Satellogic (NASDAQ:SATL) CTO Alan Kharsansky Sells 87,091 Shares of Stock

Satellogic Inc. (NASDAQ:SATL) CTO Alan Kharsansky sold 87,091 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $8.35, for a total value of $727,209.85. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Satellogic Stock Up 0.6%

Shares of SATL opened at $9.72 on Thursday. The company has a market cap of $1.39 billion, a PE ratio of -12.96 and a beta of 1.06. The business has a fifty day moving average of $6.35 and a 200 day moving average of $3.95. Satellogic Inc. has a 52-week low of $1.25 and a 52-week high of $10.19. The company has a quick ratio of 2.41, a current ratio of 2.44 and a debt-to-equity ratio of 0.93.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Craig Hallum assumed coverage on Satellogic in a research note on Wednesday, January 21st. They set a “buy” rating and a $5.00 price target on the stock. Citigroup restated an “outperform” rating on shares of Satellogic in a research note on Wednesday, May 13th. Wall Street Zen lowered Satellogic from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Zacks Research upgraded Satellogic to a “hold” rating in a research note on Thursday, February 19th. Finally, Roth Mkm started coverage on Satellogic in a research note on Friday, May 8th. They issued a “buy” rating and a $10.00 target price on the stock. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $7.70.

Institutional Trading of Satellogic

Several institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE lifted its stake in Satellogic by 29.8% during the 1st quarter. Bank of America Corp DE now owns 72,832 shares of the company’s stock valued at $396,000 after acquiring an additional 16,707 shares during the period. MSA Advisors LLC acquired a new position in Satellogic in the first quarter valued at approximately $143,000. Royal Bank of Canada lifted its holdings in Satellogic by 4,052.9% in the first quarter. Royal Bank of Canada now owns 417,033 shares of the company’s stock valued at $2,269,000 after acquiring an additional 406,991 shares during the period. Themes Management Co LLC acquired a new position in shares of Satellogic during the 1st quarter worth approximately $121,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Satellogic during the 1st quarter worth approximately $6,463,000. 17.58% of the stock is currently owned by institutional investors and hedge funds.

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.