Satellogic (NASDAQ:SATL) Stock Price Down 4.2% – Here’s What Happened

Shares of Satellogic Inc. (NASDAQ:SATL) fell 4.2% during trading on Tuesday . The stock traded as low as $6.69 and last traded at $6.6960. 1,143,385 shares changed hands during trading, a decline of 89% from the average session volume of 10,520,494 shares. The stock had previously closed at $6.99.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SATL shares. Citigroup reaffirmed an “outperform” rating on shares of Satellogic in a research note on Wednesday, May 13th. Northland Securities set a $11.00 price target on shares of Satellogic in a research note on Thursday, May 28th. Roth Mkm raised their price target on shares of Satellogic from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Freedom Capital cut shares of Satellogic from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Finally, Loop Capital set a $4.50 price target on Satellogic in a research note on Wednesday, March 11th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $9.10.

Satellogic Stock Down 10.7%

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 firm’s 50 day moving average is $7.69 and its two-hundred day moving average is $4.63. The firm has a market capitalization of $925.78 million, a P/E ratio of -8.29 and a beta of 1.19.

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

Insider Activity at Satellogic

In related news, insider Fitzgerald L. P. Cantor sold 500,000 shares of the firm’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $5.01, for a total value of $2,505,000.00. Following the completion of the transaction, the insider directly owned 12,356,500 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Liberty 77 Capital L.P. sold 10,000,000 shares of Satellogic stock in a transaction 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 transaction, the director directly owned 10,000,000 shares of the company’s stock, valued at approximately $97,700,000. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 10,587,091 shares of company stock valued at $100,932,210. 38.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Satellogic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ProShare Advisors LLC boosted its position in Satellogic by 30.2% during the fourth quarter. ProShare Advisors LLC now owns 15,349 shares of the company’s stock worth $29,000 after purchasing an additional 3,561 shares during the period. Invesco Ltd. boosted its position in Satellogic by 14.0% during the fourth quarter. Invesco Ltd. now owns 46,639 shares of the company’s stock worth $87,000 after purchasing an additional 5,723 shares during the period. BNP Paribas Financial Markets boosted its position in Satellogic by 107.5% during the third quarter. BNP Paribas Financial Markets now owns 13,613 shares of the company’s stock worth $45,000 after purchasing an additional 7,052 shares during the period. Legal & General Group Plc bought a new position in Satellogic during the second quarter worth $27,000. Finally, LMR Partners LLP bought a new position in Satellogic during the second quarter worth $30,000. 17.58% of the stock is owned by institutional investors.

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.