BlackSky Technology Inc. (NYSE:BKSY) Short Interest Down 8.6% in November

02 Dec 2024, 16:06 by Doug Wharley · The Cerbat Gem

BlackSky Technology Inc. (NYSE:BKSY – Get Free Report) was the target of a large decline in short interest in November. As of November 15th, there was short interest totalling 1,480,000 shares, a decline of 8.6% from the October 31st total of 1,620,000 shares. Based on an average daily volume of 915,500 shares, the days-to-cover ratio is currently 1.6 days. Approximately 6.2% of the shares of the company are sold short.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Craig Hallum upgraded BlackSky Technology from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Friday, October 4th. Oppenheimer assumed coverage on shares of BlackSky Technology in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $10.00 target price for the company. HC Wainwright dropped their price target on shares of BlackSky Technology from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Finally, Lake Street Capital upped their price objective on shares of BlackSky Technology from $4.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, BlackSky Technology has an average rating of “Buy” and an average price target of $17.60.

Check Out Our Latest Report on BKSY

BlackSky Technology Stock Down 0.5 %

Shares of BKSY stock traded down $0.06 on Monday, reaching $11.62. 813,045 shares of the company were exchanged, compared to its average volume of 318,722. BlackSky Technology has a one year low of $3.86 and a one year high of $14.16. The company has a market cap of $357.65 million, a price-to-earnings ratio of -5.17 and a beta of 0.92. The company has a 50-day moving average of $7.14 and a 200-day moving average of $7.92. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.68 and a quick ratio of 5.68.

BlackSky Technology (NYSE:BKSY – Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.66) EPS for the quarter, missing the consensus estimate of ($0.61) by ($0.05). BlackSky Technology had a negative net margin of 38.83% and a negative return on equity of 49.91%. The firm had revenue of $22.55 million for the quarter, compared to the consensus estimate of $26.93 million. During the same quarter in the prior year, the firm earned ($0.96) EPS. Analysts anticipate that BlackSky Technology will post -2.28 earnings per share for the current year.

Insiders Place Their Bets

In other BlackSky Technology news, CAO Christiana L. Lin sold 13,031 shares of BlackSky Technology stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $7.19, for a total value of $93,692.89. Following the transaction, the chief accounting officer now owns 190,775 shares in the company, valued at $1,371,672.25. The trade was a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Brian E. O’toole sold 24,352 shares of BlackSky Technology stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $7.19, for a total transaction of $175,090.88. Following the sale, the chief executive officer now directly owns 479,785 shares in the company, valued at $3,449,654.15. This trade represents a 4.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,362 shares of company stock worth $446,535 in the last quarter. 4.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Virtu Financial LLC boosted its position in shares of BlackSky Technology by 134.5% during the first quarter. Virtu Financial LLC now owns 145,514 shares of the company’s stock valued at $198,000 after buying an additional 83,462 shares during the last quarter. Perkins Capital Management Inc. bought a new stake in shares of BlackSky Technology in the 3rd quarter worth $1,114,000. Squarepoint Ops LLC purchased a new stake in shares of BlackSky Technology in the second quarter valued at about $295,000. Thompson Siegel & Walmsley LLC bought a new position in shares of BlackSky Technology during the third quarter valued at about $3,674,000. Finally, LA Financiere DE L Echiquier boosted its holdings in BlackSky Technology by 13.6% during the second quarter. LA Financiere DE L Echiquier now owns 933,000 shares of the company’s stock worth $998,000 after purchasing an additional 112,000 shares during the last quarter. 27.15% of the stock is owned by institutional investors.

BlackSky Technology Company Profile

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