Satellogic (NASDAQ:SATL) Trading Up 3.7% - Here's Why

Key Points

• Satellogic's stock rose by 3.7% on Monday, reaching a high of $3.43 before closing at $3.38, despite a 23% decrease in trading volume.
• The company reported a quarterly loss of ($0.16) EPS with revenues of $3.39 million for the previous quarter.
• Insider trading activity included significant sales by key executives, with the President and CFO reducing their holdings by 18.42% and 27.28%, respectively.

Shares of Satellogic Inc. (NASDAQ:SATL - Get Free Report) traded up 3.7% on Monday . The stock traded as high as $3.43 and last traded at $3.38. Approximately 873,030 shares changed hands during mid-day trading, a decline of 23% from the average session volume of 1,136,201 shares. The stock had previously closed at $3.26.

Satellogic Trading Up 1.0%

The firm has a fifty day simple moving average of $3.49 and a 200-day simple moving average of $3.60.

Satellogic (NASDAQ:SATL - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.16) earnings per share for the quarter. The company had revenue of $3.39 million for the quarter.

Insider Activity at Satellogic

In other news, President Matthew Tirman sold 22,860 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $4.16, for a total value of $95,097.60. Following the completion of the transaction, the president owned 101,241 shares in the company, valued at $421,162.56. This represents a 18.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Rick Dunn sold 72,712 shares of the 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 transaction, the chief financial officer owned 193,849 shares of the company's stock, valued at approximately $897,520.87. This trade represents a 27.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 183,892 shares of company stock valued at $777,610 over the last quarter. 63.71% of the stock is owned by insiders.

Institutional Trading of Satellogic

Institutional investors have recently made changes to their positions in the business. ProShare Advisors LLC acquired a new stake in shares of Satellogic in the second quarter valued at about $51,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in Satellogic in the 2nd quarter valued at about $58,000. Jane Street Group LLC bought a new position in Satellogic during the fourth quarter worth about $96,000. Insigneo Advisory Services LLC bought a new stake in Satellogic in the fourth quarter valued at approximately $197,000. Finally, Penserra Capital Management LLC acquired a new stake in shares of Satellogic in the second quarter valued at approximately $380,000. 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.