Satellogic Inc. (NASDAQ:SATL) Sees Significant Growth in Short Interest

Satellogic Inc. (NASDAQ:SATL) was the target of a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 2,040,000 shares, an increase of 48.9% from the May 15th total of 1,370,000 shares. Based on an average daily volume of 1,200,000 shares, the short-interest ratio is presently 1.7 days. Currently, 4.3% of the company’s shares are short sold.

Insider Buying and Selling

In other news, President Matthew Tirman sold 22,860 shares of Satellogic stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $4.16, for a total value of $95,097.60. Following the completion of the transaction, the president now directly owns 101,241 shares of the company’s stock, valued at approximately $421,162.56. This trade represents a 18.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Rick Dunn sold 58,311 shares of Satellogic stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $4.13, for a total value of $240,824.43. Following the completion of the transaction, the chief financial officer now directly owns 135,538 shares of the company’s stock, valued at approximately $559,771.94. This trade represents a 30.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 153,883 shares of company stock valued at $672,579 in the last three months. Insiders own 63.71% of the company’s stock.

Hedge Funds Weigh In On Satellogic

A number of hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new position in Satellogic during the 4th quarter valued at about $68,000. Jane Street Group LLC acquired a new position in Satellogic during the 4th quarter valued at about $96,000. Insigneo Advisory Services LLC acquired a new position in Satellogic during the 4th quarter valued at about $197,000. Finally, Liberty 77 Capital L.P. acquired a new position in Satellogic during the 4th quarter valued at about $57,000,000. Institutional investors and hedge funds own 17.58% of the company’s stock.

Satellogic Price Performance

SATL stock opened at $3.31 on Wednesday. The stock has a 50-day moving average price of $3.84 and a 200-day moving average price of $3.53. Satellogic has a 1-year low of $0.72 and a 1-year high of $5.49.

Satellogic (NASDAQ:SATL) last issued its earnings results on Tuesday, May 13th. The company reported ($0.16) EPS for the quarter. The firm had revenue of $3.39 million during the quarter.

Satellogic Company Profile

Satellogic Inc operates as an integrated geospatial company in the Asia Pacific, North America, and internationally. It engages in tasking satellites with monitoring assets and keeping up with their changing reality for government and commercial customers; control satellites on top of specific areas of interest for governments; and sale and support satellites.