Satellogic (NASDAQ:SATL) Stock Price Down 4.2% – Should You Sell?

Satellogic Inc. (NASDAQ:SATL) shares fell 4.2% during mid-day trading on Tuesday . The company traded as low as $6.69 and last traded at $6.6960. 1,143,385 shares were traded during trading, a decline of 89% from the average session volume of 10,520,494 shares. The stock had previously closed at $6.99.

Analyst Ratings Changes

A number of research firms have issued reports on SATL. Freedom Capital downgraded shares of Satellogic from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Zacks Research raised shares of Satellogic to a “hold” rating in a report on Thursday, February 19th. Northland Securities set a $11.00 target price on Satellogic in a research note on Thursday, May 28th. Roth Mkm lifted their target price on Satellogic from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Finally, Weiss Ratings upgraded Satellogic from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $9.10.

Satellogic Stock Down 2.2%

The stock has a 50 day moving average of $7.73 and a 200-day moving average of $4.70. The firm has a market capitalization of $930.95 million, a P/E ratio of -8.37 and a beta of 1.19. 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 announced its quarterly earnings data 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 during the quarter. Research analysts predict that Satellogic Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Activity at Satellogic

In related news, Director Liberty 77 Capital L.P. sold 10,000,000 shares of the business’s stock in a transaction dated 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 sale, the director directly owned 10,000,000 shares in the company, valued at approximately $97,700,000. The trade was a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Fitzgerald L. P. Cantor sold 500,000 shares of the company’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $5.01, for a total value of $2,505,000.00. Following the sale, the insider owned 12,356,500 shares in the company, valued at approximately $61,906,065. This represents a 3.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 10,587,091 shares of company stock worth $100,932,210. Company insiders own 38.84% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE grew its holdings in shares of Satellogic by 29.8% during the first quarter. Bank of America Corp DE now owns 72,832 shares of the company’s stock worth $396,000 after purchasing an additional 16,707 shares in the last quarter. MSA Advisors LLC purchased a new position in shares of Satellogic during the first quarter worth about $143,000. Royal Bank of Canada grew its holdings in shares of Satellogic by 4,052.9% during the first quarter. Royal Bank of Canada now owns 417,033 shares of the company’s stock worth $2,269,000 after purchasing an additional 406,991 shares in the last quarter. Themes Management Co LLC purchased a new position in shares of Satellogic during the first quarter worth about $121,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Satellogic during the first quarter valued at approximately $6,463,000. Hedge funds and other 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.