Halter Ferguson Financial Inc. Sells 352,389 Shares of Satellogic Inc. $SATL

Halter Ferguson Financial Inc. cut its position in Satellogic Inc. (NASDAQ:SATL) by 42.0% during the 1st quarter, HoldingsChannel reports. The firm owned 487,443 shares of the company’s stock after selling 352,389 shares during the quarter. Satellogic comprises about 0.6% of Halter Ferguson Financial Inc.’s portfolio, making the stock its 17th largest holding. Halter Ferguson Financial Inc.’s holdings in Satellogic were worth $2,652,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SATL. Neuberger Berman Group LLC bought a new stake in shares of Satellogic in the 4th quarter valued at $25,000. StoneX Group Inc. bought a new stake in shares of Satellogic in the fourth quarter worth about $25,000. Abel Hall LLC acquired a new stake in shares of Satellogic during the fourth quarter worth about $25,000. Legal & General Group Plc acquired a new stake in shares of Satellogic during the second quarter worth about $27,000. Finally, ProShare Advisors LLC lifted its holdings in shares of Satellogic by 30.2% during the 4th quarter. ProShare Advisors LLC now owns 15,349 shares of the company’s stock valued at $29,000 after purchasing an additional 3,561 shares in the last quarter. 17.58% of the stock is owned by institutional investors.

Satellogic Stock Down 2.5%

Shares of Satellogic stock opened at $5.05 on Tuesday. The firm has a market cap of $749.06 million, a PE ratio of -6.87 and a beta of 1.26. The business’s 50 day simple moving average is $7.32 and its 200 day simple moving average is $5.21. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.41 and a current ratio of 2.44. Satellogic Inc. has a 52-week low of $1.25 and a 52-week high of $12.00.

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SATL. Northland Securities set a $11.00 price objective on Satellogic in a research report on Thursday, May 28th. Wall Street Zen downgraded shares of Satellogic from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Citigroup reiterated an “outperform” rating on shares of Satellogic in a report on Wednesday, May 13th. Weiss Ratings raised shares of Satellogic from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Satellogic in a report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Satellogic presently has an average rating of “Moderate Buy” and a consensus target price of $9.10.

Insiders Place Their Bets

In related news, Director Liberty 77 Capital L.P. sold 10,000,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $9.77, for a total value of $97,700,000.00. Following the completion of the transaction, the director owned 10,000,000 shares of the company’s stock, valued at approximately $97,700,000. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Alan Kharsansky sold 87,091 shares of Satellogic 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 completion of the sale, the chief technology officer owned 47,785 shares in the company, valued at $399,004.75. The trade was a 64.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 38.84% 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.