Insider Selling: Satellogic (NASDAQ:SATL) CTO Sells 87,091 Shares of Stock

Satellogic Inc. (NASDAQ:SATL) CTO Alan Kharsansky sold 87,091 shares of Satellogic stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $8.35, for a total value of $727,209.85. Following the transaction, the chief technology officer owned 47,785 shares in the company, valued at approximately $399,004.75. This trade represents a 64.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Satellogic Price Performance

Shares of SATL stock traded up $0.06 during mid-day trading on Wednesday, hitting $9.72. 9,679,668 shares of the stock traded hands, compared to its average volume of 10,603,486. Satellogic Inc. has a twelve month low of $1.25 and a twelve month high of $10.19. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of -12.96 and a beta of 1.06. The company’s 50-day simple moving average is $6.22 and its 200-day simple moving average is $3.89. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.41 and a current ratio of 2.44.

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 net margin of 443.06% and a negative return on equity of 100.03%. The firm had revenue of $6.11 million for the quarter. As a group, equities research analysts expect that Satellogic Inc. will post -0.11 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SATL shares. Craig Hallum started coverage on Satellogic in a research report on Wednesday, January 21st. They set a “buy” rating and a $5.00 price target on the stock. Northland Securities set a $9.00 price objective on 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. Loop Capital set a $4.50 price objective on Satellogic in a research note on Wednesday, March 11th. Finally, Zacks Research raised Satellogic to a “hold” rating in a research note on Thursday, February 19th. 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 stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $7.70.

Institutional Investors Weigh In On Satellogic

Several large investors have recently modified their holdings of the stock. ProShare Advisors LLC boosted its stake in shares of Satellogic by 30.2% during the 4th quarter. ProShare Advisors LLC now owns 15,349 shares of the company’s stock worth $29,000 after acquiring an additional 3,561 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Satellogic by 14.0% during the 4th quarter. Invesco Ltd. now owns 46,639 shares of the company’s stock worth $87,000 after acquiring an additional 5,723 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Satellogic by 107.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,613 shares of the company’s stock worth $45,000 after acquiring an additional 7,052 shares in the last quarter. Legal & General Group Plc bought a new stake in shares of Satellogic during the 2nd quarter worth $27,000. Finally, LMR Partners LLP acquired a new stake in shares of Satellogic in the second quarter worth $30,000. 17.58% of the stock is 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.