Short Interest in Satellogic Inc. (NASDAQ:SATL) Increases By 48.9%

Satellogic Inc. (NASDAQ:SATL) saw a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 2,040,000 shares, a growth of 48.9% from the May 15th total of 1,370,000 shares. Approximately 4.3% of the shares of the company are sold short. Based on an average daily volume of 1,200,000 shares, the days-to-cover ratio is currently 1.7 days.

Insider Buying and Selling

In other news, CFO Rick Dunn sold 58,311 shares of Satellogic stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $4.13, for a total value of $240,824.43. Following the sale, the chief financial officer now owns 135,538 shares of the company’s stock, valued at $559,771.94. The trade was a 30.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Matthew Tirman sold 22,860 shares of the 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 transaction, the president now directly owns 101,241 shares of the company’s stock, valued at $421,162.56. This represents a 18.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 153,883 shares of company stock valued at $672,579 over the last three months. 63.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Satellogic

Hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new position in shares of Satellogic during the 4th quarter worth approximately $68,000. Jane Street Group LLC purchased a new stake in shares of Satellogic in the fourth quarter valued at $96,000. Insigneo Advisory Services LLC acquired a new stake in shares of Satellogic during the fourth quarter valued at $197,000. Finally, Liberty 77 Capital L.P. acquired a new stake in shares of Satellogic during the fourth quarter valued at $57,000,000. 17.58% of the stock is currently owned by hedge funds and other institutional investors.

Satellogic Price Performance

SATL stock opened at $3.42 on Tuesday. The company’s 50-day moving average price is $3.85 and its 200 day moving average price is $3.53. Satellogic has a 52 week low of $0.72 and a 52 week high of $5.49.

Satellogic (NASDAQ:SATL) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($0.16) earnings per share for the quarter. The company had revenue of $3.39 million during the quarter.

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.