Satellogic (NASDAQ:SATL) Stock Price Down 10.5% – Here’s What Happened

Satellogic Inc. (NASDAQ:SATL) traded down 10.5% during mid-day trading on Friday . The company traded as low as $5.66 and last traded at $5.7470. 6,025,608 shares changed hands during mid-day trading, a decline of 41% from the average session volume of 10,216,254 shares. The stock had previously closed at $6.42.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SATL. Freedom Capital raised Satellogic to a “strong-buy” rating in a research report on Wednesday, March 11th. Craig Hallum began coverage on Satellogic in a research report on Wednesday, January 21st. They issued a “buy” rating and a $5.00 price target for the company. Zacks Research raised Satellogic to a “hold” rating in a research note on Thursday, February 19th. Loop Capital set a $4.50 price objective on Satellogic in a report on Wednesday, March 11th. Finally, Northland Securities began coverage on shares of Satellogic in a research note on Wednesday, February 18th. They set an “outperform” rating and a $5.50 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $5.50.

Satellogic Stock Performance

The firm’s 50-day simple moving average is $3.77 and its two-hundred day simple moving average is $2.93. The company has a current ratio of 5.12, a quick ratio of 5.02 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $803.34 million, a PE ratio of -23.72 and a beta of 1.45.

Satellogic (NASDAQ:SATL) last released its earnings results on Thursday, March 19th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.23. The company had revenue of $6.25 million during the quarter, compared to analyst estimates of $3.83 million. Satellogic had a negative return on equity of 34.92% and a negative net margin of 27.01%.

Insider Transactions at Satellogic

In related news, insider Fitzgerald L. P. Cantor sold 500,000 shares of the stock in a transaction dated 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 completion of the sale, the insider directly owned 12,356,500 shares of the company’s stock, valued at approximately $61,906,065. This represents a 3.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders sold 1,024,373 shares of company stock valued at $5,447,676. 51.62% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Satellogic

Several institutional investors and hedge funds have recently bought and sold shares of the business. Cantor Fitzgerald L. P. lifted its position in shares of Satellogic by 16.2% in 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. Alyeska Investment Group L.P. acquired a new stake in shares of Satellogic during the fourth quarter worth approximately $16,830,000. Vanguard Group Inc. grew its position in Satellogic by 44.4% during the third 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 in the last quarter. Weiss Asset Management LP purchased a new position in Satellogic during the fourth quarter valued at approximately $4,053,000. Finally, Geode Capital Management LLC increased its stake in Satellogic by 34.5% in the 4th quarter. Geode Capital Management LLC now owns 1,807,737 shares of the company’s stock valued at $3,381,000 after buying an additional 463,811 shares during the period. Hedge funds and other institutional investors 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.