Sei Investments Co. Acquires Shares of 295,470 Satellogic Inc. $SATL

Sei Investments Co. acquired a new stake in shares of Satellogic Inc. (NASDAQ:SATL) in the 1st quarter, Holdings Channel.com reports. The fund acquired 295,470 shares of the company’s stock, valued at approximately $1,607,000.

A number of other institutional investors have also recently made changes to their positions in the company. Alyeska Investment Group L.P. purchased a new stake in shares of Satellogic during the 4th quarter worth approximately $16,830,000. Weiss Asset Management LP purchased a new position in shares of Satellogic in the fourth quarter valued at $4,053,000. Cantor Fitzgerald L. P. grew its holdings 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 purchasing an additional 1,863,696 shares in the last quarter. Millennium Management LLC bought a new stake in Satellogic in the fourth quarter worth $2,172,000. Finally, Vanguard Group Inc. raised its stake in Satellogic by 44.4% during the third quarter. Vanguard Group Inc. now owns 3,262,216 shares of the company’s stock valued at $10,700,000 after purchasing an additional 1,002,400 shares in the last quarter. Hedge funds and other institutional investors own 17.58% of the company’s stock.

Insider Activity at Satellogic

In other news, Director Liberty 77 Capital L.P. sold 10,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $9.77, for a total value of $97,700,000.00. Following the completion of the sale, the director directly owned 10,000,000 shares in the company, valued at $97,700,000. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 directly owned 47,785 shares of the company’s stock, valued at $399,004.75. This trade represents a 64.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 38.84% of the stock is currently owned by insiders.

Satellogic Price Performance

NASDAQ SATL opened at $5.33 on Tuesday. The firm’s fifty day simple moving average is $5.18 and its two-hundred day simple moving average is $5.49. The firm has a market capitalization of $790.12 million, a P/E ratio of -6.50 and a beta of 1.31. The company has a current ratio of 2.34, a quick ratio of 2.31 and a debt-to-equity ratio of 2.65. Satellogic Inc. has a 12-month low of $1.25 and a 12-month high of $12.00.

Satellogic (NASDAQ:SATL) last released its earnings results on Wednesday, August 5th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.10). The company had revenue of $15.92 million for the quarter, compared to analysts’ expectations of $9.57 million. Satellogic had a positive return on equity of 303.84% and a negative net margin of 325.65%. Analysts forecast that Satellogic Inc. will post -0.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SATL shares. Zacks Research upgraded Satellogic from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 10th. Cantor Fitzgerald dropped their target price on Satellogic from $10.00 to $9.00 and set an “overweight” rating for the company in a report on Thursday, August 6th. Citigroup reissued an “outperform” rating on shares of Satellogic in a research report on Wednesday, May 13th. Northland Securities set a $11.00 price target on Satellogic in a report on Thursday, May 28th. Finally, Roth Capital restated a “buy” rating on shares of Satellogic in a research report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $8.90.

Satellogic 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.