Satellogic (NASDAQ:SATL) Director Liberty 77 Capital L.P. Sells 10,000,000 Shares

Satellogic Inc. (NASDAQ:SATL) Director Liberty 77 Capital L.P. sold 10,000,000 shares of Satellogic 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Satellogic Price Performance

SATL stock traded up $0.08 during midday trading on Thursday, reaching $9.85. The stock had a trading volume of 10,556,034 shares, compared to its average volume of 10,085,025. The company’s fifty day simple moving average is $7.21 and its 200 day simple moving average is $4.30. The company has a current ratio of 2.44, a quick ratio of 2.41 and a debt-to-equity ratio of 0.93. The company has a market cap of $1.46 billion, a price-to-earnings ratio of -13.13 and a beta of 1.06. Satellogic Inc. has a 52-week low of $1.25 and a 52-week high of $12.00.

Satellogic (NASDAQ:SATL) last announced its quarterly earnings data on Tuesday, March 31st. The company reported ($0.84) earnings per share for the quarter. The firm 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, sell-side analysts predict that Satellogic Inc. will post -0.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on SATL. Cantor Fitzgerald raised their price objective on Satellogic from $7.00 to $10.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. Loop Capital set a $4.50 price objective on Satellogic in a report on Wednesday, March 11th. Freedom Capital lowered Satellogic from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Northland Securities set a $11.00 price objective on Satellogic in a report on Thursday. Finally, Weiss Ratings upgraded Satellogic from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $9.10.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Bank of America Corp DE raised its holdings in shares of Satellogic by 29.8% during the 1st quarter. Bank of America Corp DE now owns 72,832 shares of the company’s stock worth $396,000 after acquiring an additional 16,707 shares during the period. MSA Advisors LLC purchased a new position in shares of Satellogic during the 1st quarter worth $143,000. Royal Bank of Canada raised its holdings in shares of Satellogic by 4,052.9% during the 1st quarter. Royal Bank of Canada now owns 417,033 shares of the company’s stock worth $2,269,000 after acquiring an additional 406,991 shares during the period. Themes Management Co LLC purchased a new stake in Satellogic in the 1st quarter valued at about $121,000. Finally, Renaissance Technologies LLC purchased a new stake in Satellogic in the 1st quarter valued at about $6,463,000. Hedge funds and other institutional investors own 17.58% of the company’s stock.

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.