Renaissance Technologies LLC Buys Shares of 1,188,108 Satellogic Inc. $SATL

Renaissance Technologies LLC purchased a new position in shares of Satellogic Inc. (NASDAQ:SATL) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,188,108 shares of the company’s stock, valued at approximately $6,463,000. Renaissance Technologies LLC owned 0.83% of Satellogic at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Legal & General Group Plc purchased a new position in Satellogic in the second quarter worth approximately $27,000. LMR Partners LLP acquired a new stake in shares of Satellogic during the second quarter worth about $30,000. Squarepoint Ops LLC purchased a new stake in shares of Satellogic in the 3rd quarter valued at about $33,000. Krilogy Financial LLC acquired a new stake in shares of Satellogic in the 1st quarter valued at about $60,000. Finally, Virtu Financial LLC purchased a new position in Satellogic during the 3rd quarter worth approximately $36,000. Institutional investors and hedge funds own 17.58% of the company’s stock.

Satellogic Trading Up 13.7%

Shares of Satellogic stock opened at $4.49 on Wednesday. The company has a 50-day moving average of $5.52 and a two-hundred day moving average of $5.45. Satellogic Inc. has a 12-month low of $1.25 and a 12-month high of $12.00. 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 stock has a market cap of $665.60 million, a PE ratio of -5.99 and a beta of 1.31.

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 during the quarter. Satellogic had a negative return on equity of 100.03% and a negative net margin of 443.06%. On average, research analysts anticipate that Satellogic Inc. will post -0.11 EPS for the current fiscal year.

Insider Activity

In other Satellogic news, CTO Alan Kharsansky sold 87,091 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $8.35, for a total value of $727,209.85. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Liberty 77 Capital L.P. sold 10,000,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $9.77, for a total transaction of $97,700,000.00. Following the transaction, the director directly owned 10,000,000 shares of the company’s stock, valued at approximately $97,700,000. This trade represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 38.84% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SATL shares. Weiss Ratings raised shares of Satellogic from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Cantor Fitzgerald restated an “overweight” rating on shares of Satellogic in a research note on Monday, June 15th. Wall Street Zen cut shares of Satellogic from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Zacks Research upgraded shares of Satellogic from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 10th. Finally, Citigroup reissued an “outperform” rating on shares of Satellogic in a report on Wednesday, May 13th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Satellogic has an average rating of “Buy” and an average target price of $9.10.

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.