Satellogic (NASDAQ:SATL) Stock Price Down 4.2% – Here’s What Happened

Satellogic Inc. (NASDAQ:SATL)’s stock price traded down 4.2% on Tuesday . The stock traded as low as $6.69 and last traded at $6.6960. 1,143,385 shares traded hands during trading, a decline of 89% from the average session volume of 10,520,494 shares. The stock had previously closed at $6.99.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Northland Securities set a $11.00 price target on Satellogic in a report on Thursday, May 28th. Wall Street Zen cut shares of Satellogic from a “hold” rating to a “sell” rating in a research report on Sunday. Weiss Ratings raised shares of Satellogic from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. Freedom Capital cut shares of Satellogic from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Finally, Cantor Fitzgerald boosted their target price on shares of Satellogic from $7.00 to $10.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Satellogic has an average rating of “Moderate Buy” and a consensus target price of $9.10.

Satellogic Price Performance

The company’s 50-day moving average is $7.69 and its two-hundred day moving average is $4.63. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.44 and a quick ratio of 2.41. The firm has a market cap of $925.78 million, a P/E ratio of -8.29 and a beta of 1.19.

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

Insider Activity

In other news, Director Liberty 77 Capital L.P. sold 10,000,000 shares of Satellogic stock in a transaction on Tuesday, May 26th. The stock was 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. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Alan Kharsansky sold 87,091 shares of Satellogic stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $8.35, for a total value of $727,209.85. Following the completion of the transaction, the chief technology officer owned 47,785 shares in the company, valued at approximately $399,004.75. The trade was a 64.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 10,587,091 shares of company stock worth $100,932,210. Insiders own 38.84% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Halter Ferguson Financial Inc. grew its position in Satellogic by 116.0% in the 4th quarter. Halter Ferguson Financial Inc. now owns 839,832 shares of the company’s stock valued at $1,570,000 after purchasing an additional 450,957 shares during the period. Thompson Davis & CO. Inc. purchased a new position in Satellogic during the 4th quarter worth $41,000. SG Americas Securities LLC purchased a new position in Satellogic during the 4th quarter worth $46,000. GSA Capital Partners LLP purchased a new position in Satellogic during the 3rd quarter worth $59,000. Finally, Penserra Capital Management LLC boosted its holdings in Satellogic by 8.7% during the 3rd quarter. Penserra Capital Management LLC now owns 114,184 shares of the company’s stock worth $374,000 after acquiring an additional 9,111 shares during the last quarter. Institutional investors and hedge funds 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.