Satellogic (NASDAQ:SATL) Downgraded by Zacks Research to “Hold”

Zacks Research lowered shares of Satellogic (NASDAQ:SATL) from a strong-buy rating to a hold rating in a research note published on Monday,Zacks.com reports.

A number of other equities analysts have also commented on SATL. Citigroup reiterated an “outperform” rating on shares of Satellogic in a report on Wednesday, May 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Satellogic in a research note on Friday. Northland Securities set a $11.00 target price on Satellogic in a research report on Thursday, May 28th. Roth Capital reiterated a “buy” rating on shares of Satellogic in a research note on Thursday, August 6th. Finally, Freedom Capital upgraded Satellogic from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Satellogic has an average rating of “Moderate Buy” and an average price target of $8.90.

Satellogic Trading Up 7.9%

SATL opened at $5.75 on Monday. The firm’s 50 day moving average is $5.12 and its 200-day moving average is $5.51. Satellogic has a 52-week low of $1.25 and a 52-week high of $12.00. The company has a quick ratio of 2.31, a current ratio of 2.34 and a debt-to-equity ratio of 2.65. The firm has a market capitalization of $852.38 million, a P/E ratio of -7.01 and a beta of 1.31.

Satellogic (NASDAQ:SATL) last announced its earnings results on Wednesday, August 5th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.10). The firm had revenue of $15.92 million during the quarter, compared to analysts’ expectations of $9.57 million. Satellogic had a negative net margin of 325.65% and a positive return on equity of 303.84%. Analysts expect that Satellogic will post -0.02 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, 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 owned 47,785 shares in the company, valued at approximately $399,004.75. The trade was a 64.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Liberty 77 Capital L.P. sold 10,000,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were 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 $97,700,000. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 38.84% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Satellogic

A number of institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp bought a new position in shares of Satellogic during the second quarter worth about $1,278,000. Tema ETFs LLC bought a new stake in Satellogic in the second quarter valued at about $8,640,000. Hennion & Walsh Asset Management Inc. bought a new stake in Satellogic in the second quarter valued at about $402,000. Bank of America Corp DE raised its stake in Satellogic by 29.8% during the first quarter. Bank of America Corp DE now owns 72,832 shares of the company’s stock valued at $396,000 after buying an additional 16,707 shares in the last quarter. Finally, MSA Advisors LLC acquired a new stake in Satellogic during the first quarter valued at approximately $143,000. Institutional investors and hedge funds 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.