Satellogic (NASDAQ:SATL) Stock Price Up 3.9% - Here's What Happened

Key Points

• Satellogic Inc. shares rose by 3.9% to a trading price of $3.75 during mid-day trading, with a notable increase in volume.
• The company's latest earnings report showed a loss of ($0.06) earnings per share, despite generating $4.44 million in revenue for the quarter.
• Geode Capital Management significantly increased its stake by 1,671.4%, acquiring 825,121 shares, indicating rising institutional interest in Satellogic.

Satellogic Inc. (NASDAQ:SATL - Get Free Report) shares rose 3.9% during mid-day trading on Tuesday . The stock traded as high as $3.78 and last traded at $3.75. Approximately 1,724,614 shares changed hands during mid-day trading, an increase of 21% from the average daily volume of 1,423,053 shares. The stock had previously closed at $3.61.

Satellogic Price Performance

The firm has a 50 day moving average price of $3.51 and a 200-day moving average price of $3.65.

Satellogic (NASDAQ:SATL - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.06) earnings per share (EPS) for the quarter. The firm had revenue of $4.44 million during the quarter.

Insider Activity

In other news, President Matthew Tirman sold 29,073 shares of the firm's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $3.45, for a total transaction of $100,301.85. Following the sale, the president owned 99,162 shares of the company's stock, valued at approximately $342,108.90. This trade represents a 22.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Rick Dunn sold 30,009 shares of Satellogic stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $3.50, for a total value of $105,031.50. Following the transaction, the chief financial officer directly owned 132,108 shares in the company, valued at approximately $462,378. This trade represents a 18.51% decrease in their position. The disclosure for this sale can be found here. 63.71% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in Satellogic by 1,671.4% during the second quarter. Geode Capital Management LLC now owns 874,487 shares of the company's stock worth $3,166,000 after buying an additional 825,121 shares during the period. Penserra Capital Management LLC acquired a new position in shares of Satellogic in the second quarter valued at approximately $380,000. Rhumbline Advisers acquired a new position in shares of Satellogic in the second quarter valued at approximately $351,000. Invesco Ltd. acquired a new position in shares of Satellogic in the second quarter valued at approximately $146,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Satellogic in the second quarter valued at approximately $137,000. Institutional investors and hedge funds 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.

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