Insider Selling: Satellogic (NASDAQ:SATL) Major Shareholder Sells $2,189,096.01 in Stock

Satellogic Inc. (NASDAQ:SATL) major shareholder Fitzgerald Cantor sold 388,827 shares of the stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $5.63, for a total transaction of $2,189,096.01. Following the completion of the sale, the insider directly owned 12,862,075 shares of the company’s stock, valued at approximately $72,413,482.25. This trade represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Satellogic Stock Performance

Shares of Satellogic stock opened at $4.60 on Monday. Satellogic Inc. has a fifty-two week low of $1.25 and a fifty-two week high of $5.93. The company has a market capitalization of $623.16 million, a P/E ratio of -19.17 and a beta of 1.38. The company has a fifty day moving average of $2.64 and a 200 day moving average of $2.92.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SATL. Vanguard Group Inc. boosted its holdings in shares of Satellogic by 44.4% in the 3rd quarter. Vanguard Group Inc. now owns 3,262,216 shares of the company’s stock worth $10,700,000 after purchasing an additional 1,002,400 shares during the period. Geode Capital Management LLC lifted its position in Satellogic by 1,671.4% in the second quarter. Geode Capital Management LLC now owns 874,487 shares of the company’s stock worth $3,166,000 after buying an additional 825,121 shares during the last quarter. Halter Ferguson Financial Inc. purchased a new position in Satellogic during the third quarter worth $1,276,000. Penserra Capital Management LLC bought a new position in Satellogic during the second quarter valued at $380,000. Finally, Rhumbline Advisers bought a new position in Satellogic during the second quarter valued at $351,000. Institutional investors own 17.58% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Satellogic in a report on Thursday, January 22nd. Craig Hallum assumed coverage on shares of Satellogic in a research note on Wednesday, January 21st. They issued a “buy” rating and a $5.00 price target on the stock. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Satellogic presently has a consensus rating of “Hold” and an average target price of $5.00.

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.