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

Satellogic Inc. (NASDAQ:SATL) saw a large increase in short interest in the month of 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. Currently, 2.8% of the shares of the company are sold short.

Satellogic Trading Up 5.8 %

Shares of Satellogic stock traded up $0.19 on Thursday, reaching $3.48. 1,116,382 shares of the company were exchanged, compared to its average volume of 206,510. The company has a 50-day moving average of $1.92 and a 200 day moving average of $1.35. Satellogic has a one year low of $0.72 and a one year high of $5.49.

Hedge Funds Weigh In On Satellogic

A number of hedge funds and other institutional investors have recently modified their holdings of SATL. Ground Swell Capital LLC bought a new stake in Satellogic during the second quarter valued at approximately $26,000. MSA Advisors LLC purchased a new position in shares of Satellogic in the 2nd quarter worth about $27,000. Finally, Joel Isaacson & Co. LLC purchased a new stake in Satellogic in the third quarter worth approximately $27,000. Hedge funds and other 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.