Short Interest in Satellogic Inc. (NASDAQ:SATL) Grows By 51.4%

Satellogic Inc. (NASDAQ:SATL) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totaling 8,219,040 shares, a growth of 51.4% from the December 15th total of 5,428,345 shares. Based on an average daily volume of 3,677,418 shares, the days-to-cover ratio is presently 2.2 days. Currently, 12.5% of the shares of the stock are sold short. Currently, 12.5% of the shares of the stock are sold short. Based on an average daily volume of 3,677,418 shares, the days-to-cover ratio is presently 2.2 days.

Institutional Investors Weigh In On Satellogic

Hedge funds have recently modified their holdings of the stock. Thompson Davis & CO. Inc. acquired a new stake in shares of Satellogic in the 4th quarter worth approximately $41,000. SG Americas Securities LLC acquired a new position in shares of Satellogic during the 4th quarter valued at $46,000. Bank of America Corp DE raised its holdings in shares of Satellogic by 84.1% during the 3rd quarter. Bank of America Corp DE now owns 44,997 shares of the company’s stock valued at $148,000 after buying an additional 20,552 shares during the period. Creative Planning acquired a new stake in Satellogic during the 3rd quarter valued at $161,000. Finally, Virtu Financial LLC acquired a new position in shares of Satellogic in the third quarter worth about $36,000. 17.58% of the stock is owned by institutional investors and hedge funds.

Satellogic Stock Performance

Shares of SATL traded up $0.07 during trading hours on Friday, hitting $3.56. 10,261,838 shares of the stock were exchanged, compared to its average volume of 6,723,899. The stock’s 50-day moving average price is $2.02 and its two-hundred day moving average price is $2.84. The company has a market cap of $482.27 million, a price-to-earnings ratio of -14.83 and a beta of 1.36. Satellogic has a 12-month low of $1.25 and a 12-month high of $5.12.

Satellogic (NASDAQ:SATL) last posted 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 for the quarter.

Wall Street Analysts Forecast Growth

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

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.