Satellogic (NASDAQ:SATL) Trading Down 5.4% After Insider Selling

Satellogic Inc. (NASDAQ:SATL)’s stock price was down 5.4% during mid-day trading on Thursday following insider selling activity. The company traded as low as $9.16 and last traded at $9.1960. Approximately 3,929,325 shares traded hands during trading, a decline of 63% from the average daily volume of 10,525,476 shares. The stock had previously closed at $9.72.

Specifically, CTO Alan Kharsansky sold 87,091 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $8.35, for a total transaction of $727,209.85. Following the transaction, the chief technology officer owned 47,785 shares of the company’s stock, valued at approximately $399,004.75. This trade represents a 64.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SATL. Northland Securities set a $9.00 price objective on shares of Satellogic in a research note on Wednesday, May 13th. Roth Mkm began coverage on shares of Satellogic in a research note on Friday, May 8th. They set a “buy” rating and a $10.00 price objective on the stock. Citigroup reiterated an “outperform” rating on shares of Satellogic in a research note on Wednesday, May 13th. Wall Street Zen lowered shares of Satellogic from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Craig Hallum began coverage on shares of Satellogic in a research note on Wednesday, January 21st. They set a “buy” rating and a $5.00 price objective on the stock. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $7.70.

Satellogic Stock Down 4.1%

The company has a quick ratio of 2.41, a current ratio of 2.44 and a debt-to-equity ratio of 0.93. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of -12.42 and a beta of 1.06. The stock’s 50 day moving average is $6.35 and its 200 day moving average is $3.95.

Satellogic (NASDAQ:SATL) last posted its quarterly earnings data on Tuesday, March 31st. The company reported ($0.84) EPS for the quarter. The company had revenue of $6.11 million for the quarter. Satellogic had a negative net margin of 443.06% and a negative return on equity of 100.03%. Analysts forecast that Satellogic Inc. will post -0.11 EPS for the current year.

Hedge Funds Weigh In On Satellogic

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc acquired a new position in Satellogic in the 2nd quarter worth approximately $27,000. LMR Partners LLP acquired a new position in Satellogic in the 2nd quarter worth approximately $30,000. Squarepoint Ops LLC acquired a new position in Satellogic in the 3rd quarter worth approximately $33,000. Krilogy Financial LLC acquired a new position in Satellogic in the 1st quarter worth approximately $60,000. Finally, Virtu Financial LLC acquired a new position in Satellogic in the 3rd quarter worth approximately $36,000. 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.