Satellogic (NASDAQ:SATL) Shares Down 6% – Time to Sell?

Satellogic Inc. (NASDAQ:SATL)’s stock price fell 6% during mid-day trading on Monday. The company traded as low as $5.24 and last traded at $5.3870. 1,045,675 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 8,663,817 shares. The stock had previously closed at $5.73.

Analyst Upgrades and Downgrades

SATL has been the topic of several analyst reports. Roth Capital reaffirmed a “buy” rating on shares of Satellogic in a research note on Thursday, August 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Satellogic in a research report on Friday, August 7th. Wall Street Zen downgraded shares of Satellogic from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Cantor Fitzgerald restated an “overweight” rating on shares of Satellogic in a research report on Monday, September 21st. Finally, Zacks Research cut shares of Satellogic from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $8.90.

Satellogic Stock Up 3.6%

The firm has a fifty day simple moving average of $5.17 and a 200 day simple moving average of $6.01. The company has a debt-to-equity ratio of 2.65, a quick ratio of 2.31 and a current ratio of 2.34. The company has a market cap of $847.11 million, a PE ratio of -6.72 and a beta of 1.37.

Satellogic (NASDAQ:SATL) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.10). Satellogic had a positive return on equity of 303.84% and a negative net margin of 325.65%.The company had revenue of $15.92 million for the quarter, compared to analysts’ expectations of $9.57 million. Equities research analysts predict that Satellogic Inc. will post -0.02 EPS for the current year.

Hedge Funds Weigh In On Satellogic

Several hedge funds and other institutional investors have recently modified their holdings of SATL. Allworth Financial LP lifted its position in Satellogic by 69.4% during the second quarter. Allworth Financial LP now owns 6,214 shares of the company’s stock valued at $36,000 after buying an additional 2,545 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in Satellogic during the 2nd quarter valued at $46,000. Krilogy Financial LLC bought a new stake in shares of Satellogic in the 1st quarter worth about $60,000. Commonwealth Financial Services LLC bought a new stake in shares of Satellogic in the 1st quarter worth about $82,000. Finally, NWF Advisory Services Inc. acquired a new stake in shares of Satellogic in the 2nd quarter valued at about $100,000. 17.58% of the stock is owned by institutional investors and hedge funds.

Satellogic Company Profile

Satellogic Inc (NASDAQ: SATL) is a geospatial intelligence company that operates a constellation of satellites designed to capture high-resolution imagery of Earth. Its satellites collect multispectral data that can be used to monitor changes in agriculture, infrastructure, natural resources, climate conditions and other areas of interest.

The company provides satellite imagery, tasking services and geospatial data products to government and commercial customers. Its platform is intended to support applications including defense and security, environmental monitoring, mapping, agriculture, energy and infrastructure management.