Satellogic (NASDAQ:SATL) Trading Down 7.7% – What’s Next?

Satellogic Inc. (NASDAQ:SATL) traded down 7.7% on Friday . The stock traded as low as $5.03 and last traded at $5.0880. 1,401,543 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 8,798,070 shares. The stock had previously closed at $5.51.

Analyst Upgrades and Downgrades

Several analysts have weighed in on SATL shares. Cantor Fitzgerald dropped their target price on shares of Satellogic from $10.00 to $9.00 and set an “overweight” rating on the stock in a research report on Thursday, August 6th. Northland Securities set a $11.00 price target on Satellogic in a research note on Thursday, May 28th. Wall Street Zen downgraded shares of Satellogic from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Roth Capital reiterated a “buy” rating on shares of Satellogic in a report on Thursday, August 6th. Finally, Zacks Research cut Satellogic from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $8.90.

Satellogic Stock Performance

The stock’s 50-day moving average is $4.71 and its 200-day moving average is $5.78. The stock has a market cap of $772.54 million, a price-to-earnings ratio of -6.12 and a beta of 1.36. 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 released its quarterly earnings data on Thursday, August 6th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.10). The firm had revenue of $15.92 million during the quarter, compared to analysts’ expectations of $9.57 million. Satellogic had a positive return on equity of 303.84% and a negative net margin of 325.65%. Analysts anticipate that Satellogic Inc. will post -0.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Satellogic

Large investors have recently bought and sold shares of the business. Tidal Investments LLC acquired a new stake in Satellogic in the 2nd quarter valued at approximately $11,613,000. Tema ETFs LLC acquired a new stake in Satellogic during the 2nd quarter worth about $8,640,000. Renaissance Technologies LLC acquired a new position in shares of Satellogic during the 1st quarter valued at about $6,463,000. Royal Bank of Canada increased its holdings in shares of Satellogic by 4,052.9% during the 1st quarter. Royal Bank of Canada now owns 417,033 shares of the company’s stock worth $2,269,000 after purchasing an additional 406,991 shares during the period. Finally, Sei Investments Co. acquired a new position in Satellogic in the first quarter worth about $1,607,000. Institutional investors own 17.58% of the company’s stock.

About Satellogic

Satellogic Inc (NASDAQ:SATL) is a geospatial intelligence company that designs, builds and operates a constellation of Earth-observation satellites. The company collects high-resolution multispectral imagery and other remote-sensing data intended to help customers monitor changes on the ground and make more informed decisions.

Satellogic provides satellite imagery, tasking and data-access services through its platform, which is designed to support frequent observation of locations worldwide.