Insider Selling: Satellogic (NASDAQ:SATL) Major Shareholder Sells 129,971 Shares of Stock

Key Points

• Fitzgerald Cantor sold 129,971 shares of Satellogic on Jan. 28 at an average price of $5.56 for about $722,639, leaving them with 13,250,902 shares (a 0.97% reduction) valued near $73.7 million per the SEC filing.
• Shares fell 12.2% and opened at $4.60; the stock trades well above its 50- and 200-day moving averages ($2.64 and $2.92), has a market cap of ~$623.2 million, a negative P/E (-19.17), and reported last quarter EPS of ($0.02) on $3.63 million in revenue.
• Analyst and institutional sentiment is mixed: one recent analyst started coverage with a "buy" and $5 target while Weiss Ratings reissued a "sell (d-)," institutional ownership is about 17.58%, and MarketBeat's consensus rating is "Hold" with an average $5 price target.

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

Satellogic Trading Down 12.2%

Shares of Satellogic stock opened at $4.60 on Monday. The company's 50-day moving average price is $2.64 and its 200-day moving average price is $2.92. Satellogic Inc. has a 12-month low of $1.25 and a 12-month high of $5.93. The company has a market cap of $623.16 million, a price-to-earnings ratio of -19.17 and a beta of 1.38.

Satellogic (NASDAQ:SATL - Get Free Report) last issued its quarterly earnings data 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.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Thompson Davis & CO. Inc. bought a new position in Satellogic during the 4th quarter valued at approximately $41,000. SG Americas Securities LLC bought a new position in shares of Satellogic during the fourth quarter valued at $46,000. Bank of America Corp DE increased its holdings in shares of Satellogic by 84.1% during the third quarter. Bank of America Corp DE now owns 44,997 shares of the company's stock valued at $148,000 after acquiring an additional 20,552 shares in the last quarter. Creative Planning purchased a new position in shares of Satellogic in the 3rd quarter worth about $161,000. Finally, Virtu Financial LLC bought a new position in Satellogic in the 3rd quarter worth about $36,000. Hedge funds and other institutional investors own 17.58% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Craig Hallum assumed coverage on shares of Satellogic in a report on Wednesday, January 21st. They issued a "buy" rating and a $5.00 price target on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Satellogic in a research note on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Satellogic has an average rating of "Hold" and an average price target of $5.00.

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.

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