Satellogic (NASDAQ:SATL) Shares Down 8.2% – Here’s What Happened

Shares of Satellogic Inc. (NASDAQ:SATL) dropped 8.2% during mid-day trading on Wednesday . The company traded as low as $3.96 and last traded at $3.9550. 3,349,472 shares were traded during mid-day trading, a decline of 67% from the average session volume of 10,108,472 shares. The stock had previously closed at $4.31.

Wall Street Analyst Weigh In

A number of research analysts have commented on SATL shares. Roth Capital upped their price target on Satellogic from $10.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Freedom Capital raised shares of Satellogic from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 29th. Citigroup restated an “outperform” rating on shares of Satellogic in a report on Wednesday, May 13th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Satellogic in a research report on Monday, June 15th. Finally, Wall Street Zen raised shares of Satellogic from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Satellogic presently has a consensus rating of “Buy” and a consensus price target of $9.10.

Satellogic Stock Performance

The business has a fifty day simple moving average of $6.97 and a 200-day simple moving average of $5.34. The company has a quick ratio of 2.41, a current ratio of 2.44 and a debt-to-equity ratio of 0.93. The firm has a market cap of $529.22 million, a P/E ratio of -4.76 and a beta of 1.26.

Satellogic (NASDAQ:SATL) last issued its quarterly earnings results on Tuesday, March 31st. The company reported ($0.84) EPS for the quarter. Satellogic had a negative return on equity of 100.03% and a negative net margin of 443.06%.The company had revenue of $6.11 million during the quarter. On average, sell-side analysts predict that Satellogic Inc. will post -0.11 EPS for the current fiscal year.

Insider Buying and Selling

In other Satellogic news, Director Liberty 77 Capital L.P. sold 10,000,000 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $9.77, for a total transaction of $97,700,000.00. Following the completion of the sale, the director directly owned 10,000,000 shares in the company, valued at $97,700,000. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Alan Kharsansky sold 87,091 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $8.35, for a total transaction of $727,209.85. Following the sale, the chief technology officer directly owned 47,785 shares of the company’s stock, valued at $399,004.75. The trade was a 64.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 38.84% of the company’s stock.

Institutional Investors Weigh In On Satellogic

Hedge funds have recently modified their holdings of the business. Abel Hall LLC purchased a new position in Satellogic during the fourth quarter valued at approximately $25,000. StoneX Group Inc. bought a new stake in Satellogic during the fourth quarter valued at about $25,000. Neuberger Berman Group LLC bought a new position in shares of Satellogic in the fourth quarter worth about $25,000. Legal & General Group Plc purchased a new stake in shares of Satellogic during the second quarter worth about $27,000. Finally, ProShare Advisors LLC lifted its holdings in Satellogic by 30.2% in the 4th quarter. ProShare Advisors LLC now owns 15,349 shares of the company’s stock worth $29,000 after purchasing an additional 3,561 shares in the last quarter. 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.