Insider Selling: Satellogic (NASDAQ:SATL) Insider Sells $2,505,000.00 in Stock

Satellogic Inc. (NASDAQ:SATL) insider Fitzgerald Cantor sold 500,000 shares of the business’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $5.01, for a total transaction of $2,505,000.00. Following the sale, the insider owned 12,356,500 shares in the company, valued at $61,906,065. This trade represents 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 hyperlink.

Satellogic Trading Down 7.6%

Satellogic stock opened at $5.93 on Friday. The firm has a 50 day simple moving average of $3.77 and a 200-day simple moving average of $2.93. 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 stock has a market capitalization of $803.34 million, a PE ratio of -23.72 and a beta of 1.45. Satellogic Inc. has a 12-month low of $1.25 and a 12-month high of $6.84.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. purchased a new position in shares of Satellogic in the second quarter worth approximately $25,000. Abel Hall LLC purchased a new stake in shares of Satellogic in the 4th quarter valued at approximately $25,000. StoneX Group Inc. acquired a new position in Satellogic in the 4th quarter worth approximately $25,000. Neuberger Berman Group LLC acquired a new position in Satellogic in the 4th quarter worth approximately $25,000. Finally, Farther Finance Advisors LLC purchased a new position in Satellogic during the 3rd quarter worth approximately $26,000. 17.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SATL. Cantor Fitzgerald set a $7.00 price objective on Satellogic in a research note on Friday, February 20th. Zacks Research raised Satellogic to a “hold” rating in a research note on Thursday, February 19th. Wall Street Zen raised Satellogic from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Freedom Capital upgraded shares of Satellogic to a “strong-buy” rating in a research report on Wednesday, March 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Satellogic in a report on Thursday, January 22nd. One investment 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 given a Sell rating to the company’s stock. According to data from MarketBeat, Satellogic has an average rating of “Moderate Buy” and a consensus target price of $5.50.

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.