BlackSky Technology Inc. (NYSE:BKSY – Get Rating) was the recipient of a large 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. Approximately 2.7% of the company's stock are sold short. Based on an average trading volume of 2,550,000 shares, the short-interest ratio is currently 0.6 days.
BlackSky Technology Stock Performance
BlackSky Technology stock traded down $0.11 during mid-day trading on Friday, hitting $1.80. The company's stock had a trading volume of 1,296,803 shares, compared to its average volume of 808,428. The firm's 50 day moving average is $2.24 and its 200 day moving average is $2.04. 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 52-week low of $1.00 and a 52-week high of $12.45.
Get BlackSky Technology alerts:Institutional Investors Weigh In On BlackSky Technology
Several hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC acquired a new position in BlackSky Technology in the 1st quarter worth about $2,870,000. Alaska Permanent Capital Management acquired a new stake in BlackSky Technology in the 2nd quarter valued at approximately $2,456,000. Bank of New York Mellon Corp lifted its position in shares of BlackSky Technology by 102.8% in the 1st quarter. Bank of New York Mellon Corp now owns 1,537,605 shares of the company's stock worth $2,906,000 after acquiring an additional 779,523 shares during the period. State Street Corp lifted its position in shares of BlackSky Technology by 499.7% in the 1st quarter. State Street Corp now owns 199,091 shares of the company's stock worth $376,000 after acquiring an additional 165,891 shares during the period. Finally, Penserra Capital Management LLC lifted its position in shares of BlackSky Technology by 73.3% in the 1st quarter. Penserra Capital Management LLC now owns 315,464 shares of the company's stock worth $595,000 after acquiring an additional 133,427 shares during the period. 14.26% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Separately, Lake Street Capital initiated coverage on BlackSky Technology in a research note on Tuesday, July 26th. They issued a "buy" rating and a $6.00 price objective for the company.BlackSky Technology Company Profile
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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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