Satellogic Inc. (NASDAQ:SATL) Short Interest Update

Satellogic Inc. (NASDAQ:SATL) was the recipient of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totaling 3,310,000 shares, a decrease of 29.4% from the September 30th total of 4,690,000 shares. Approximately 4.6% of the company’s shares are sold short. Based on an average trading volume of 3,150,000 shares, the short-interest ratio is presently 1.1 days. Based on an average trading volume of 3,150,000 shares, the short-interest ratio is presently 1.1 days. Approximately 4.6% of the company’s shares are sold short.

Satellogic Stock Performance

Shares of NASDAQ:SATL traded down $0.03 on Monday, reaching $1.88. The company’s stock had a trading volume of 4,109,504 shares, compared to its average volume of 1,899,447. Satellogic has a 52-week low of $0.93 and a 52-week high of $5.49. The company has a 50-day simple moving average of $3.29 and a 200 day simple moving average of $3.53. The company has a market cap of $230.02 million, a P/E ratio of -8.55 and a beta of 1.37.

Satellogic (NASDAQ:SATL) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.06) earnings per share for the quarter. The company had revenue of $4.44 million for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Satellogic in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Insider Activity at Satellogic

In other news, CEO Emiliano Kargieman sold 435,956 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $3.94, for a total transaction 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. This represents a 16.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold 1,748,359 shares of company stock worth $6,883,879 over the last ninety days. Corporate insiders own 51.62% of the company’s stock.

Institutional Investors Weigh In On Satellogic

A number of hedge funds have recently modified their holdings of SATL. Ameritas Investment Partners Inc. purchased a new stake in shares of Satellogic in the second quarter valued at about $25,000. Legal & General Group Plc purchased a new position in shares of Satellogic in the second quarter valued at approximately $27,000. Farther Finance Advisors LLC acquired a new stake in Satellogic in the third quarter valued at approximately $26,000. LMR Partners LLP acquired a new stake in Satellogic in the second quarter valued at approximately $30,000. Finally, ProShare Advisors LLC acquired a new stake in Satellogic during the second quarter worth approximately $51,000. 17.58% of the stock is currently 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.