Short Interest in BlackSky Technology Inc. (NYSE:BKSY) Drops By 9.1%

BlackSky Technology Inc. (NYSE:BKSY) was the recipient of a large drop in short interest in July. As of July 15th, there was short interest totalling 5,580,000 shares, a drop of 9.1% from the June 30th total of 6,140,000 shares. Based on an average trading volume of 559,300 shares, the days-to-cover ratio is presently 10.0 days. Currently, 4.8% of the company’s stock are short sold.

BlackSky Technology Stock Performance

BKSY stock traded down $0.09 on Thursday, hitting $1.03. The company’s stock had a trading volume of 444,878 shares, compared to its average volume of 583,000. The stock has a market cap of $153.38 million, a price-to-earnings ratio of -2.95 and a beta of 1.00. The firm has a 50 day moving average of $1.07 and a two-hundred day moving average of $1.24. The company has a current ratio of 4.02, a quick ratio of 4.02 and a debt-to-equity ratio of 1.04. BlackSky Technology has a 1 year low of $0.86 and a 1 year high of $1.97.

BlackSky Technology (NYSE:BKSY) last announced its earnings results on Wednesday, May 8th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.03). BlackSky Technology had a negative return on equity of 82.02% and a negative net margin of 52.24%. The business had revenue of $24.24 million for the quarter, compared to analyst estimates of $25.02 million. Equities analysts predict that BlackSky Technology will post -0.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp increased its stake in shares of BlackSky Technology by 32.8% during the fourth quarter. Van ECK Associates Corp now owns 43,346 shares of the company’s stock worth $61,000 after acquiring an additional 10,701 shares during the period. Virtu Financial LLC lifted its holdings in shares of BlackSky Technology by 134.5% in the 1st 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 period. GSA Capital Partners LLP grew its holdings in BlackSky Technology by 123.8% during the first quarter. GSA Capital Partners LLP now owns 315,900 shares of the company’s stock worth $430,000 after acquiring an additional 174,773 shares during the period. LA Financiere DE L Echiquier lifted its holdings in BlackSky Technology by 13.6% in the second quarter. LA Financiere DE L Echiquier now owns 933,000 shares of the company’s stock valued at $998,000 after acquiring an additional 112,000 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of BlackSky Technology by 17.8% during the 1st quarter. Vanguard Group Inc. now owns 5,291,909 shares of the company’s stock worth $7,197,000 after purchasing an additional 800,287 shares in the last quarter. Institutional investors and hedge funds own 27.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “buy” rating and issued a $2.50 target price on shares of BlackSky Technology in a research report on Thursday, May 9th.

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.