Satellogic Inc. (NASDAQ:SATL) Sees Large Growth in Short Interest

Satellogic Inc. (NASDAQ:SATL) saw a significant increase in short interest in December. As of December 15th, there was short interest totalling 1,620,000 shares, an increase of 408.6% from the November 30th total of 318,500 shares. Based on an average daily volume of 622,600 shares, the days-to-cover ratio is presently 2.6 days. Approximately 2.8% of the company’s shares are short sold.

Satellogic Stock Down 5.4 %

NASDAQ:SATL traded down $0.21 on Friday, reaching $3.68. The company’s stock had a trading volume of 1,364,185 shares, compared to its average volume of 212,960. Satellogic has a 1-year low of $0.72 and a 1-year high of $5.49. The business’s 50-day moving average price is $2.03 and its two-hundred day moving average price is $1.39.

Hedge Funds Weigh In On Satellogic

Institutional investors and hedge funds have recently modified their holdings of the business. Ground Swell Capital LLC acquired a new stake in shares of Satellogic in the second quarter valued at approximately $26,000. Joel Isaacson & Co. LLC bought a new position in Satellogic in the third quarter valued at $27,000. Finally, MSA Advisors LLC bought a new position in Satellogic in the second quarter valued at $27,000. 17.58% of the stock is currently owned by institutional investors and hedge funds.

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.