Satellogic (NASDAQ:SATL) Shares Gap Down – Should You Sell?

Satellogic Inc. (NASDAQ:SATL) shares gapped down before the market opened on Wednesday . The stock had previously closed at $10.74, but opened at $9.64. Satellogic shares last traded at $9.5030, with a volume of 7,358,880 shares traded.

Analyst Upgrades and Downgrades

SATL has been the topic of several analyst reports. Zacks Research raised Satellogic to a “hold” rating in a research report on Thursday, February 19th. Northland Securities set a $11.00 price target on Satellogic in a research report on Thursday. Roth Mkm increased their price target on Satellogic from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday. Cantor Fitzgerald increased their price target on Satellogic from $7.00 to $10.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Satellogic in a research report on Wednesday, May 13th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $9.10.

Satellogic Price Performance

The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of -13.13 and a beta of 1.06. The company has a current ratio of 2.44, a quick ratio of 2.41 and a debt-to-equity ratio of 0.93. The stock has a 50-day moving average price of $7.21 and a 200 day moving average price of $4.30.

Satellogic (NASDAQ:SATL) last issued its quarterly earnings results on Tuesday, March 31st. The company reported ($0.84) earnings per share (EPS) for the quarter. The business had revenue of $6.11 million for the quarter. Satellogic had a negative return on equity of 100.03% and a negative net margin of 443.06%. As a group, equities research analysts expect that Satellogic Inc. will post -0.11 earnings per share for the current year.

Insiders Place Their Bets

In other Satellogic news, CTO Alan Kharsansky sold 87,091 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $8.35, for a total transaction of $727,209.85. Following the transaction, the chief technology officer owned 47,785 shares in the company, valued at approximately $399,004.75. This represents a 64.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Fitzgerald L. P. Cantor sold 500,000 shares of the stock in a transaction that occurred on 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 $61,906,065. This represents a 3.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 10,587,091 shares of company stock worth $100,932,210. 51.62% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Satellogic

A number of hedge funds have recently bought and sold shares of the business. Cantor Fitzgerald L. P. boosted its position in Satellogic by 16.2% during the fourth quarter. Cantor Fitzgerald L. P. now owns 13,380,873 shares of the company’s stock worth $25,022,000 after purchasing an additional 1,863,696 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in Satellogic in the 4th quarter valued at about $16,830,000. Vanguard Group Inc. lifted its stake in Satellogic by 44.4% in the 3rd quarter. Vanguard Group Inc. now owns 3,262,216 shares of the company’s stock valued at $10,700,000 after buying an additional 1,002,400 shares in the last quarter. Weiss Asset Management LP purchased a new position in Satellogic in the 4th quarter valued at about $4,053,000. Finally, Geode Capital Management LLC lifted its stake in Satellogic by 34.5% in the 4th quarter. Geode Capital Management LLC now owns 1,807,737 shares of the company’s stock valued at $3,381,000 after buying an additional 463,811 shares in the last quarter. 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.