Satellogic Inc. (NASDAQ:SATL) Sees Large Increase in Short Interest

Satellogic Inc. (NASDAQ:SATL) was the recipient of a significant increase in short interest in the month of January. As of January 30th, there was short interest totaling 12,231,080 shares, an increase of 33.3% from the January 15th total of 9,172,164 shares. Currently, 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. Currently, 18.7% of the shares of the stock are sold short.

Insider Transactions at Satellogic

In other Satellogic news, major shareholder Fitzgerald L. P. Cantor sold 388,827 shares of the business’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $5.63, for a total value of $2,189,096.01. Following the sale, the insider directly owned 12,862,075 shares in the company, valued at approximately $72,413,482.25. The trade was a 2.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 524,373 shares of company stock worth $2,942,676 over the last quarter. 51.62% of the stock is owned by insiders.

Institutional Trading of Satellogic

Institutional investors have recently made changes to their positions in the stock. Cantor Fitzgerald L. P. increased its stake in Satellogic by 16.2% in the 4th quarter. Cantor Fitzgerald L. P. now owns 13,380,873 shares of the company’s stock valued at $25,022,000 after buying an additional 1,863,696 shares during the period. Weiss Asset Management LP acquired a new stake in shares of Satellogic during the 4th quarter valued at $4,053,000. Russell Investments Group Ltd. grew its holdings in shares of Satellogic by 171.6% during the 4th quarter. Russell Investments Group Ltd. now owns 18,925 shares of the company’s stock valued at $35,000 after acquiring an additional 11,958 shares in the last quarter. Atom Investors LP acquired a new position in shares of Satellogic in the fourth quarter worth $32,000. Finally, Squarepoint Ops LLC raised its holdings in shares of Satellogic by 1,736.4% during the fourth quarter. Squarepoint Ops LLC now owns 184,451 shares of the company’s stock worth $345,000 after acquiring an additional 174,407 shares in the last quarter. 17.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Satellogic Price Performance

Satellogic stock traded down $0.27 during mid-day trading on Tuesday, hitting $2.87. The company’s stock had a trading volume of 4,882,258 shares, compared to its average volume of 12,456,893. Satellogic has a 52-week low of $1.25 and a 52-week high of $5.93. The company has a market cap of $388.79 million, a PE ratio of -11.96 and a beta of 1.39. The firm’s 50 day moving average is $3.04 and its 200 day moving average is $2.91.

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.