Short Interest in Satellogic Inc. (NASDAQ:SATL) Increases By 33.3%

Satellogic Inc. (NASDAQ:SATL) was the target of a large growth in short interest during the month of January. As of January 30th, there was short interest totaling 12,231,080 shares, a growth of 33.3% from the January 15th total of 9,172,164 shares. Approximately 18.7% of the shares of the stock are sold short. Based on an average trading volume of 18,331,384 shares, the short-interest ratio is presently 0.7 days. Based on an average trading volume of 18,331,384 shares, the short-interest ratio is presently 0.7 days. Approximately 18.7% of the shares of the stock are sold short.

Satellogic Price Performance

Shares of Satellogic stock traded up $0.29 during midday trading on Friday, reaching $3.14. The company had a trading volume of 5,905,674 shares, compared to its average volume of 13,612,814. The stock has a fifty day moving average price of $3.01 and a 200 day moving average price of $2.91. Satellogic has a fifty-two week low of $1.25 and a fifty-two week high of $5.93. The firm has a market cap of $425.38 million, a PE ratio of -13.08 and a beta of 1.39.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, major shareholder Fitzgerald L. P. Cantor sold 5,575 shares of Satellogic stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $5.55, for a total transaction of $30,941.25. Following the sale, the insider directly owned 12,856,500 shares of the company’s stock, valued at approximately $71,353,575. This trade represents a 0.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders sold 524,373 shares of company stock worth $2,942,676. Insiders own 51.62% of the company’s stock.

Institutional Investors Weigh In On Satellogic

Several large investors have recently modified their holdings of SATL. Penserra Capital Management LLC acquired a new stake in Satellogic during the second quarter worth approximately $380,000. Halter Ferguson Financial Inc. bought a new position in shares of Satellogic during the 3rd quarter worth approximately $1,276,000. Squarepoint Ops LLC acquired a new stake in shares of Satellogic during the 3rd quarter worth approximately $33,000. GSA Capital Partners LLP acquired a new stake in shares of Satellogic during the 3rd quarter worth approximately $59,000. Finally, LMR Partners LLP bought a new stake in shares of Satellogic in the 2nd quarter valued at $30,000. 17.58% of the stock is currently owned by institutional investors and hedge funds.

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.