Renaissance Technologies LLC Buys New Position in Satellogic Inc. $SATL

Renaissance Technologies LLC purchased a new position in shares of Satellogic Inc. (NASDAQ:SATL) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,188,108 shares of the company’s stock, valued at approximately $6,463,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Abel Hall LLC purchased a new stake in shares of Satellogic during the fourth quarter worth about $25,000. StoneX Group Inc. acquired a new stake in Satellogic during the fourth quarter worth approximately $25,000. Neuberger Berman Group LLC acquired a new stake in Satellogic during the fourth quarter worth approximately $25,000. Legal & General Group Plc purchased a new stake in Satellogic in the 2nd quarter worth approximately $27,000. Finally, ProShare Advisors LLC grew its stake in Satellogic by 30.2% in the 4th quarter. ProShare Advisors LLC now owns 15,349 shares of the company’s stock worth $29,000 after acquiring an additional 3,561 shares during the period. 17.58% of the stock is currently owned by hedge funds and other institutional investors.

Satellogic Price Performance

SATL stock opened at $4.49 on Wednesday. The company has a market cap of $665.60 million, a PE ratio of -5.99 and a beta of 1.31. The company has a current ratio of 2.44, a quick ratio of 2.41 and a debt-to-equity ratio of 0.93. The stock has a 50-day moving average price of $5.52 and a two-hundred day moving average price of $5.45. Satellogic Inc. has a 12-month low of $1.25 and a 12-month high of $12.00.

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

Insider Buying and Selling

In other Satellogic news, CTO Alan Kharsansky sold 87,091 shares of the business’s stock in a transaction that occurred 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 directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Liberty 77 Capital L.P. sold 10,000,000 shares of the 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 completion of the sale, the director directly owned 10,000,000 shares of the company’s stock, valued at $97,700,000. The trade was a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. 38.84% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Citigroup reissued an “outperform” rating on shares of Satellogic in a research note on Wednesday, May 13th. Zacks Research upgraded shares of Satellogic from a “hold” rating to a “strong-buy” rating in a report on Friday, July 10th. Weiss Ratings raised shares of Satellogic from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. Northland Securities set a $11.00 target price on shares of Satellogic in a report on Thursday, May 28th. Finally, Roth Capital increased their price target on shares of Satellogic from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $9.10.

Satellogic 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.