Satellogic (NASDAQ:SATL) Stock Price Up 3.7% - Still a Buy?

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) rose 3.7% on Monday . The company traded as high as $3.43 and last traded at $3.38. Approximately 873,030 shares changed hands during trading, a decline of 23% from the average daily volume of 1,136,201 shares. The stock had previously closed at $3.26.

Satellogic Price Performance

The company's 50-day moving average is $3.51 and its 200 day moving average is $3.59.

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

Insider Transactions at Satellogic

In related news, President Matthew Tirman sold 22,860 shares of Satellogic stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $4.16, for a total transaction of $95,097.60. Following the completion of the sale, the president owned 101,241 shares of the company's stock, valued at $421,162.56. The trade was a 18.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Rick Dunn sold 72,712 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $4.63, for a total transaction of $336,656.56. Following the completion of the transaction, the chief financial officer owned 193,849 shares in the company, 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 183,892 shares of company stock worth $777,610 over the last three months. Corporate insiders own 63.71% of the company's stock.

Institutional Trading of Satellogic

A number of hedge funds have recently modified their holdings of the stock. Jane Street Group LLC purchased a new position in Satellogic during the fourth quarter valued at approximately $96,000. Insigneo Advisory Services LLC purchased a new position in shares of Satellogic during the 4th quarter valued at approximately $197,000. Finally, Penserra Capital Management LLC acquired a new position in shares of Satellogic in the 2nd quarter valued at $380,000. Hedge funds and other institutional investors own 17.58% of the company's stock.

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.