Satellogic (NASDAQ:SATL) Trading Up 11.3% - Here's What Happened

Satellogic Inc. (NASDAQ:SATL - Get Free Report)'s share price shot up 11.3% during mid-day trading on Wednesday . The company traded as high as $4.06 and last traded at $4.04. 5,023,798 shares were traded during trading, an increase of 108% from the average session volume of 2,420,814 shares. The stock had previously closed at $3.63.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of Satellogic in a research report on Wednesday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of "Sell".

Satellogic Price Performance

The business has a 50 day simple moving average of $3.56 and a 200 day simple moving average of $3.65.

Satellogic (NASDAQ:SATL - Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported ($0.06) EPS for the quarter. The business had revenue of $4.44 million during the quarter.

Insider Buying and Selling at Satellogic

In other news, President Matthew Tirman sold 29,073 shares of the company'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 completion of the sale, the president owned 99,162 shares in the company, valued at approximately $342,108.90. This represents a 22.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Rick Dunn sold 22,692 shares of the company's stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $3.80, for a total value of $86,229.60. Following the sale, the chief financial officer owned 134,451 shares of the company's stock, valued at approximately $510,913.80. This trade represents a 14.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,051,895 shares of company stock worth $4,044,419 over the last 90 days. 63.71% of the stock is currently owned by corporate insiders.

Institutional Trading of Satellogic

Large investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. bought a new stake in shares of Satellogic during the 2nd quarter worth about $25,000. Legal & General Group Plc bought a new stake in shares of Satellogic during the 2nd quarter worth about $27,000. LMR Partners LLP bought a new stake in shares of Satellogic during the 2nd quarter worth about $30,000. ProShare Advisors LLC bought a new stake in Satellogic during the 2nd quarter valued at approximately $51,000. Finally, Police & Firemen s Retirement System of New Jersey bought a new stake in Satellogic during the 2nd quarter valued at approximately $58,000. 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.

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