Satellogic (NASDAQ:SATL) Major Shareholder Sells $2,189,096.01 in Stock

Satellogic Inc. (NASDAQ:SATL) major shareholder Fitzgerald Cantor sold 388,827 shares of the firm’s stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $5.63, for a total transaction of $2,189,096.01. Following the sale, the insider owned 12,862,075 shares in the company, valued at $72,413,482.25. This trade represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Satellogic Stock Performance

Shares of SATL stock traded down $0.64 during midday trading on Friday, hitting $4.60. 17,325,039 shares of the company were exchanged, compared to its average volume of 13,549,259. The firm’s 50 day moving average price is $2.64 and its two-hundred day moving average price is $2.93. The firm has a market capitalization of $623.16 million, a P/E ratio of -19.17 and a beta of 1.36. Satellogic Inc. has a 52 week low of $1.25 and a 52 week high of $5.93.

Satellogic (NASDAQ:SATL) last released its earnings results on Monday, November 10th. The company reported ($0.02) earnings per share for the quarter. The business had revenue of $3.63 million during the quarter.

Institutional Investors Weigh In On Satellogic

Several hedge funds have recently made changes to their positions in SATL. Vanguard Group Inc. grew its stake in Satellogic by 44.4% in the third quarter. Vanguard Group Inc. now owns 3,262,216 shares of the company’s stock valued at $10,700,000 after purchasing an additional 1,002,400 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Satellogic by 1,671.4% during the 2nd quarter. Geode Capital Management LLC now owns 874,487 shares of the company’s stock valued at $3,166,000 after buying an additional 825,121 shares during the last quarter. Halter Ferguson Financial Inc. acquired a new stake in Satellogic during the third quarter valued at $1,276,000. Penserra Capital Management LLC grew its holdings in Satellogic by 8.7% in the third quarter. Penserra Capital Management LLC now owns 114,184 shares of the company’s stock valued at $374,000 after purchasing an additional 9,111 shares during the period. Finally, Rhumbline Advisers acquired a new stake in Satellogic in the 2nd quarter valued at $351,000. 17.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SATL shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Satellogic in a report on Thursday, January 22nd. Craig Hallum began coverage on shares of Satellogic in a report on Wednesday, January 21st. They set a “buy” rating and a $5.00 price target on the stock. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $5.00.

Satellogic Company Profile

Satellogic Inc is a NewSpace company specializing in the design, manufacture and operation of a low?Earth?orbit (LEO) microsatellite constellation. The company’s satellites capture high?resolution multispectral imagery, enabling detailed monitoring of agricultural, forestry, maritime, energy and infrastructure assets. Satellogic’s vertically integrated model covers end?to?end capabilities, from satellite development and deployment to data processing and analytics, allowing clients to access imagery and insights on demand.

Key offerings include geospatial data products, analytics services and software tools that leverage machine learning algorithms to interpret changes on Earth’s surface.