Insider Selling: Satellogic (NASDAQ:SATL) Major Shareholder Sells 5,575 Shares of Stock

Satellogic Inc. (NASDAQ:SATL) major shareholder Fitzgerald Cantor sold 5,575 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $5.55, for a total transaction of $30,941.25. Following the completion of the transaction, the insider owned 12,856,500 shares of the company’s stock, valued at $71,353,575. The trade was a 0.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Satellogic Stock Performance

Shares of NASDAQ SATL traded down $0.64 during trading hours on Friday, hitting $4.60. 17,325,039 shares of the stock were exchanged, compared to its average volume of 13,549,259. The company’s fifty day simple moving average is $2.64 and its two-hundred day simple moving average is $2.93. The company has a market cap of $623.16 million, a PE ratio of -19.17 and a beta of 1.36. Satellogic Inc. has a 1-year low of $1.25 and a 1-year 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.

Wall Street Analyst Weigh In

SATL has been the subject of a number of research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Satellogic in a research note on Thursday, January 22nd. Craig Hallum assumed coverage on Satellogic in a report on Wednesday, January 21st. They set a “buy” rating and a $5.00 price objective 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. According to data from MarketBeat.com, Satellogic has a consensus rating of “Hold” and an average price target of $5.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. bought a new stake in shares of Satellogic in the 2nd quarter valued at about $25,000. BNP Paribas Financial Markets boosted its holdings in Satellogic by 107.5% in the third quarter. BNP Paribas Financial Markets now owns 13,613 shares of the company’s stock valued at $45,000 after acquiring an additional 7,052 shares during the last quarter. Legal & General Group Plc acquired a new stake in Satellogic during the 2nd quarter valued at approximately $27,000. Farther Finance Advisors LLC bought a new position in Satellogic during the 3rd quarter worth approximately $26,000. Finally, LMR Partners LLP acquired a new position in shares of Satellogic in the 2nd quarter worth approximately $30,000. 17.58% of the stock is owned by institutional investors and hedge funds.

About Satellogic

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.