Satellogic (NASDAQ:SATL) Rating Lowered to Hold at Zacks Research

Satellogic (NASDAQ:SATL) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other analysts also recently weighed in on SATL. Roth Capital reissued a “buy” rating on shares of Satellogic in a research note on Thursday, August 6th. Citigroup reissued an “outperform” rating on shares of Satellogic in a research note on Wednesday, May 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Satellogic in a report on Friday. Wall Street Zen lowered Satellogic from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Finally, Freedom Capital raised Satellogic from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $8.90.

Satellogic Stock Up 7.9%

Shares of NASDAQ SATL opened at $5.75 on Monday. The stock has a market capitalization of $852.38 million, a P/E ratio of -7.01 and a beta of 1.31. Satellogic has a one year low of $1.25 and a one year high of $12.00. The firm’s 50 day simple moving average is $5.12 and its two-hundred day simple moving average is $5.51. The company has a debt-to-equity ratio of 2.65, a current ratio of 2.34 and a quick ratio of 2.31.

Satellogic (NASDAQ:SATL) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.10). Satellogic had a negative net margin of 325.65% and a positive return on equity of 303.84%. The business had revenue of $15.92 million during the quarter, compared to analysts’ expectations of $9.57 million. As a group, analysts expect that Satellogic will post -0.02 EPS for the current fiscal year.

Insider Transactions at Satellogic

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 shares were sold at an average price of $9.77, for a total value of $97,700,000.00. Following the transaction, the director owned 10,000,000 shares in the company, valued at approximately $97,700,000. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction, the chief technology officer directly owned 47,785 shares of the company’s stock, valued at approximately $399,004.75. This trade represents a 64.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 38.84% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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