other institutional investors own 27.15% of the company’s stock.

BlackSky Technology Trading Down 5.3 %

Shares of BlackSky Technology stock traded down $0.93 during trading hours on Friday, reaching $16.83. 1,038,543 shares of the company’s stock were exchanged, compared to its average volume of 1,829,981. BlackSky Technology has a 1 year low of $3.86 and a 1 year high of $18.33. The business has a fifty day moving average of $12.51 and a two-hundred day moving average of $9.38. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.68 and a quick ratio of 5.68.

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.