Satellogic (NASDAQ:SATL) Downgraded to “Sell” Rating by Wall Street Zen

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

A number of other analysts also recently commented on SATL. Weiss Ratings raised Satellogic from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. Roth Capital raised their target price on Satellogic from $10.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Zacks Research upgraded Satellogic from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 10th. Freedom Capital raised shares of Satellogic from a “hold” rating to a “strong-buy” rating in a report on Monday, June 29th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Satellogic in a report on Monday, June 15th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $9.10.

Satellogic Stock Down 5.8%

Satellogic stock opened at $3.59 on Friday. Satellogic has a fifty-two week low of $1.25 and a fifty-two week high of $12.00. The stock has a market cap of $532.18 million, a PE ratio of -4.79 and a beta of 1.26. The firm’s 50-day simple moving average is $6.41 and its 200 day simple moving average is $5.39. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.41 and a current ratio of 2.44.

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

Insiders Place Their Bets

In other Satellogic news, CTO Alan Kharsansky sold 87,091 shares of the stock in a transaction 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 sale, the chief technology officer owned 47,785 shares in the company, valued at $399,004.75. This represents a 64.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Liberty 77 Capital L.P. sold 10,000,000 shares of Satellogic stock in a transaction on 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 completion of the transaction, the director owned 10,000,000 shares of the company’s stock, valued at approximately $97,700,000. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 38.84% of the company’s stock.

Institutional Investors Weigh In On Satellogic

Several hedge funds and other institutional investors have recently modified their holdings of SATL. Cantor Fitzgerald L. P. boosted its position in shares of Satellogic by 16.2% in the fourth quarter. Cantor Fitzgerald L. P. now owns 13,380,873 shares of the company’s stock valued at $25,022,000 after acquiring an additional 1,863,696 shares during the period. Alyeska Investment Group L.P. purchased a new stake in Satellogic in the 4th quarter worth approximately $16,830,000. Vanguard Group Inc. boosted its holdings 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 purchasing an additional 1,002,400 shares during the period. Weiss Asset Management LP bought a new position in Satellogic in the 4th quarter valued at $4,053,000. Finally, Geode Capital Management LLC grew its position in shares of Satellogic by 34.5% during the 4th 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 in the last quarter. 17.58% of the stock is currently owned by institutional investors.

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.