Satellogic (NASDAQ:SATL) Stock Rating Lowered by Wall Street Zen

Satellogic (NASDAQ:SATL) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Sunday.

Several other equities research analysts have also weighed in on SATL. Loop Capital set a $4.50 price objective on Satellogic in a research note on Wednesday, March 11th. Roth Mkm upped their price objective on Satellogic from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Zacks Research upgraded Satellogic to a “hold” rating in a research note on Thursday, February 19th. Cantor Fitzgerald upped their price objective on Satellogic from $7.00 to $10.00 and gave the company an “overweight” rating in a research note on Wednesday, May 13th. Finally, Freedom Capital lowered Satellogic from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $9.10.

Satellogic Trading Down 12.5%

SATL stock opened at $7.12 on Friday. Satellogic has a 1-year low of $1.25 and a 1-year high of $12.00. The firm has a market cap of $1.06 billion, a P/E ratio of -9.49 and a beta of 1.19. The business’s 50 day moving average is $7.68 and its 200-day moving average is $4.57. The company has a current ratio of 2.44, a quick ratio of 2.41 and a debt-to-equity ratio of 0.93.

Satellogic (NASDAQ:SATL) last released its quarterly earnings data 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 company had revenue of $6.11 million during the quarter. Equities analysts anticipate that Satellogic will post -0.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Satellogic news, CTO Alan Kharsansky sold 87,091 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $8.35, for a total transaction of $727,209.85. Following the transaction, the chief technology officer owned 47,785 shares of the company’s stock, valued at approximately $399,004.75. This represents a 64.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $97,700,000.00. Following the transaction, the director directly owned 10,000,000 shares in the company, valued at approximately $97,700,000. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 10,587,091 shares of company stock valued at $100,932,210. 38.84% of the stock is currently owned by corporate insiders.

Institutional Trading of Satellogic

Several institutional investors and hedge funds have recently made changes to their positions in SATL. Geode Capital Management LLC raised its position in shares of Satellogic by 1,671.4% during the 2nd quarter. Geode Capital Management LLC now owns 874,487 shares of the company’s stock valued at $3,166,000 after acquiring an additional 825,121 shares during the last quarter. JPMorgan Chase & Co. bought a new stake in shares of Satellogic during the 2nd quarter valued at $118,000. Legal & General Group Plc bought a new stake in shares of Satellogic during the 2nd quarter valued at $27,000. Rhumbline Advisers bought a new stake in shares of Satellogic during the 2nd quarter valued at $351,000. Finally, New York State Common Retirement Fund bought a new stake in shares of Satellogic during the 2nd quarter valued at $97,000. 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.