Satellogic (NASDAQ:SATL) Downgraded by Wall Street Zen to “Sell”

Satellogic (NASDAQ:SATL) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Several other analysts have also commented on the company. Weiss Ratings upgraded Satellogic from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Satellogic in a research report on Monday, June 15th. Freedom Capital cut Satellogic from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Loop Capital set a $4.50 price target on Satellogic in a research note on Wednesday, March 11th. Finally, Citigroup reissued an “outperform” rating on shares of Satellogic in a report on Wednesday, May 13th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Satellogic has an average rating of “Moderate Buy” and an average price target of $9.10.

Satellogic Trading Up 0.9%

NASDAQ:SATL opened at $4.62 on Friday. Satellogic has a 52 week low of $1.25 and a 52 week high of $12.00. The firm has a 50 day moving average of $7.50 and a 200 day moving average of $5.04. 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 stock has a market capitalization of $684.87 million, a price-to-earnings ratio of -6.16 and a beta of 1.19.

Satellogic (NASDAQ:SATL) last announced its earnings results on Tuesday, March 31st. The company reported ($0.84) earnings per share for the quarter. Satellogic had a negative net margin of 443.06% and a negative return on equity of 100.03%. The firm had revenue of $6.11 million during the quarter. As a group, sell-side analysts anticipate that Satellogic will post -0.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Satellogic

In other news, Director Liberty 77 Capital L.P. sold 10,000,000 shares of Satellogic stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $9.77, for a total transaction of $97,700,000.00. Following the completion of the sale, the director directly owned 10,000,000 shares in the company, valued at approximately $97,700,000. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Alan Kharsansky sold 87,091 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $8.35, for a total transaction of $727,209.85. Following the sale, the chief technology officer directly owned 47,785 shares in the company, valued at $399,004.75. This trade represents a 64.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 38.84% of the company’s stock.

Institutional Trading of Satellogic

Several large investors have recently added to or reduced their stakes in SATL. ProShare Advisors LLC raised its holdings 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 purchasing an additional 3,561 shares during the last quarter. Invesco Ltd. lifted its position in Satellogic by 14.0% during the fourth quarter. Invesco Ltd. now owns 46,639 shares of the company’s stock valued at $87,000 after purchasing an additional 5,723 shares during the period. BNP Paribas Financial Markets boosted 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 purchasing an additional 7,052 shares during the last quarter. Legal & General Group Plc purchased a new stake in Satellogic in the second quarter valued at $27,000. Finally, LMR Partners LLP acquired a new stake in Satellogic during the 2nd quarter worth about $30,000. Hedge funds and other institutional investors own 17.58% of the company’s stock.

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.