Satellogic (NASDAQ:SATL) Trading Down 8.9% – Time to Sell?

Shares of Satellogic Inc. (NASDAQ:SATL) dropped 8.9% during mid-day trading on Friday . The stock traded as low as $4.83 and last traded at $4.84. 2,770,246 shares changed hands during trading, a decline of 70% from the average session volume of 9,208,014 shares. The stock had previously closed at $5.31.

Analyst Ratings Changes

SATL has been the subject of several research analyst reports. Zacks Research cut Satellogic from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Roth Capital restated a “buy” rating on shares of Satellogic in a research note on Thursday, August 6th. Citigroup reaffirmed an “outperform” rating on shares of Satellogic in a report on Wednesday, May 13th. Cantor Fitzgerald reduced their price objective on shares of Satellogic from $10.00 to $9.00 and set an “overweight” rating on the stock in a research note on Thursday, August 6th. Finally, Freedom Capital raised shares of Satellogic from a “hold” rating to a “strong-buy” rating in a report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Satellogic currently has a consensus rating of “Moderate Buy” and an average price target of $8.90.

Satellogic Price Performance

The company has a 50 day simple moving average of $4.82 and a 200-day simple moving average of $5.60. The stock has a market cap of $747.18 million, a price-to-earnings ratio of -5.93 and a beta of 1.31. The company has a quick ratio of 2.31, a current ratio of 2.34 and a debt-to-equity ratio of 2.65.

Satellogic (NASDAQ:SATL) last released its earnings results on Thursday, August 6th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.10). The firm had revenue of $15.92 million for the quarter, compared to the consensus estimate of $9.57 million. Satellogic had a positive return on equity of 303.84% and a negative net margin of 325.65%. As a group, research analysts anticipate that Satellogic Inc. will post -0.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Satellogic

Large investors have recently added to or reduced their stakes in the company. Abel Hall LLC acquired a new position in Satellogic in the fourth quarter worth $25,000. StoneX Group Inc. acquired a new stake in shares of Satellogic during the fourth quarter worth $25,000. Neuberger Berman Group LLC acquired a new stake in shares of Satellogic during the fourth quarter worth $25,000. Legal & General Group Plc bought a new position in shares of Satellogic in the 2nd quarter worth about $27,000. Finally, ProShare Advisors LLC lifted its position in shares of Satellogic by 30.2% in the 4th quarter. ProShare Advisors LLC now owns 15,349 shares of the company’s stock worth $29,000 after buying an additional 3,561 shares during the last quarter. 17.58% of the stock is currently owned by institutional investors.

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.