Satellogic Inc. [SATL] moved down -4.00: Why It’s Important

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Satellogic Inc. [NASDAQ: SATL] closed the trading session at $8.64 on 05/04/22. The day’s price range saw the stock hit a low of $8.56, while the highest price level was $10.92. The company report on May 4, 2022 that Satellogic Announces Multiple Launch Agreement With SpaceX for Its Next 68 Sub-Meter Resolution Earth Observation Satellites.

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Strategic agreement positions Satellogic to achieve weekly remapping of the entire surface of the Earth in 2023 and over 20 daily revisits of any point of interest, unlocking countless commercial, sustainability, and government applications.

Satellogic Inc. (NASDAQ: SATL), a leader in sub-meter resolution Earth Observation (“EO”) data collection, announced today that it has signed a new Multiple Launch Agreement (“MLA”) with SpaceX reserving launch capacity for its next 68 satellites. This new MLA follows the current MLA covering 2022 launches, and confirms that SpaceX continues to be Satellogic’s preferred vendor for rideshare missions, meeting the capacity demands of Satellogic’s constellation roadmap and providing shorter periods between satellite development and deployment.

The stocks have a year to date performance of -10.93 percent and weekly performance of -2.92 percent. The stock has been moved at -13.08 percent over the last six months. The stock has performed -6.59 percent around the most recent 30 days and changed 51.31 percent over the most recent 3-months.

If compared to the average trading volume of 82.51K shares, SATL reached to a volume of 6947618 in the most recent trading day, which is why market watchdogs consider the stock to be active.

SATL stock trade performance evaluation

Satellogic Inc. [SATL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.92. With this latest performance, SATL shares dropped by -6.59% in over the last four-week period, additionally sinking by -13.08% over the last 6 months – not to mention a drop of -11.84% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SATL stock in for the last two-week period is set at 48.46, with the RSI for the last a single of trading hit 42.07, and the three-weeks RSI is set at 50.18 for Satellogic Inc. [SATL]. The present Moving Average for the last 50 days of trading for this stock 8.16, while it was recorded at 9.02 for the last single week of trading.

Satellogic Inc. [SATL]: An insightful look at the core fundamentals

Return on Equity for this stock declined to -175.79, with Return on Assets sitting at -9.05.

Satellogic Inc. [SATL]: Insider Ownership positions

There are presently around $165 million, or 67.10% of SATL stock, in the hands of institutional investors. The top three institutional holders of SATL stocks are: GLAZER CAPITAL, LLC with ownership of 1,812,939, which is approximately 46.413% of the company’s market cap and around 4.05% of the total institutional ownership; WEISS ASSET MANAGEMENT LP, holding 1,519,587 shares of the stock with an approximate value of $13.68 million in SATL stocks shares; and CITADEL ADVISORS LLC, currently with $12.7 million in SATL stock with ownership of nearly -0.258% of the company’s market capitalization.

26 institutional holders increased their position in Satellogic Inc. [NASDAQ:SATL] by around 3,792,685 shares. Additionally, 39 investors decreased positions by around 6,196,885 shares, while 25 investors held positions by with 8,320,886 shares. The mentioned changes placed institutional holdings at 18,310,456 shares, according to the latest SEC report filing. SATL stock had 13 new institutional investments in for a total of 2,403,940 shares, while 31 institutional investors sold positions of 5,939,080 shares during the same period.