Satellogic Inc. (NASDAQ:SATL) Short Interest Update

Satellogic Inc. (NASDAQ:SATL - Get Free Report) was the target of a significant 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 trading volume of 1,200,000 shares, the days-to-cover ratio is presently 1.7 days. Currently, 4.3% of the company's stock are sold short.

Satellogic Trading Up 6.2%

Shares of Satellogic stock traded up $0.20 during trading hours on Monday, reaching $3.42. The company's stock had a trading volume of 866,442 shares, compared to its average volume of 676,038. Satellogic has a one year low of $0.72 and a one year high of $5.49. The company's 50 day simple moving average is $3.84 and its 200 day simple moving average is $3.52.

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

Insider Transactions at Satellogic

In related news, CFO Rick Dunn sold 72,712 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $4.63, for a total value of $336,656.56. Following the completion of the sale, the chief financial officer now directly owns 193,849 shares of the company's stock, valued at $897,520.87. The trade was a 27.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Matthew Tirman sold 22,860 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $4.16, for a total value of $95,097.60. Following the transaction, the president now directly owns 101,241 shares in the company, valued at approximately $421,162.56. This represents a 18.42% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 153,883 shares of company stock valued at $672,579. 63.71% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Satellogic

Large investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new position in shares of Satellogic during the fourth quarter worth about $68,000. Jane Street Group LLC acquired a new stake in shares of Satellogic in the fourth quarter valued at approximately $96,000. Insigneo Advisory Services LLC bought a new stake in shares of Satellogic during the fourth quarter valued at approximately $197,000. Finally, Liberty 77 Capital L.P. acquired a new position in shares of Satellogic during the fourth quarter worth approximately $57,000,000. 17.58% of the stock is owned by institutional investors and hedge funds.

About Satellogic

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.

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