Satellogic (NASDAQ:SATL) Trading Down 6.6% – Time to Sell?

Satellogic Inc. (NASDAQ:SATL)’s stock price dropped 6.6% during mid-day trading on Thursday . The stock traded as low as $5.62 and last traded at $5.7650. Approximately 1,616,647 shares were traded during trading, a decline of 85% from the average daily volume of 10,460,856 shares. The stock had previously closed at $6.17.

Analysts Set New Price Targets

SATL has been the subject of several research analyst reports. Roth Mkm increased their target price on Satellogic from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Satellogic in a research report on Monday. Loop Capital set a $4.50 target price on Satellogic in a research report on Wednesday, March 11th. Freedom Capital cut Satellogic from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings upgraded Satellogic from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $9.10.

Satellogic Price Performance

The firm has a market cap of $867.97 million, a PE ratio of -7.79 and a beta of 1.19. The firm has a fifty day simple moving average of $7.76 and a two-hundred day simple moving average of $4.88. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.41 and a current ratio of 2.44.

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

Insider Buying and Selling at Satellogic

In other Satellogic news, insider Fitzgerald L. P. Cantor sold 500,000 shares of the firm’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 transaction, the insider owned 12,356,500 shares in the company, valued at $61,906,065. This trade represents a 3.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Alan Kharsansky sold 87,091 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief technology officer owned 47,785 shares of the company’s stock, valued at $399,004.75. This represents a 64.57% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 10,587,091 shares of company stock worth $100,932,210 in the last quarter. 38.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Satellogic

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Cantor Fitzgerald L. P. boosted its holdings in shares of Satellogic by 16.2% in the 4th quarter. Cantor Fitzgerald L. P. now owns 13,380,873 shares of the company’s stock worth $25,022,000 after purchasing an additional 1,863,696 shares during the period. Alyeska Investment Group L.P. bought a new stake in Satellogic during the 4th quarter valued at $16,830,000. Vanguard Group Inc. raised its position in shares of Satellogic by 44.4% in the 3rd quarter. Vanguard Group Inc. now owns 3,262,216 shares of the company’s stock worth $10,700,000 after acquiring an additional 1,002,400 shares in the last quarter. Weiss Asset Management LP bought a new position in shares of Satellogic in the 4th quarter worth $4,053,000. Finally, Geode Capital Management LLC raised its position in shares of Satellogic by 34.5% in the 4th quarter. Geode Capital Management LLC now owns 1,807,737 shares of the company’s stock worth $3,381,000 after acquiring an additional 463,811 shares in the last quarter. Hedge funds and other institutional investors 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.