Satellogic (NASDAQ:SATL) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Satellogic (NASDAQ:SATL) from a hold rating to a sell rating in a research note released on Saturday.

Other research analysts have also issued research reports about the stock. Weiss Ratings upgraded shares of Satellogic from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. Roth Capital increased their price objective on Satellogic from $10.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Zacks Research raised Satellogic from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 10th. Citigroup reissued an “outperform” rating on shares of Satellogic in a research note on Wednesday, May 13th. Finally, Northland Securities set a $11.00 target price on Satellogic in a report on Thursday, May 28th. Two 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 data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $9.10.

Satellogic Price Performance

Shares of NASDAQ SATL opened at $3.54 on Friday. Satellogic has a twelve month low of $1.25 and a twelve month high of $12.00. The company has a current ratio of 2.44, a quick ratio of 2.41 and a debt-to-equity ratio of 0.93. The firm has a 50-day moving average of $6.29 and a two-hundred day moving average of $5.43. The company has a market capitalization of $524.77 million, a price-to-earnings ratio of -4.72 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 (EPS) for the quarter. Satellogic had a negative return on equity of 100.03% and a negative net margin of 443.06%.The business had revenue of $6.11 million during the quarter. As a group, analysts expect that Satellogic will post -0.11 earnings per share for the current fiscal year.

Insider Activity

In other news, CTO Alan Kharsansky sold 87,091 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $8.35, for a total transaction of $727,209.85. Following the sale, the chief technology officer owned 47,785 shares in the company, valued at $399,004.75. The trade was a 64.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 shares were 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 approximately $97,700,000. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 38.84% of the company’s stock.

Hedge Funds Weigh In On Satellogic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SATL. Alyeska Investment Group L.P. purchased a new position in Satellogic during the 4th quarter worth approximately $16,830,000. Weiss Asset Management LP purchased a new stake in shares of Satellogic in the fourth quarter valued at $4,053,000. Cantor Fitzgerald L. P. lifted 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. Tema ETFs LLC acquired a new stake in shares of Satellogic in the second quarter worth $8,640,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Satellogic in the first quarter worth $6,463,000. Institutional investors and hedge funds own 17.58% of the company’s stock.

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.