Royal Bank of Canada Purchases 406,991 Shares of Satellogic Inc. $SATL

Key Points

• Royal Bank of Canada increased its Satellogic stake by 4,052.9% in the first quarter, purchasing 406,991 additional shares and ending with 417,033 shares worth approximately $2.27 million. Institutional investors collectively own 17.58% of SATL.
• Analyst sentiment remains mixed but leans positive, with Satellogic carrying a consensus “Moderate Buy” rating and an $8.90 price target. Ratings range from “Strong Buy” to “Sell,” while Cantor Fitzgerald lowered its target to $9.00.
• Satellogic reported quarterly revenue of $15.92 million, exceeding estimates of $9.57 million, but its adjusted loss of $0.13 per share missed expectations of a $0.03 loss. Shares opened at $5.81, and the company continues to report substantial negative net margins.

Royal Bank of Canada lifted its position in shares of Satellogic Inc. (NASDAQ:SATL - Free Report) by 4,052.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 417,033 shares of the company's stock after purchasing an additional 406,991 shares during the period. Royal Bank of Canada owned 0.29% of Satellogic worth $2,269,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SATL. Alyeska Investment Group L.P. bought a new position in Satellogic during the fourth quarter worth about $16,830,000. Weiss Asset Management LP acquired a new position in Satellogic during the fourth quarter worth approximately $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 buying an additional 1,863,696 shares during the period. Renaissance Technologies LLC bought a new stake in Satellogic in the first quarter valued at approximately $6,463,000. Finally, Millennium Management LLC acquired a new stake in shares of Satellogic in the fourth quarter valued at approximately $2,172,000. 17.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SATL has been the subject of several research analyst reports. Zacks Research downgraded Satellogic from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 10th. Freedom Capital upgraded Satellogic from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 29th. Wall Street Zen downgraded Satellogic from a "hold" rating to a "sell" rating in a report on Saturday, July 25th. Cantor Fitzgerald reduced their price objective on shares of Satellogic from $10.00 to $9.00 and set an "overweight" rating for the company in a research report on Thursday, August 6th. Finally, Citigroup reiterated an "outperform" rating on shares of Satellogic in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Satellogic presently has a consensus rating of "Moderate Buy" and a consensus target price of $8.90.

Insider Buying and Selling

In other Satellogic news, Director Liberty 77 Capital L.P. sold 10,000,000 shares of the company's stock in a transaction 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 transaction, the director directly owned 10,000,000 shares of the company's stock, valued at $97,700,000. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 38.84% of the stock is currently owned by corporate insiders.

Satellogic Trading Up 0.2%

Shares of SATL stock opened at $5.81 on Tuesday. Satellogic Inc. has a 12-month low of $1.25 and a 12-month high of $12.00. The company has a market capitalization of $893.23 million, a PE ratio of -7.09 and a beta of 1.31. The firm has a 50 day moving average price of $4.99 and a two-hundred day moving average price of $5.53. The company has a quick ratio of 2.31, a current ratio of 2.34 and a debt-to-equity ratio of 2.65.

Satellogic (NASDAQ:SATL - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.10). The firm had revenue of $15.92 million during the quarter, compared to analyst estimates of $9.57 million. Satellogic had a negative net margin of 325.65% and a positive return on equity of 303.84%. As a group, analysts predict that Satellogic Inc. will post -0.02 earnings per share for the current year.

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.

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