Fitzgerald Cantor Sells 500,000 Shares of Satellogic (NASDAQ:SATL) Stock

Satellogic Inc. (NASDAQ:SATL) insider Fitzgerald Cantor sold 500,000 shares of the business’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $5.01, for a total value of $2,505,000.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Satellogic Stock Up 3.2%

Satellogic stock opened at $6.42 on Friday. Satellogic Inc. has a fifty-two week low of $1.25 and a fifty-two week high of $6.84. The firm has a market capitalization of $869.72 million, a price-to-earnings ratio of -25.68 and a beta of 1.45. The stock’s fifty day moving average is $3.72 and its two-hundred day moving average is $2.92. 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 released its quarterly earnings results on Thursday, March 19th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.23. Satellogic had a negative return on equity of 34.92% and a negative net margin of 27.01%.The business had revenue of $6.25 million during the quarter, compared to the consensus estimate of $3.83 million.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SATL. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Satellogic in a report on Thursday, January 22nd. Craig Hallum initiated coverage on shares of Satellogic in a research note on Wednesday, January 21st. They set a “buy” rating and a $5.00 price objective for the company. Northland Securities assumed coverage on Satellogic in a research note on Wednesday, February 18th. They issued an “outperform” rating and a $5.50 target price on the stock. Zacks Research upgraded Satellogic to a “hold” rating in a report on Thursday, February 19th. Finally, Loop Capital set a $4.50 price target on Satellogic in a research report on Wednesday, March 11th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $5.50.

Institutional Investors Weigh In On Satellogic

Hedge funds have recently modified their holdings of the stock. ProShare Advisors LLC purchased a new stake in Satellogic in the second quarter valued at approximately $51,000. Geode Capital Management LLC raised its stake in Satellogic by 1,671.4% during the second quarter. Geode Capital Management LLC now owns 874,487 shares of the company’s stock worth $3,166,000 after purchasing an additional 825,121 shares during the period. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Satellogic in the 2nd quarter valued at $58,000. Intech Investment Management LLC purchased a new stake in shares of Satellogic during the 2nd quarter valued at $120,000. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Satellogic during the 2nd quarter valued at $118,000. 17.58% of the stock is 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.