Satellogic (NASDAQ:SATL) Rating Lowered to Hold at Freedom Capital

Satellogic (NASDAQ:SATL) was downgraded by equities researchers at Freedom Capital from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other brokerages also recently weighed in on SATL. Northland Securities started coverage on shares of Satellogic in a research note on Wednesday, February 18th. They set an “outperform” rating and a $5.50 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Satellogic in a research note on Thursday, January 22nd. Cantor Fitzgerald set a $7.00 price target on Satellogic in a report on Friday, February 20th. Craig Hallum began coverage on Satellogic in a report on Wednesday, January 21st. They set a “buy” rating and a $5.00 price target on the stock. Finally, Zacks Research upgraded Satellogic to a “hold” rating in a report on Thursday, February 19th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $5.50.

Satellogic Price Performance

SATL stock opened at $6.62 on Wednesday. The company has a current ratio of 5.12, a quick ratio of 5.02 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $947.06 million, a PE ratio of -26.48 and a beta of 1.06. Satellogic has a 12-month low of $1.25 and a 12-month high of $8.35. The business’s fifty day moving average price is $5.33 and its 200 day moving average price is $3.52.

Satellogic (NASDAQ:SATL) last announced its earnings results on Thursday, March 19th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.23. Satellogic had a negative net margin of 27.01% and a negative return on equity of 34.92%. The firm had revenue of $6.25 million for the quarter, compared to the consensus estimate of $3.83 million. On average, sell-side analysts anticipate that Satellogic will post -0.17 EPS for the current year.

Insider Activity at Satellogic

In other news, insider Fitzgerald L. P. Cantor sold 500,000 shares of the stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $5.01, for a total value of $2,505,000.00. Following the transaction, the insider owned 12,356,500 shares in the company, valued at approximately $61,906,065. This represents a 3.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 51.62% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SATL. Abel Hall LLC purchased a new position in shares of Satellogic in the 4th quarter valued at about $25,000. StoneX Group Inc. purchased a new position in shares of Satellogic in the 4th quarter valued at $25,000. Neuberger Berman Group LLC purchased a new position in shares of Satellogic in the 4th quarter valued at $25,000. Farther Finance Advisors LLC purchased a new position in shares of Satellogic in the 3rd quarter valued at $26,000. Finally, Legal & General Group Plc purchased a new position in shares of Satellogic in the 2nd quarter valued at $27,000. 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.