Satellogic (NASDAQ:SATL) Stock Price Up 3.9% – Here’s What Happened

Satellogic Inc. (NASDAQ:SATL)’s stock price rose 3.9% during mid-day trading on Tuesday . The company 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 Stock Up 3.9%

The stock has a fifty day moving average price of $3.51 and a 200-day moving average price of $3.65.

Satellogic (NASDAQ:SATL) last posted its quarterly earnings results on Tuesday, August 12th. The company reported ($0.06) earnings per share for the quarter. The company had revenue of $4.44 million during the quarter.

Insider Buying and Selling

In related news, 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 sale, the chief financial officer directly owned 132,108 shares in the company, valued at $462,378. The trade was a 18.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Matthew Tirman sold 29,073 shares of Satellogic stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $3.45, for a total value 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 trade represents a 22.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. 63.71% of the stock is owned by insiders.

Institutional Trading of Satellogic

Institutional investors have recently modified their holdings of the business. Ameritas Investment Partners Inc. purchased a new stake in shares of Satellogic in the second quarter valued at approximately $25,000. Legal & General Group Plc purchased a new stake in Satellogic during the second quarter worth $27,000. LMR Partners LLP purchased a new stake in Satellogic during the second quarter worth $30,000. ProShare Advisors LLC purchased a new stake in Satellogic during the second quarter worth $51,000. Finally, Police & Firemen s Retirement System of New Jersey purchased a new stake in Satellogic during the second quarter worth $58,000. 17.58% of the stock is currently owned by hedge funds and other institutional investors.

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.