Satellogic (NASDAQ:SATL) Stock Price Down 8.2% – Here’s Why

Satellogic Inc. (NASDAQ:SATL)’s share price fell 8.2% on Wednesday . The stock traded as low as $3.96 and last traded at $3.9550. Approximately 3,349,472 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 10,108,472 shares. The stock had previously closed at $4.31.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SATL shares. Wall Street Zen upgraded shares of Satellogic from a “sell” rating to a “hold” rating in a report on Sunday. Zacks Research raised shares of Satellogic from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 10th. Freedom Capital raised Satellogic from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 29th. Weiss Ratings upgraded Satellogic from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Satellogic in a research report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Satellogic has a consensus rating of “Buy” and an average target price of $9.10.

Satellogic Trading Down 8.7%

The business’s 50-day moving average is $7.10 and its two-hundred day moving average is $5.32. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.44 and a quick ratio of 2.41. The firm has a market cap of $583.47 million, a P/E ratio of -5.26 and a beta of 1.26.

Satellogic (NASDAQ:SATL) last announced 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. As a group, analysts predict that Satellogic Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Satellogic

In other news, Director Liberty 77 Capital L.P. sold 10,000,000 shares of Satellogic stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $9.77, for a total value of $97,700,000.00. Following the completion of the transaction, the director owned 10,000,000 shares of the company’s stock, valued at $97,700,000. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Alan Kharsansky sold 87,091 shares of the business’s stock in a transaction dated 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 in the company, valued at $399,004.75. This represents a 64.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 38.84% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tema ETFs LLC bought a new stake in Satellogic in the 2nd quarter valued at $8,640,000. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Satellogic during the 2nd quarter worth about $402,000. Bank of America Corp DE boosted its holdings in shares of Satellogic by 29.8% during the 1st quarter. Bank of America Corp DE now owns 72,832 shares of the company’s stock worth $396,000 after buying an additional 16,707 shares during the period. MSA Advisors LLC acquired a new position in Satellogic in the 1st quarter valued at about $143,000. Finally, Royal Bank of Canada raised its holdings in Satellogic by 4,052.9% in the 1st 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. 17.58% of the stock is currently owned by institutional investors.

Satellogic Company 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.