Satellogic (NASDAQ:SATL) Shares Gap Down Following Insider Selling

Satellogic Inc. (NASDAQ:SATL)’s stock price gapped down prior to trading on Thursday following insider selling activity. The stock had previously closed at $6.22, but opened at $5.75. Satellogic shares last traded at $6.2030, with a volume of 4,575,099 shares traded.

Specifically, insider Fitzgerald L. P. Cantor sold 500,000 shares of the 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 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 sale was disclosed in a filing with the SEC, which is available at the SEC website.

Analysts Set New Price Targets

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

Satellogic Trading Down 2.6%

The company has a 50 day moving average of $3.66 and a 200 day moving average of $2.89. The company has a debt-to-equity ratio of 0.93, a quick ratio of 5.02 and a current ratio of 5.12. The stock has a market capitalization of $820.54 million, a price-to-earnings ratio of -24.23 and a beta of 1.45.

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 the consensus estimate of ($0.06) by $0.23. Satellogic had a negative net margin of 27.01% and a negative return on equity of 34.92%. The company had revenue of $6.25 million for the quarter, compared to analysts’ expectations of $3.83 million.

Hedge Funds Weigh In On Satellogic

Institutional investors and hedge funds have recently bought and sold shares of the business. Halter Ferguson Financial Inc. acquired a new stake in Satellogic in the 3rd quarter valued at about $1,276,000. ProShare Advisors LLC boosted its holdings in shares of Satellogic by 30.2% during the 4th quarter. ProShare Advisors LLC now owns 15,349 shares of the company’s stock worth $29,000 after purchasing an additional 3,561 shares during the last quarter. Thompson Davis & CO. Inc. acquired a new position in shares of Satellogic during the 4th quarter worth approximately $41,000. SG Americas Securities LLC purchased a new stake in shares of Satellogic in the fourth quarter valued at approximately $46,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Satellogic in the third quarter valued at approximately $59,000. 17.58% of the stock is currently owned by institutional investors and hedge funds.

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.