Walleye Capital LLC Makes New Investment in Satellogic Inc. $SATL

Walleye Capital LLC bought a new stake in Satellogic Inc. (NASDAQ:SATL) during the 1st quarter, Holdings Channel reports. The firm bought 192,031 shares of the company’s stock, valued at approximately $1,045,000.

Several other hedge funds have also made changes to their positions in the company. Commonwealth Financial Services LLC acquired a new stake in shares of Satellogic during the 1st quarter worth approximately $82,000. Bank of New York Mellon Corp lifted its holdings in Satellogic by 16.1% in the first quarter. Bank of New York Mellon Corp now owns 185,177 shares of the company’s stock valued at $1,007,000 after acquiring an additional 25,686 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new position in Satellogic in the first quarter valued at approximately $584,000. Janney Montgomery Scott LLC grew its position in Satellogic by 611.5% in the first quarter. Janney Montgomery Scott LLC now owns 88,935 shares of the company’s stock worth $484,000 after acquiring an additional 76,435 shares during the period. Finally, Krilogy Financial LLC purchased a new position in Satellogic in the first quarter worth approximately $60,000. Hedge funds and other institutional investors own 17.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Freedom Capital upgraded Satellogic from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 29th. Weiss Ratings upgraded Satellogic from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Northland Securities set a $11.00 price target on Satellogic in a report on Thursday, May 28th. Wall Street Zen downgraded Satellogic from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Roth Capital boosted their price objective on shares of Satellogic from $10.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Two equities research 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. According to data from MarketBeat.com, Satellogic presently has a consensus rating of “Buy” and an average target price of $9.10.

Satellogic Stock Performance

Shares of SATL stock opened at $3.59 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.41 and a current ratio of 2.44. The firm has a market cap of $532.18 million, a P/E ratio of -4.79 and a beta of 1.26. The firm’s 50 day moving average price is $6.41 and its 200-day moving average price is $5.39. Satellogic Inc. has a one year low of $1.25 and a one year high of $12.00.

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

Insider Buying and Selling at Satellogic

In other news, Director Liberty 77 Capital L.P. sold 10,000,000 shares of the firm’s 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 completion of the transaction, the director directly owned 10,000,000 shares in the company, valued at $97,700,000. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Alan Kharsansky sold 87,091 shares of Satellogic stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $8.35, for a total value of $727,209.85. Following the completion of 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 ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 38.84% of the company’s stock.

Satellogic 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.