Satellogic (NASDAQ:SATL) Trading Down 10.5% – Here’s Why

Shares of Satellogic Inc. (NASDAQ:SATL) were down 10.5% during mid-day trading on Friday . The company traded as low as $5.66 and last traded at $5.7470. Approximately 6,025,608 shares traded hands during trading, a decline of 41% from the average daily volume of 10,216,254 shares. The stock had previously closed at $6.42.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SATL. Weiss Ratings reissued a “sell (d-)” rating on shares of Satellogic in a research note on Thursday, January 22nd. Northland Securities started coverage on Satellogic in a report on Wednesday, February 18th. They set an “outperform” rating and a $5.50 price target for the company. Wall Street Zen raised Satellogic from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Cantor Fitzgerald set a $7.00 price objective on Satellogic in a research note on Friday, February 20th. Finally, Zacks Research raised shares of Satellogic to a “hold” rating in a report on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Satellogic presently has a consensus rating of “Moderate Buy” and an average target price of $5.50.

Satellogic Price Performance

The stock has a market cap of $820.68 million, a PE ratio of -24.23 and a beta of 1.45. The company has a debt-to-equity ratio of 0.93, a quick ratio of 5.02 and a current ratio of 5.12. The business has a 50 day moving average price of $3.72 and a two-hundred day moving average price of $2.92.

Satellogic (NASDAQ:SATL) last issued its quarterly earnings results on Thursday, March 19th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.23. Satellogic had a negative return on equity of 34.92% and a negative net margin of 27.01%.The company had revenue of $6.25 million during the quarter, compared to the consensus estimate of $3.83 million.

Insider Activity

In other news, insider Fitzgerald L. P. Cantor sold 500,000 shares of Satellogic stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $5.01, for a total transaction of $2,505,000.00. Following the sale, the insider directly owned 12,356,500 shares in the company, valued at $61,906,065. The trade was a 3.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders sold 1,024,373 shares of company stock worth $5,447,676. Company insiders own 51.62% of the company’s stock.

Institutional Trading of Satellogic

Large investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. purchased a new position in Satellogic in the second quarter valued at about $25,000. Abel Hall LLC bought a new stake in shares of Satellogic in the 4th quarter worth approximately $25,000. StoneX Group Inc. bought a new stake in shares of Satellogic in the 4th quarter worth approximately $25,000. Neuberger Berman Group LLC purchased a new position in Satellogic in the fourth quarter valued at approximately $25,000. Finally, Farther Finance Advisors LLC bought a new position in Satellogic during the third quarter valued at $26,000. Hedge funds and other institutional investors own 17.58% of the company’s stock.

Satellogic Company Profile

Satellogic Inc is a NewSpace company specializing in the design, manufacture and operation of a low‐Earth‐orbit (LEO) microsatellite constellation. The company’s satellites capture high‐resolution multispectral imagery, enabling detailed monitoring of agricultural, forestry, maritime, energy and infrastructure assets. Satellogic’s vertically integrated model covers end‐to‐end capabilities, from satellite development and deployment to data processing and analytics, allowing clients to access imagery and insights on demand.

Key offerings include geospatial data products, analytics services and software tools that leverage machine learning algorithms to interpret changes on Earth’s surface.