Satellogic (NASDAQ:SATL) Shares Down 8.9% – Here’s What Happened

Satellogic Inc. (NASDAQ:SATL) was down 8.9% on Friday . The company traded as low as $4.83 and last traded at $4.84. Approximately 2,770,246 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 9,208,014 shares. The stock had previously closed at $5.31.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SATL shares. Roth Capital reaffirmed a “buy” rating on shares of Satellogic in a report on Thursday, August 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Satellogic in a report on Friday, August 7th. Zacks Research downgraded Satellogic from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Cantor Fitzgerald cut their price objective on shares of Satellogic from $10.00 to $9.00 and set an “overweight” rating for the company in a research report on Thursday, August 6th. Finally, Citigroup reiterated an “outperform” rating on shares of Satellogic in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $8.90.

Satellogic Trading Down 8.7%

The company has a quick ratio of 2.31, a current ratio of 2.34 and a debt-to-equity ratio of 2.65. The firm has a 50 day moving average price of $4.80 and a two-hundred day moving average price of $5.60. The company has a market cap of $745.64 million, a price-to-earnings ratio of -5.91 and a beta of 1.31.

Satellogic (NASDAQ:SATL) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.10). Satellogic had a negative net margin of 325.65% and a positive return on equity of 303.84%. The firm had revenue of $15.92 million during the quarter, compared to the consensus estimate of $9.57 million. As a group, equities analysts forecast that Satellogic Inc. will post -0.02 earnings per share for the current year.

Institutional Trading of Satellogic

Institutional investors have recently bought and sold shares of the company. Abel Hall LLC acquired a new position in shares of Satellogic in the 4th quarter valued at about $25,000. StoneX Group Inc. bought a new stake in Satellogic in the fourth quarter worth approximately $25,000. Neuberger Berman Group LLC bought a new stake in Satellogic in the fourth quarter worth approximately $25,000. Legal & General Group Plc acquired a new position in Satellogic in the second quarter valued at approximately $27,000. Finally, ProShare Advisors LLC boosted 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 worth $29,000 after buying an additional 3,561 shares in the last quarter. 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.