Satellogic (NASDAQ:SATL) Shares Gap Down – Here’s Why

Satellogic Inc. (NASDAQ:SATL) gapped down prior to trading on Tuesday . The stock had previously closed at $7.05, but opened at $6.79. Satellogic shares last traded at $6.8280, with a volume of 2,288,594 shares changing hands.

Analyst Ratings Changes

Several brokerages recently commented on SATL. Craig Hallum began coverage on Satellogic in a research note on Wednesday, January 21st. They issued a “buy” rating and a $5.00 price target for the company. Northland Securities began coverage on Satellogic in a research note on Wednesday, February 18th. They issued an “outperform” rating and a $5.50 price target for the company. Zacks Research raised Satellogic to a “hold” rating in a research note on Thursday, February 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Satellogic in a research note on Thursday, January 22nd. Finally, Loop Capital set a $4.50 price target on Satellogic in a research note on Wednesday, March 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $5.50.

Satellogic Stock Down 0.9%

The stock has a market cap of $985.68 million, a P/E ratio of -27.56 and a beta of 0.99. The company has a quick ratio of 5.02, a current ratio of 5.12 and a debt-to-equity ratio of 0.93. The business has a 50-day simple moving average of $4.06 and a 200-day simple moving average of $3.08.

Satellogic (NASDAQ:SATL) last announced its earnings results on Thursday, March 19th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.23. The firm had revenue of $6.25 million during the quarter, compared to analysts’ expectations of $3.83 million. Satellogic had a negative return on equity of 34.92% and a negative net margin of 27.01%.

Insider Transactions at Satellogic

In other Satellogic news, insider Fitzgerald L. P. Cantor sold 500,000 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $5.01, for a total transaction of $2,505,000.00. Following the completion of the sale, the insider owned 12,356,500 shares of the company’s stock, valued at $61,906,065. This represents a 3.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 1,024,373 shares of company stock worth $5,447,676 over the last three months. 51.62% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Satellogic

A number of large investors have recently added to or reduced their stakes in SATL. Alyeska Investment Group L.P. bought a new stake in Satellogic during the fourth quarter worth approximately $16,830,000. Weiss Asset Management LP acquired a new position in shares of Satellogic during the fourth quarter worth approximately $4,053,000. Cantor Fitzgerald L. P. lifted its holdings in shares of Satellogic by 16.2% during the fourth quarter. Cantor Fitzgerald L. P. now owns 13,380,873 shares of the company’s stock worth $25,022,000 after buying an additional 1,863,696 shares during the last quarter. Millennium Management LLC acquired a new position in shares of Satellogic during the fourth quarter worth approximately $2,172,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Satellogic by 44.4% during the third quarter. Vanguard Group Inc. now owns 3,262,216 shares of the company’s stock worth $10,700,000 after buying an additional 1,002,400 shares during the last quarter. 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.