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

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BKSY shares. HC Wainwright assumed coverage on BlackSky Technology in a research report on Wednesday. They set a "buy" rating and a $2.50 price objective on the stock. Benchmark reissued a "buy" rating and set a $3.00 target price on shares of BlackSky Technology in a research note on Thursday, March 14th.

Institutional Investors Weigh In On BlackSky Technology

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Two Sigma Securities LLC acquired a new stake in shares of BlackSky Technology in the second quarter valued at $26,000. Principal Financial Group Inc. acquired a new position in BlackSky Technology during the 2nd quarter worth $28,000. Nomura Holdings Inc. acquired a new position in BlackSky Technology during the 1st quarter worth $29,000. Shay Capital LLC acquired a new position in BlackSky Technology during the 4th quarter worth $32,000. Finally, Advisor Group Holdings Inc. grew its stake in BlackSky Technology by 163.4% during the 1st quarter. Advisor Group Holdings Inc. now owns 17,320 shares of the company's stock worth $33,000 after purchasing an additional 10,745 shares in the last quarter. Institutional investors and hedge funds own 27.15% of the company's stock.

BlackSky Technology Stock Up 6.4 %

BKSY stock traded up $0.08 on Wednesday, hitting $1.42. 605,367 shares of the company's stock were exchanged, compared to its average volume of 640,268. BlackSky Technology has a 12-month low of $1.04 and a 12-month high of $2.37. The firm has a 50 day moving average price of $1.40 and a two-hundred day moving average price of $1.31. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.89 and a current ratio of 2.89. The stock has a market cap of $206.96 million, a P/E ratio of -3.45 and a beta of 1.02.

BlackSky Technology (NYSE:BKSY - Get Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.04. BlackSky Technology had a negative return on equity of 75.79% and a negative net margin of 57.06%. The business had revenue of $35.51 million for the quarter, compared to the consensus estimate of $26.13 million. As a group, equities research analysts expect that BlackSky Technology will post -0.29 EPS for the current fiscal year.

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.