Black Sky Technologies Inc. (NYSE: BKSY – Acquired Rated) was the recipient of a notable increase in short interest in September. As of Sept. 15, short interest totaled 1,930,000 shares, an increase of 18.4% from 1,630,000 shares on Aug. 31. About 3.2% of the company’s shares were sold short. Based on an average daily trading volume of 1,400,000 shares, the current daily coverage ratio is 1.4 days.
Institutional inflows and outflows
Several institutional investors have recently bought and sold BKSY shares. Samlyn Capital LLC increased its stake in BlackSky Technology by 10.6% in the second quarter. Samlyn Capital LLC now owns 1,309,397 shares of the company’s stock valued at $3,025,000 after purchasing an additional 125,433 shares in the previous quarter. LPL Financial LLC purchased a new stake in BlackSky Technology for about $37,000 in the second quarter. Apis Capital Advisors LLC purchased a new stake in BlackSky Technology for about $232,000 in the second quarter. Keybank National Association OH bought a new stake in BlackSky Technology for about $38,000 in the second quarter. Finally, LA Financiere DE L Echiquier increased its stock position in BlackSky Technology by 35.3% in the second quarter. LA Financiere DE L Echiquier now owns 273,009 shares of the company’s stock valued at $631,000 after purchasing an additional 71,209 shares in the previous quarter. 14.26% of the stock is currently held by hedge funds and other institutional investors.
Wall Street analysts predict growth
Separately, Lake Street Capital began covering BlackSky Technology in a research note on Tuesday, July 26. They have a “buy” rating and a $6.00 price target for the company.
Black Sky Technology Price Performance
BKSY shares were down $0.02 at $1.50 in Friday trade. Volume for the company’s shares was 762,775 shares, compared to its average volume of 772,730 shares. The stock has a 50-day simple moving average of $2.11 and its 200-day simple moving average of $2.02. The company has a quick ratio of 5.37, a current ratio of 5.37, and a debt-to-equity ratio of 0.50. BlackSky Technology has a 1-year low of $1.00 and a 1-year high of $11.48.
About Black Sky Technology
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BlackSky Technology Inc provides geospatial intelligence, imagery and related data analysis products and services, and mission systems including the development, integration and operation of satellite and ground systems to commercial and government customers worldwide. The company processes a range of observations from its constellations, as well as a variety of space, IoT and ground-based sensors and data feeds.
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