BlackSky Technology Inc. (NYSE:BKSY) Sees Large Decline in Short Interest
BlackSky Technology Inc. (NYSE:BKSY - Get Rating) was the target of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 1,630,000 shares, a decrease of 26.9% from the August 15th total of 2,230,000 shares. Based on an average daily volume of 2,550,000 shares, the days-to-cover ratio is currently 0.6 days. Currently, 2.7% of the company's stock are short sold.
Analyst Upgrades and Downgrades
Separately, Lake Street Capital started coverage on shares of BlackSky Technology in a research report on Tuesday, July 26th. They set a "buy" rating and a $6.00 target price on the stock.
Hedge Funds Weigh In On BlackSky Technology
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Northern Trust Corp acquired a new position in BlackSky Technology during the 4th quarter worth approximately $443,000. LA Financiere DE L Echiquier raised its position in shares of BlackSky Technology by 37.5% in the 1st quarter. LA Financiere DE L Echiquier now owns 201,800 shares of the company's stock valued at $382,000 after purchasing an additional 55,000 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in shares of BlackSky Technology in the 4th quarter valued at approximately $435,000. J.W. Cole Advisors Inc. raised its position in shares of BlackSky Technology by 96.3% in the 1st quarter. J.W. Cole Advisors Inc. now owns 45,875 shares of the company's stock valued at $87,000 after purchasing an additional 22,500 shares in the last quarter. Finally, Alaska Permanent Capital Management acquired a new position in shares of BlackSky Technology in the 2nd quarter valued at approximately $2,456,000. 14.26% of the stock is owned by institutional investors and hedge funds.
BlackSky Technology Price Performance
BlackSky Technology stock traded down $0.11 during midday trading on Friday, hitting $1.80. 1,296,803 shares of the company were exchanged, compared to its average volume of 808,428. The company's fifty day moving average price is $2.24 and its 200-day moving average price is $2.04. The company has a debt-to-equity ratio of 0.50, a quick ratio of 5.37 and a current ratio of 5.37. BlackSky Technology has a fifty-two week low of $1.00 and a fifty-two week high of $12.45.
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 operations of satellite and ground systems to commercial and government customers worldwide. The company processes a range of observations from its constellation, as well as various space, internet-of-things, and terrestrial based sensors and data feeds.
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