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

Shares of Satellogic Inc. (NASDAQ:SATL) gapped down before the market opened 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 trading hands.

Specifically, insider Fitzgerald L. P. Cantor sold 500,000 shares of the company’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $5.01, for a total transaction of $2,505,000.00. Following the completion of the transaction, the insider owned 12,356,500 shares in the company, valued at approximately $61,906,065. This represents a 3.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on SATL shares. Cantor Fitzgerald set a $7.00 price target on shares of Satellogic in a report on Friday, February 20th. Zacks Research raised shares of Satellogic to a “hold” rating in a report on Thursday, February 19th. Northland Securities initiated coverage on Satellogic in a research report on Wednesday, February 18th. They set an “outperform” rating and a $5.50 price objective for the company. Loop Capital set a $4.50 target price on Satellogic in a report on Wednesday, March 11th. Finally, Wall Street Zen upgraded Satellogic from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $5.50.

Satellogic Price Performance

The company has a market cap of $803.34 million, a P/E ratio of -23.72 and a beta of 1.45. The firm’s 50-day moving average is $3.77 and its two-hundred day moving average is $2.93. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.12 and a quick ratio of 5.02.

Satellogic (NASDAQ:SATL) last issued its quarterly earnings data on Thursday, March 19th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.23. The business had revenue of $6.25 million during the quarter, compared to analysts’ expectations of $3.83 million. Satellogic had a negative net margin of 27.01% and a negative return on equity of 34.92%.

Institutional Investors Weigh In On Satellogic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cantor Fitzgerald L. P. boosted its holdings in shares of Satellogic by 16.2% in the 4th quarter. Cantor Fitzgerald L. P. now owns 13,380,873 shares of the company’s stock worth $25,022,000 after purchasing an additional 1,863,696 shares during the period. Alyeska Investment Group L.P. purchased a new stake in Satellogic during the 4th quarter valued at $16,830,000. Vanguard Group Inc. lifted its position in Satellogic by 44.4% in the third quarter. Vanguard Group Inc. now owns 3,262,216 shares of the company’s stock worth $10,700,000 after buying an additional 1,002,400 shares during the last quarter. Weiss Asset Management LP bought a new stake in Satellogic in the fourth quarter worth $4,053,000. Finally, Geode Capital Management LLC boosted its stake in Satellogic by 34.5% during the fourth quarter. Geode Capital Management LLC now owns 1,807,737 shares of the company’s stock worth $3,381,000 after buying an additional 463,811 shares during the period. 17.58% of the stock is currently owned by hedge funds and other 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.