Satellogic (NASDAQ:SATL) Announces Earnings Results, Misses Estimates By $0.79 EPS

Satellogic (NASDAQ:SATL) issued its quarterly earnings results on Monday. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.79), FiscalAI reports. The business had revenue of $6.11 million for the quarter, compared to analysts’ expectations of $5.27 million. Satellogic had a negative return on equity of 34.92% and a negative net margin of 27.01%.

Satellogic Trading Up 14.9%

Satellogic stock traded up $1.13 during midday trading on Monday, reaching $8.70. 16,457,900 shares of the stock traded hands, compared to its average volume of 10,612,143. The firm has a market cap of $1.24 billion, a PE ratio of -34.80 and a beta of 1.06. 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 50-day simple moving average of $5.33 and a two-hundred day simple moving average of $3.52. Satellogic has a 12-month low of $1.25 and a 12-month high of $8.90.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Freedom Capital lowered shares of Satellogic from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Northland Securities initiated coverage on Satellogic in a report on Wednesday, February 18th. They issued an “outperform” rating and a $5.50 price objective on the stock. Craig Hallum started coverage on Satellogic in a research note on Wednesday, January 21st. They set a “buy” rating and a $5.00 target price for the company. Zacks Research raised Satellogic to a “hold” rating in a research note on Thursday, February 19th. Finally, Wall Street Zen cut Satellogic from a “hold” rating to a “sell” rating in a report on Saturday. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $6.40.

Insider Buying and Selling

In other news, insider Fitzgerald L. P. Cantor sold 500,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider directly owned 12,356,500 shares of the company’s stock, valued at approximately $61,906,065. The trade was a 3.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 51.62% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Geode Capital Management LLC lifted its holdings in shares of Satellogic by 1,671.4% in the 2nd quarter. Geode Capital Management LLC now owns 874,487 shares of the company’s stock valued at $3,166,000 after purchasing an additional 825,121 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of Satellogic in the second quarter valued at approximately $118,000. Legal & General Group Plc purchased a new position in shares of Satellogic during the second quarter worth approximately $27,000. Rhumbline Advisers acquired a new position in shares of Satellogic in the 2nd quarter valued at $351,000. Finally, New York State Common Retirement Fund purchased a new stake in Satellogic in the 2nd quarter valued at $97,000. Institutional investors and hedge funds 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.