Satellogic (NASDAQ:SATL) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Satellogic (NASDAQ:SATL) from a hold rating to a sell rating in a report released on Saturday.

Several other equities research analysts have also commented on the stock. Northland Securities started coverage on shares of Satellogic in a research note on Wednesday, February 18th. They set an “outperform” rating and a $5.50 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Satellogic in a report on Thursday, January 22nd. Cantor Fitzgerald set a $7.00 price target on Satellogic in a research report on Friday. Finally, Craig Hallum assumed coverage on Satellogic in a research report on Wednesday, January 21st. They set a “buy” rating and a $5.00 price objective for the company. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $5.83.

Satellogic Trading Down 9.8%

Shares of SATL stock opened at $3.21 on Friday. The company’s fifty day moving average price is $3.16 and its 200-day moving average price is $2.90. The stock has a market cap of $434.86 million, a PE ratio of -13.38 and a beta of 1.38. Satellogic has a 12 month low of $1.25 and a 12 month high of $5.93.

Insider Transactions at Satellogic

In related news, major shareholder Fitzgerald L. P. Cantor sold 388,827 shares of the company’s stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $5.63, for a total value of $2,189,096.01. Following the transaction, the insider directly owned 12,862,075 shares of the company’s stock, valued at approximately $72,413,482.25. This represents a 2.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders sold 524,373 shares of company stock valued at $2,942,676. Corporate insiders own 51.62% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Cantor Fitzgerald L. P. boosted its position in shares of Satellogic by 16.2% during the fourth quarter. Cantor Fitzgerald L. P. now owns 13,380,873 shares of the company’s stock valued at $25,022,000 after buying an additional 1,863,696 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in Satellogic during the 4th quarter valued at about $16,830,000. Vanguard Group Inc. boosted its holdings in shares of Satellogic by 44.4% during the 3rd 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 during the last quarter. Weiss Asset Management LP bought a new stake in shares of Satellogic in the fourth quarter worth approximately $4,053,000. Finally, Geode Capital Management LLC raised its holdings in shares of Satellogic by 34.5% during the fourth quarter. Geode Capital Management LLC now owns 1,807,737 shares of the company’s stock valued at $3,381,000 after purchasing an additional 463,811 shares during the last quarter. Hedge funds and other institutional investors own 17.58% of the company’s stock.

About Satellogic

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.