BlackSky Technology Inc. (NYSE:BKSY) Short Interest Up 41.1% in March

BlackSky Technology Inc. (NYSE:BKSY) was the target of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 3,470,000 shares, a growth of 41.1% from the February 28th total of 2,460,000 shares. Based on an average daily trading volume, of 1,610,000 shares, the days-to-cover ratio is presently 2.2 days. Approximately 13.5% of the company’s shares are short sold.

Analysts Set New Price Targets

A number of research analysts have issued reports on BKSY shares. HC Wainwright reissued a “buy” rating and issued a $20.00 target price on shares of BlackSky Technology in a research note on Friday, March 7th. Oppenheimer boosted their price objective on BlackSky Technology from $10.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Finally, Benchmark restated a “buy” rating and set a $17.00 target price on shares of BlackSky Technology in a report on Friday, March 7th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $21.80.

BlackSky Technology Stock Down 0.0 %

BlackSky Technology stock traded down $0.00 during midday trading on Tuesday, reaching $7.73. The stock had a trading volume of 715,876 shares, compared to its average volume of 751,114. The stock has a market capitalization of $244.48 million, a P/E ratio of -3.42 and a beta of 1.27. The firm’s fifty day simple moving average is $13.08 and its 200-day simple moving average is $10.12. The company has a debt-to-equity ratio of 0.89, a quick ratio of 5.68 and a current ratio of 5.68. BlackSky Technology has a 1-year low of $3.86 and a 1-year high of $21.92.

Institutional Trading of BlackSky Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in BKSY. Summit Investment Advisors Inc. grew its position in BlackSky Technology by 115.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,626 shares of the company’s stock valued at $28,000 after purchasing an additional 1,406 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of BlackSky Technology by 22.7% during the 4th quarter. BNP Paribas Financial Markets now owns 3,691 shares of the company’s stock worth $40,000 after buying an additional 683 shares during the last quarter. Farther Finance Advisors LLC bought a new position in shares of BlackSky Technology in the 4th quarter valued at about $44,000. CIBC Private Wealth Group LLC acquired a new stake in shares of BlackSky Technology in the fourth quarter valued at about $76,000. Finally, SBI Securities Co. Ltd. bought a new stake in BlackSky Technology during the fourth quarter worth about $84,000. 27.15% of the stock is currently owned by institutional investors and hedge funds.

BlackSky Technology Company Profile

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.