Royal Bank of Canada Acquires 406,991 Shares of Satellogic Inc. $SATL

Royal Bank of Canada lifted its holdings in shares of Satellogic Inc. (NASDAQ:SATL) by 4,052.9% during the 1st quarter, Holdings Channel reports. The firm owned 417,033 shares of the company’s stock after purchasing an additional 406,991 shares during the period. Royal Bank of Canada’s holdings in Satellogic were worth $2,269,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Alyeska Investment Group L.P. bought a new stake in shares of Satellogic in the fourth quarter valued at approximately $16,830,000. Weiss Asset Management LP bought a new position in Satellogic during the 4th quarter worth $4,053,000. Cantor Fitzgerald L. P. increased its stake in Satellogic by 16.2% during the 4th quarter. Cantor Fitzgerald L. P. now owns 13,380,873 shares of the company’s stock worth $25,022,000 after acquiring an additional 1,863,696 shares during the period. Renaissance Technologies LLC bought a new position in Satellogic during the 1st quarter worth $6,463,000. Finally, Millennium Management LLC acquired a new position in Satellogic in the 4th quarter valued at $2,172,000. 17.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Satellogic

In related news, Director Liberty 77 Capital L.P. sold 10,000,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $9.77, for a total transaction of $97,700,000.00. Following the completion of the sale, the director directly owned 10,000,000 shares in the company, valued at $97,700,000. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 38.84% of the stock is currently owned by corporate insiders.

Satellogic Stock Up 0.2%

Shares of SATL opened at $5.81 on Tuesday. Satellogic Inc. has a one year low of $1.25 and a one year high of $12.00. The company has a market cap of $893.23 million, a P/E ratio of -7.09 and a beta of 1.31. The company has a debt-to-equity ratio of 2.65, a current ratio of 2.34 and a quick ratio of 2.31. The firm has a 50 day simple moving average of $4.99 and a two-hundred day simple moving average of $5.53.

Satellogic (NASDAQ:SATL) last issued its earnings results on Thursday, August 6th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.10). The business had revenue of $15.92 million during the quarter, compared to analyst estimates of $9.57 million. Satellogic had a negative net margin of 325.65% and a positive return on equity of 303.84%. Research analysts forecast that Satellogic Inc. will post -0.02 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on SATL. Northland Securities set a $11.00 target price on Satellogic in a research report on Thursday, May 28th. Roth Capital restated a “buy” rating on shares of Satellogic in a research report on Thursday, August 6th. Wall Street Zen downgraded Satellogic from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Zacks Research cut shares of Satellogic from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. Finally, Cantor Fitzgerald reduced their price objective on shares of Satellogic from $10.00 to $9.00 and set an “overweight” rating on the stock in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.90.

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.