Satellogic (NASDAQ:SATL) Downgraded by Wall Street Zen to “Sell”

Satellogic (NASDAQ:SATL) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

A number of other equities analysts have also weighed in on the company. Citigroup reiterated an “outperform” rating on shares of Satellogic in a research note on Wednesday, May 13th. Weiss Ratings upgraded Satellogic from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. Freedom Capital raised Satellogic from a “hold” rating to a “strong-buy” rating in a report on Monday, June 29th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Satellogic in a research report on Monday, June 15th. Finally, Zacks Research raised Satellogic from a “hold” rating to a “strong-buy” rating in a report on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $9.10.

Satellogic Stock Down 5.8%

NASDAQ:SATL opened at $3.59 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.44 and a quick ratio of 2.41. The company’s fifty day moving average price is $6.41 and its 200-day moving average price is $5.39. Satellogic has a 1-year low of $1.25 and a 1-year high of $12.00. The firm has a market capitalization of $532.18 million, a P/E ratio of -4.79 and a beta of 1.26.

Satellogic (NASDAQ:SATL) last posted its earnings results on Tuesday, March 31st. The company reported ($0.84) earnings per share (EPS) for the quarter. Satellogic had a negative net margin of 443.06% and a negative return on equity of 100.03%. The business had revenue of $6.11 million for the quarter. As a group, equities research analysts anticipate that Satellogic will post -0.11 EPS for the current year.

Insider Activity

In other Satellogic news, Director Liberty 77 Capital L.P. sold 10,000,000 shares of the business’s stock in a transaction that occurred 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 approximately $97,700,000. The trade was a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Alan Kharsansky sold 87,091 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $8.35, for a total transaction of $727,209.85. Following the sale, the chief technology officer directly owned 47,785 shares of the company’s stock, valued at $399,004.75. The trade was a 64.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 38.84% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Cantor Fitzgerald L. P. boosted its position in shares of Satellogic by 16.2% during the 4th quarter. Cantor Fitzgerald L. P. now owns 13,380,873 shares of the company’s stock valued at $25,022,000 after acquiring an additional 1,863,696 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in Satellogic during the fourth quarter worth about $16,830,000. Vanguard Group Inc. raised its stake in Satellogic by 44.4% during the third quarter. Vanguard Group Inc. now owns 3,262,216 shares of the company’s stock worth $10,700,000 after purchasing an additional 1,002,400 shares during the period. Weiss Asset Management LP purchased a new position in Satellogic during the fourth quarter worth about $4,053,000. Finally, Geode Capital Management LLC boosted its holdings 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 purchasing an additional 463,811 shares during the last quarter. 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.