Satellogic (NASDAQ:SATL) Trading Up 11.3% – Here’s What Happened

Satellogic Inc. (NASDAQ:SATL)’s stock price was up 11.3% on Wednesday . The stock traded as high as $4.06 and last traded at $4.04. Approximately 5,023,798 shares were traded during trading, an increase of 108% from the average daily volume of 2,420,814 shares. The stock had previously closed at $3.63.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Satellogic in a research note on Wednesday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.

Satellogic Stock Up 11.3%

The firm has a fifty day simple moving average of $3.56 and a 200 day simple moving average of $3.65.

Satellogic (NASDAQ:SATL) last posted its quarterly earnings results on Tuesday, August 12th. The company reported ($0.06) EPS for the quarter. The business had revenue of $4.44 million during the quarter.

Insider Transactions at Satellogic

In other news, President Matthew Tirman sold 29,073 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $3.45, for a total value of $100,301.85. Following the completion of the transaction, the president directly owned 99,162 shares of the company’s stock, valued at approximately $342,108.90. This represents a 22.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Emiliano Kargieman sold 435,956 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $3.94, for a total value of $1,717,666.64. Following the completion of the transaction, the chief executive officer directly owned 2,226,793 shares of the company’s stock, valued at approximately $8,773,564.42. The trade was a 16.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,051,895 shares of company stock valued at $4,044,419. Corporate insiders own 63.71% of the company’s stock.

Hedge Funds Weigh In On Satellogic

Hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Satellogic in the 2nd quarter worth approximately $137,000. JPMorgan Chase & Co. bought a new stake in Satellogic during the 2nd quarter worth approximately $118,000. New York State Common Retirement Fund bought a new stake in Satellogic during the 2nd quarter worth approximately $97,000. Bank of America Corp DE bought a new stake in Satellogic during the 2nd quarter worth approximately $88,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Satellogic during the 2nd quarter worth approximately $87,000. 17.58% of the stock is owned by institutional investors and hedge funds.

Satellogic Company Profile

Satellogic Inc operates as an integrated geospatial company in the Asia Pacific, North America, and internationally. It engages in tasking satellites with monitoring assets and keeping up with their changing reality for government and commercial customers; control satellites on top of specific areas of interest for governments; and sale and support satellites.