Satellogic (NASDAQ:SATL) Major Shareholder Fitzgerald Cantor Sells 129,971 Shares

Satellogic Inc. (NASDAQ:SATL) major shareholder Fitzgerald Cantor sold 129,971 shares of Satellogic stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $5.56, for a total transaction of $722,638.76. Following the transaction, the insider directly owned 13,250,902 shares of the company’s stock, valued at $73,675,015.12. This represents a 0.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Satellogic Trading Down 20.0%

Shares of SATL opened at $3.68 on Tuesday. The firm’s fifty day simple moving average is $2.69 and its two-hundred day simple moving average is $2.92. Satellogic Inc. has a 12 month low of $1.25 and a 12 month high of $5.93. The stock has a market capitalization of $498.53 million, a P/E ratio of -15.33 and a beta of 1.38.

Satellogic (NASDAQ:SATL) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.02) earnings per share (EPS) for the quarter. The firm had revenue of $3.63 million during the quarter.

Analysts Set New Price Targets

Several brokerages have recently commented on SATL. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Satellogic in a research report on Thursday, January 22nd. Craig Hallum initiated coverage on shares of Satellogic in a research note on Wednesday, January 21st. They set a “buy” rating and a $5.00 target price on the stock. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $5.00.

Hedge Funds Weigh In On Satellogic

A number of institutional investors have recently modified their holdings of SATL. Ameritas Investment Partners Inc. bought a new position in shares of Satellogic in the 2nd quarter worth $25,000. Farther Finance Advisors LLC acquired a new position in Satellogic during the third quarter worth $26,000. Legal & General Group Plc bought a new position in shares of Satellogic in the second quarter valued at $27,000. LMR Partners LLP bought a new position in shares of Satellogic in the second quarter valued at $30,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Satellogic during the third quarter valued at about $33,000. 17.58% of the stock is owned by institutional investors and hedge funds.

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.