Satellogic (NASDAQ:SATL) Trading Down 5.5% – Here’s What Happened

Satellogic Inc. (NASDAQ:SATL) fell 5.5% during mid-day trading on Monday . The stock traded as low as $6.70 and last traded at $6.7820. 1,171,959 shares were traded during trading, a decline of 89% from the average session volume of 10,588,386 shares. The stock had previously closed at $7.18.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SATL. Weiss Ratings reissued a “sell (d-)” rating on shares of Satellogic in a research note on Thursday, January 22nd. Northland Securities began coverage on shares of Satellogic in a research note on Wednesday, February 18th. They set an “outperform” rating and a $5.50 target price on the stock. Wall Street Zen raised shares of Satellogic from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Craig Hallum began coverage on shares of Satellogic in a research note on Wednesday, January 21st. They set a “buy” rating and a $5.00 target price on the stock. Finally, Freedom Capital raised shares of Satellogic to a “strong-buy” rating in a research note on Wednesday, March 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $5.50.

Satellogic Stock Up 2.0%

The firm has a market cap of $1.02 billion, a P/E ratio of -28.56 and a beta of 1.06. The stock’s 50 day simple moving average is $5.26 and its 200 day simple moving average is $3.49. The company has a debt-to-equity ratio of 0.93, a quick ratio of 5.02 and a current ratio of 5.12.

Satellogic (NASDAQ:SATL) last announced its quarterly earnings results on Thursday, March 19th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.23. The business had revenue of $6.25 million during the quarter, compared to analyst estimates of $3.83 million. Satellogic had a negative net margin of 27.01% and a negative return on equity of 34.92%. Research analysts anticipate that Satellogic Inc. will post -0.17 EPS for the current year.

Insider Buying and Selling

In other Satellogic news, insider Fitzgerald L. P. Cantor sold 500,000 shares of the business’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $5.01, for a total transaction of $2,505,000.00. Following the completion of the sale, the insider owned 12,356,500 shares in the company, valued at approximately $61,906,065. The trade was a 3.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 51.62% of the company’s stock.

Institutional Trading of Satellogic

A number of hedge funds and other institutional investors have recently bought and sold shares of SATL. Geode Capital Management LLC increased its stake in Satellogic by 1,671.4% during the 2nd quarter. Geode Capital Management LLC now owns 874,487 shares of the company’s stock valued at $3,166,000 after purchasing an additional 825,121 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in shares of Satellogic in the 2nd quarter worth $118,000. Legal & General Group Plc bought a new stake in shares of Satellogic in the 2nd quarter worth $27,000. Rhumbline Advisers bought a new stake in shares of Satellogic in the 2nd quarter worth $351,000. Finally, New York State Common Retirement Fund bought a new stake in shares of Satellogic in the 2nd quarter worth $97,000. 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.