Satellogic (NASDAQ:SATL) Trading Down 6.6% – Time to Sell?

Satellogic Inc. (NASDAQ:SATL)’s stock price was down 6.6% during mid-day trading on Thursday . The stock traded as low as $5.62 and last traded at $5.7650. Approximately 1,616,647 shares traded hands during trading, a decline of 85% from the average daily volume of 10,460,856 shares. The stock had previously closed at $6.17.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SATL shares. Roth Mkm upped their target price on Satellogic from $10.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Freedom Capital lowered Satellogic from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Zacks Research raised Satellogic to a “hold” rating in a research report on Thursday, February 19th. Loop Capital set a $4.50 target price on Satellogic in a research report on Wednesday, March 11th. Finally, Weiss Ratings raised Satellogic from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. Five investment 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 presently has an average rating of “Moderate Buy” and an average price target of $9.10.

Satellogic Stock Down 5.1%

The company has a market cap of $867.97 million, a price-to-earnings ratio of -7.79 and a beta of 1.19. The business has a fifty day moving average of $7.76 and a two-hundred day moving average of $4.88. 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 issued its quarterly earnings results on Tuesday, March 31st. The company reported ($0.84) earnings per share (EPS) for the quarter. The business 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%. As a group, equities analysts anticipate that Satellogic Inc. will post -0.11 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Liberty 77 Capital L.P. sold 10,000,000 shares of Satellogic stock in a transaction that occurred 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 transaction, the director owned 10,000,000 shares in the company, valued at approximately $97,700,000. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Fitzgerald L. P. Cantor sold 500,000 shares of Satellogic stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $5.01, for a total value of $2,505,000.00. Following the transaction, the insider owned 12,356,500 shares in the company, valued at approximately $61,906,065. The trade was a 3.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 10,587,091 shares of company stock worth $100,932,210. 38.84% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Satellogic

A number of institutional investors have recently modified their holdings of SATL. Alyeska Investment Group L.P. acquired a new stake in shares of Satellogic in the fourth quarter valued at $16,830,000. Weiss Asset Management LP acquired a new stake in shares of Satellogic in the fourth quarter valued at $4,053,000. Cantor Fitzgerald L. P. grew its stake in shares of Satellogic by 16.2% in the fourth quarter. Cantor Fitzgerald L. P. now owns 13,380,873 shares of the company’s stock valued at $25,022,000 after buying an additional 1,863,696 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Satellogic in the first quarter valued at $6,463,000. Finally, Millennium Management LLC acquired a new stake in shares of Satellogic in the fourth quarter valued at $2,172,000. 17.58% of the stock is 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.