Cantor Fitzgerald Has Lowered Expectations for Satellogic (NASDAQ:SATL) Stock Price

Satellogic (NASDAQ:SATL) had its price objective dropped by investment analysts at Cantor Fitzgerald from $10.00 to $9.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 86.72% from the company’s previous close.

Several other equities research analysts also recently issued reports on the stock. Roth Capital reiterated a “buy” rating on shares of Satellogic in a research note on Thursday. Zacks Research upgraded Satellogic from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 10th. Citigroup restated an “outperform” rating on shares of Satellogic in a research note on Wednesday, May 13th. Weiss Ratings raised Satellogic from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Finally, Wall Street Zen downgraded shares of Satellogic from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Two investment 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 company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $8.90.

Satellogic Price Performance

NASDAQ:SATL opened at $4.82 on Thursday. The stock has a market capitalization of $714.52 million, a PE ratio of -6.43 and a beta of 1.31. Satellogic has a 1-year low of $1.25 and a 1-year high of $12.00. The firm has a fifty day simple moving average of $5.42 and a 200 day simple moving average of $5.46. 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 announced its quarterly earnings results on Wednesday, August 5th. 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 443.06% and a negative return on equity of 100.03%. The firm had revenue of $15.92 million during the quarter, compared to analyst estimates of $9.57 million. On average, research analysts expect that Satellogic will post -0.11 EPS for the current fiscal year.

Insider Activity

In related news, CTO Alan Kharsansky sold 87,091 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $8.35, for a total transaction of $727,209.85. Following the transaction, the chief technology officer directly owned 47,785 shares of the company’s stock, valued at approximately $399,004.75. This trade represents a 64.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Liberty 77 Capital L.P. sold 10,000,000 shares of Satellogic stock in a transaction dated 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 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 SEC filing for this sale provides additional information. Corporate insiders own 38.84% of the company’s stock.

Hedge Funds Weigh In On Satellogic

Hedge funds have recently added to or reduced their stakes in the stock. Alyeska Investment Group L.P. bought a new stake in shares of Satellogic during the 4th quarter valued at $16,830,000. Weiss Asset Management LP acquired a new position in Satellogic in the fourth quarter valued at about $4,053,000. Cantor Fitzgerald L. P. raised its stake in 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 purchasing an additional 1,863,696 shares in the last quarter. Tema ETFs LLC bought a new stake in Satellogic during the second quarter worth about $8,640,000. Finally, Renaissance Technologies LLC bought a new stake in Satellogic during the first quarter worth about $6,463,000. 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.