Satellogic (NASDAQ:SATL) Shares Down 10% – Should You Sell?

Satellogic Inc. (NASDAQ:SATL) shares were down 10% on Wednesday . The company traded as low as $4.99 and last traded at $5.0050. 5,459,156 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 10,535,253 shares. The stock had previously closed at $5.56.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SATL shares. Citigroup restated an “outperform” rating on shares of Satellogic in a report on Wednesday, May 13th. Loop Capital set a $4.50 price objective on Satellogic in a research report on Wednesday, March 11th. Freedom Capital lowered Satellogic from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Wall Street Zen raised Satellogic from a “sell” rating to a “hold” rating in a research note on Monday, June 15th. Finally, Northland Securities set a $11.00 price target on Satellogic in a report on Thursday, May 28th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $9.10.

Satellogic Trading Down 9.8%

The stock has a market cap of $743.44 million, a PE ratio of -6.66 and a beta of 1.19. The company’s 50-day moving average price is $7.66 and its 200 day moving average price is $5.00. 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 issued its quarterly earnings data on Tuesday, March 31st. The company reported ($0.84) earnings per share for the quarter. The business had revenue of $6.11 million during the quarter. Satellogic had a negative return on equity of 100.03% and a negative net margin of 443.06%. On average, sell-side analysts forecast that Satellogic Inc. will post -0.11 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Liberty 77 Capital L.P. sold 10,000,000 shares of the business’s stock in a transaction dated 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 sale, the director directly owned 10,000,000 shares in the company, valued at approximately $97,700,000. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Alan Kharsansky sold 87,091 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $8.35, for a total transaction of $727,209.85. Following the completion of the sale, the chief technology officer owned 47,785 shares in the company, valued at approximately $399,004.75. This trade represents a 64.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 38.84% of the company’s stock.

Institutional Investors Weigh In On Satellogic

Institutional investors have recently made changes to their positions in the stock. Abel Hall LLC purchased a new position in shares of Satellogic during the 4th quarter worth approximately $25,000. StoneX Group Inc. acquired a new position in Satellogic during the fourth quarter worth $25,000. Neuberger Berman Group LLC purchased a new position in shares of Satellogic during the fourth quarter worth $25,000. Legal & General Group Plc purchased a new position in shares of Satellogic during the second quarter worth $27,000. Finally, ProShare Advisors LLC grew its stake in shares of Satellogic by 30.2% in the fourth quarter. ProShare Advisors LLC now owns 15,349 shares of the company’s stock valued at $29,000 after buying an additional 3,561 shares in the last quarter. 17.58% of the stock is currently owned by institutional investors and hedge funds.

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.