Satellogic (NASDAQ:SATL) Shares Gap Down to $5.04

Satellogic Inc. (NASDAQ:SATLGet Rating) gapped down before the market opened on Tuesday . The stock had previously closed at $5.04, but opened at $4.84. Satellogic shares last traded at $4.99, with a volume of 767 shares trading hands.

Separately, Piper Sandler started coverage on Satellogic in a report on Tuesday, May 10th. They set an “underweight” rating and a $5.00 price objective on the stock.

The business’s fifty day moving average is $6.43.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Alyeska Investment Group L.P. acquired a new stake in Satellogic in the 1st quarter valued at approximately $6,420,000. UBS Group AG bought a new stake in shares of Satellogic in the 1st quarter worth approximately $68,000. Finally, Cantor Fitzgerald L. P. bought a new stake in shares of Satellogic in the 1st quarter worth approximately $109,387,000.

About Satellogic (NASDAQ:SATL)

Satellogic Inc builds and operates nano satellites for commercial-grade Earth observation in real-time. It offers data streams that are used in decision-making processes for various branches of government, organizations, businesses, and individuals. Its satellites are used for applications in agriculture, pipeline monitoring, critical infrastructure monitoring, disaster response, illegal logging, border patrol, port security, and other applications.

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