Satellogic (NASDAQ:SATL) Shares Down 6.6% – Should You Sell?

Shares of Satellogic Inc. (NASDAQ:SATL) were down 6.6% on Thursday . The stock traded as low as $5.62 and last traded at $5.7650. 1,616,647 shares traded hands during trading, a decline of 85% from the average daily volume of 10,460,856 shares. The stock had previously closed at $6.17.

Analyst Ratings Changes

SATL has been the topic of a number of research analyst reports. Weiss Ratings raised shares of Satellogic from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. Freedom Capital downgraded shares of Satellogic from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Wall Street Zen upgraded shares of Satellogic from a “sell” rating to a “hold” rating in a report on Monday, June 15th. Northland Securities set a $11.00 target price on Satellogic in a research report on Thursday, May 28th. Finally, Roth Mkm upped their price target on Satellogic from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $9.10.

Satellogic Price Performance

The firm has a market cap of $893.89 million, a price-to-earnings ratio of -8.04 and a beta of 1.19. The company has a quick ratio of 2.41, a current ratio of 2.44 and a debt-to-equity ratio of 0.93. The company’s 50-day moving average price is $7.72 and its 200-day moving average price is $4.92.

Satellogic (NASDAQ:SATL) last posted its quarterly earnings data on Tuesday, March 31st. The company reported ($0.84) EPS for the quarter. The business had revenue of $6.11 million during the quarter. Satellogic had a negative net margin of 443.06% and a negative return on equity of 100.03%. On average, equities research analysts forecast that Satellogic Inc. will post -0.11 EPS for the current year.

Insider Buying and Selling at Satellogic

In other news, Director Liberty 77 Capital L.P. sold 10,000,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $9.77, for a total transaction of $97,700,000.00. Following the sale, the director owned 10,000,000 shares of the company’s stock, valued at approximately $97,700,000. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Fitzgerald L. P. Cantor sold 500,000 shares of the stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $5.01, for a total value of $2,505,000.00. Following the completion of the sale, the insider owned 12,356,500 shares in the company, valued at approximately $61,906,065. The trade was a 3.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 10,587,091 shares of company stock valued at $100,932,210 in the last 90 days. Company insiders own 38.84% of the company’s stock.

Institutional Investors Weigh In On Satellogic

Several large investors have recently bought and sold shares of the stock. ProShare Advisors LLC grew its position in shares of Satellogic by 30.2% during the fourth quarter. ProShare Advisors LLC now owns 15,349 shares of the company’s stock worth $29,000 after buying an additional 3,561 shares in the last quarter. Invesco Ltd. increased its stake in shares of Satellogic by 14.0% during the fourth quarter. Invesco Ltd. now owns 46,639 shares of the company’s stock worth $87,000 after buying an additional 5,723 shares during the period. BNP Paribas Financial Markets raised its holdings in Satellogic by 107.5% in the third quarter. BNP Paribas Financial Markets now owns 13,613 shares of the company’s stock valued at $45,000 after acquiring an additional 7,052 shares in the last quarter. Legal & General Group Plc acquired a new stake in Satellogic in the second quarter valued at approximately $27,000. Finally, LMR Partners LLP purchased a new position in Satellogic in the second quarter worth approximately $30,000. Hedge funds and other institutional investors own 17.58% of the company’s stock.

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.