Satellogic (NASDAQ:SATL) Shares Down 3.1% – Here’s Why

Satellogic Inc. (NASDAQ:SATL) shares fell 3.1% during mid-day trading on Tuesday. The company traded as low as $3.62 and last traded at $3.7780. Approximately 1,232,190 shares traded hands during trading, a decline of 85% from the average daily volume of 8,445,991 shares. The stock had previously closed at $3.90.

Analyst Ratings Changes

A number of research firms have commented on SATL. Wall Street Zen downgraded shares of Satellogic from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Satellogic in a research note on Monday, September 21st. Freedom Capital upgraded Satellogic from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 29th. Roth Capital reiterated a “buy” rating on shares of Satellogic in a report on Thursday, August 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Satellogic in a research report on Friday, August 7th. One research 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $8.90.

Satellogic Price Performance

The company has a current ratio of 2.34, a quick ratio of 2.31 and a debt-to-equity ratio of 2.65. The firm has a market capitalization of $574.07 million, a price-to-earnings ratio of -4.52 and a beta of 1.37. The stock’s fifty day moving average price is $5.19 and its two-hundred day moving average price is $5.97.

Satellogic (NASDAQ:SATL) last issued its quarterly earnings results 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). The company had revenue of $15.92 million for the quarter, compared to analyst estimates of $9.57 million. Satellogic had a positive return on equity of 303.84% and a negative net margin of 325.65%. Equities research analysts expect that Satellogic Inc. will post -0.02 EPS for the current year.

Institutional Trading of Satellogic

Several large investors have recently modified their holdings of SATL. Tidal Investments LLC acquired a new position in shares of Satellogic in the 2nd quarter valued at about $11,613,000. Tema ETFs LLC bought a new position in shares of Satellogic in the second quarter worth $8,640,000. Renaissance Technologies LLC bought a new position in Satellogic during the 1st quarter valued at $6,463,000. Royal Bank of Canada grew its stake in shares of Satellogic by 4,052.9% in the 1st quarter. Royal Bank of Canada now owns 417,033 shares of the company’s stock worth $2,269,000 after purchasing an additional 406,991 shares during the last quarter. Finally, Sei Investments Co. bought a new stake in shares of Satellogic during the 1st quarter worth $1,607,000. 17.58% of the stock is currently owned by institutional investors and hedge funds.

About Satellogic

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.