Satellogic (NASDAQ:SATL) Trading 8.7% Higher – Time to Buy?

Shares of Satellogic Inc. (NASDAQ:SATL) shot up 8.7% on Thursday . The stock traded as high as $1.78 and last traded at $1.75. 3,465,296 shares were traded during mid-day trading, an increase of 52% from the average session volume of 2,284,678 shares. The stock had previously closed at $1.61.

Wall Street Analyst Weigh In

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

Satellogic Trading Up 8.7%

The stock has a market capitalization of $237.07 million, a P/E ratio of -7.29 and a beta of 1.37. The company has a 50-day moving average price of $2.30 and a two-hundred day moving average price of $3.12.

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

Insider Buying and Selling at Satellogic

In related news, CFO Rick Dunn sold 22,692 shares of the business’s stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $3.80, for a total transaction of $86,229.60. Following the transaction, the chief financial officer owned 134,451 shares in the company, valued at $510,913.80. The trade was a 14.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Emiliano Kargieman sold 283,121 shares of the stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $4.08, for a total transaction of $1,155,133.68. Following the transaction, the chief executive officer directly owned 1,323,482 shares in the company, valued at approximately $5,399,806.56. This represents a 17.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,524,551 shares of company stock valued at $6,052,554 in the last quarter. 51.62% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Satellogic

A number of institutional investors and hedge funds have recently made changes to their positions in SATL. Bank of America Corp DE increased its position in Satellogic by 84.1% in 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 in the last quarter. Creative Planning acquired a new stake in Satellogic in the third quarter valued at approximately $161,000. Virtu Financial LLC bought a new stake in shares of Satellogic during the third quarter valued at approximately $36,000. Squarepoint Ops LLC bought a new stake in shares of Satellogic during the third quarter valued at approximately $33,000. Finally, BNP Paribas Financial Markets raised its position in shares of Satellogic by 107.5% during the third quarter. BNP Paribas Financial Markets now owns 13,613 shares of the company’s stock worth $45,000 after purchasing an additional 7,052 shares during the period. Institutional investors own 17.58% of the company’s stock.

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.