Insider Selling: Satellogic (NASDAQ:SATL) Major Shareholder Sells $722,638.76 in Stock

Satellogic Inc. (NASDAQ:SATL) major shareholder Fitzgerald Cantor sold 129,971 shares of the business’s stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of $5.56, for a total value of $722,638.76. Following the completion of the transaction, the insider owned 13,250,902 shares of the company’s stock, valued at $73,675,015.12. This represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Satellogic Stock Performance

Shares of SATL opened at $3.76 on Thursday. The firm has a market cap of $509.37 million, a P/E ratio of -15.67 and a beta of 1.39. Satellogic Inc. has a twelve month low of $1.25 and a twelve month high of $5.93. The firm’s 50 day moving average price is $2.78 and its two-hundred day moving average price is $2.93.

Satellogic (NASDAQ:SATL) last issued its quarterly earnings data on Monday, November 10th. The company reported ($0.02) EPS for the quarter. The company had revenue of $3.63 million for the quarter.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Satellogic

Several institutional investors and hedge funds have recently bought and sold shares of the stock. 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 in the last quarter. Geode Capital Management LLC grew its stake in shares of Satellogic by 1,671.4% in the second 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 in the last quarter. Halter Ferguson Financial Inc. bought a new position in shares of Satellogic in the third quarter valued at $1,276,000. Penserra Capital Management LLC increased its holdings in Satellogic by 8.7% during the third quarter. Penserra Capital Management LLC now owns 114,184 shares of the company’s stock worth $374,000 after buying an additional 9,111 shares during the last quarter. Finally, Rhumbline Advisers bought a new stake in Satellogic during the second quarter worth $351,000. Institutional investors own 17.58% of the company’s stock.

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.