Satellogic (NASDAQ:SATL) Major Shareholder Fitzgerald Cantor Sells 388,827 Shares

by · The Markets Daily

Satellogic Inc. (NASDAQ:SATL – Get Free Report) major shareholder Fitzgerald Cantor sold 388,827 shares of the stock in a transaction on 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 $72,413,482.25. This trade represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Satellogic Stock Down 12.2%

NASDAQ SATL traded down $0.64 during trading hours on Friday, reaching $4.60. The company’s stock had a trading volume of 17,325,039 shares, compared to its average volume of 13,549,259. The firm’s 50-day moving average price is $2.64 and its 200-day moving average price is $2.93. Satellogic Inc. has a 1 year low of $1.25 and a 1 year high of $5.93. The company has a market capitalization of $623.16 million, a price-to-earnings ratio of -19.17 and a beta of 1.36.

Satellogic (NASDAQ:SATL – Get Free Report) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.02) earnings per share (EPS) for the quarter. The company had revenue of $3.63 million during the quarter.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Satellogic in a research note on Thursday, January 22nd. Craig Hallum began coverage on shares of Satellogic in a research report on Wednesday, January 21st. They issued 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $5.00.

Read Our Latest Analysis on SATL

Institutional Investors Weigh In On Satellogic

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Satellogic by 44.4% during the 3rd 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 during the period. Geode Capital Management LLC lifted its position in Satellogic by 1,671.4% during the 2nd quarter. Geode Capital Management LLC now owns 874,487 shares of the company’s stock worth $3,166,000 after acquiring an additional 825,121 shares during the last quarter. Halter Ferguson Financial Inc. acquired a new position in shares of Satellogic during the third quarter valued at about $1,276,000. Penserra Capital Management LLC boosted 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 valued at $374,000 after purchasing an additional 9,111 shares in the last quarter. Finally, Rhumbline Advisers bought a new stake in Satellogic during the 2nd quarter worth approximately $351,000. 17.58% of the stock is currently owned by hedge funds and other institutional investors.

Satellogic Company Profile

(Get Free Report)

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.

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