Satellogic (NASDAQ:SATL) Stock Price Down 6.9% Following Insider Selling

Shares of Satellogic Inc. (NASDAQ:SATL) fell 6.9% during mid-day trading on Friday after an insider sold shares in the company. The company traded as low as $9.12 and last traded at $9.1750. 2,180,912 shares were traded during trading, a decline of 80% from the average session volume of 10,662,001 shares. The stock had previously closed at $9.85.

Specifically, 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 value of $97,700,000.00. Following the sale, the director directly owned 10,000,000 shares of the company’s stock, valued at $97,700,000. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on SATL shares. Roth Mkm increased their target price on Satellogic from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday. Northland Securities set a $11.00 price objective on shares of Satellogic in a research report on Thursday. Weiss Ratings upgraded shares of Satellogic from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. Cantor Fitzgerald lifted their target price on shares of Satellogic from $7.00 to $10.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. Finally, Zacks Research upgraded shares of Satellogic to a “hold” rating in a research note on Thursday, February 19th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Satellogic presently has an average rating of “Moderate Buy” and a consensus target price of $9.10.

Satellogic Price Performance

The firm has a 50-day moving average of $7.21 and a 200 day moving average of $4.30. The company has a market capitalization of $1.33 billion, a PE ratio of -12.04 and a beta of 1.06. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.44 and a quick ratio of 2.41.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SATL. Cantor Fitzgerald L. P. boosted its holdings in 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 during the last quarter. Alyeska Investment Group L.P. purchased a new stake in Satellogic during the 4th quarter valued at $16,830,000. 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 buying an additional 1,002,400 shares during the last quarter. Weiss Asset Management LP bought a new position in shares of Satellogic during the 4th quarter valued at $4,053,000. Finally, Geode Capital Management LLC boosted its stake in shares of Satellogic by 34.5% in the 4th quarter. Geode Capital Management LLC now owns 1,807,737 shares of the company’s stock worth $3,381,000 after buying an additional 463,811 shares during the last quarter. 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.