Satellogic (NASDAQ:SATL) Shares Gap Down Following Insider Selling

Satellogic Inc. (NASDAQ:SATL)’s share price gapped down before the market opened on Thursday following insider selling activity. The stock had previously closed at $6.22, but opened at $5.75. Satellogic shares last traded at $6.2030, with a volume of 4,575,099 shares changing hands.

Specifically, insider Fitzgerald L. P. Cantor sold 500,000 shares of Satellogic 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 transaction, the insider owned 12,356,500 shares in the company, valued at $61,906,065. This trade represents a 3.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Wall Street Analyst Weigh In

SATL has been the subject of a number of recent research reports. Craig Hallum assumed coverage on shares of Satellogic in a research report on Wednesday, January 21st. They set a “buy” rating and a $5.00 price objective for the company. Wall Street Zen upgraded Satellogic from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Freedom Capital raised Satellogic to a “strong-buy” rating in a report on Wednesday, March 11th. Loop Capital set a $4.50 price target on Satellogic in a research report on Wednesday, March 11th. Finally, Northland Securities assumed coverage on Satellogic in a research report on Wednesday, February 18th. They issued an “outperform” rating and a $5.50 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Satellogic presently has an average rating of “Moderate Buy” and an average target price of $5.50.

Satellogic Trading Up 3.2%

The stock’s 50-day simple moving average is $3.72 and its two-hundred day simple moving average is $2.92. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.12 and a quick ratio of 5.02. The firm has a market capitalization of $869.72 million, a P/E ratio of -25.68 and a beta of 1.45.

Satellogic (NASDAQ:SATL) last announced its quarterly earnings data on Thursday, March 19th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.23. Satellogic had a negative net margin of 27.01% and a negative return on equity of 34.92%. The firm had revenue of $6.25 million for the quarter, compared to the consensus estimate of $3.83 million.

Institutional Investors Weigh In On Satellogic

A number of institutional investors have recently bought and sold shares of SATL. Alyeska Investment Group L.P. purchased a new position in shares of Satellogic in the fourth quarter valued at about $16,830,000. Weiss Asset Management LP bought a new position in shares of Satellogic in the fourth quarter worth about $4,053,000. Cantor Fitzgerald L. P. grew its position in shares of Satellogic by 16.2% during the fourth quarter. Cantor Fitzgerald L. P. now owns 13,380,873 shares of the company’s stock worth $25,022,000 after purchasing an additional 1,863,696 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of Satellogic during the fourth quarter worth about $2,172,000. Finally, Vanguard Group Inc. raised its stake in Satellogic by 44.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,262,216 shares of the company’s stock valued at $10,700,000 after purchasing an additional 1,002,400 shares during the period. Hedge funds and other institutional investors own 17.58% of the company’s stock.

About Satellogic

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.