Satellogic (NASDAQ:SATL) Shares Down 4.4% - Here's What Happened

Key Points

• Satellogic shares fell 4.4% to $3.775, with trading volume down 89% from the average session. The stock remains below its 50-day and 200-day moving averages of $4.97 and $5.27, respectively.
• Analyst sentiment is mixed: Zacks and Wall Street Zen downgraded the stock, while Roth Capital and Cantor Fitzgerald maintained positive ratings. Overall, Satellogic has a “Moderate Buy” consensus rating and an average price target of $8.90.
• In its latest quarter, Satellogic reported revenue of $15.92 million, exceeding expectations of $9.57 million, but its loss of $0.13 per share was wider than the expected $0.03 loss. Several institutional investors recently initiated or increased positions, with institutions owning 17.58% of the company.

Shares of Satellogic Inc. (NASDAQ:SATL - Get Free Report) fell 4.4% on Wednesday. The stock traded as low as $3.82 and last traded at $3.7750. 901,005 shares were traded during trading, a decline of 89% from the average session volume of 8,303,370 shares. The stock had previously closed at $3.95.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Zacks Research lowered Satellogic from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 10th. Roth Capital reiterated a "buy" rating on shares of Satellogic in a research note on Thursday, August 6th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Satellogic in a research note on Monday, September 21st. Weiss Ratings reissued a "sell (d-)" rating on shares of Satellogic in a research report on Friday, August 7th. Finally, Wall Street Zen lowered shares of Satellogic from a "hold" rating to a "sell" rating in a research note on Saturday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $8.90.

Satellogic Stock Performance

The firm has a market capitalization of $577.29 million, a price-to-earnings ratio of -4.58 and a beta of 1.37. The firm's 50 day simple moving average is $4.97 and its 200 day simple moving average is $5.27.

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 company had revenue of $15.92 million during the quarter, compared to analysts' expectations of $9.57 million. As a group, sell-side analysts forecast that Satellogic Inc. will post -0.02 earnings per share for the current year.

Institutional Trading of Satellogic

Several large investors have recently bought and sold shares of the business. Tidal Investments LLC purchased a new position in Satellogic during the second quarter worth about $11,613,000. Tema ETFs LLC purchased a new stake in Satellogic in the second quarter valued at $8,640,000. Renaissance Technologies LLC purchased a new stake in Satellogic in the first quarter valued at $6,463,000. Royal Bank of Canada lifted its stake in shares of Satellogic by 4,052.9% in the 1st quarter. Royal Bank of Canada now owns 417,033 shares of the company's stock valued at $2,269,000 after purchasing an additional 406,991 shares during the last quarter. Finally, Sei Investments Co. acquired a new position in shares of Satellogic in the 1st quarter valued at $1,607,000. Hedge funds and other institutional investors own 17.58% of the company's stock.

About Satellogic

Satellogic Inc is a geospatial intelligence company that designs, manufactures and operates a constellation of Earth observation satellites. Its satellites collect high-resolution, multispectral imagery intended to help customers monitor changes on the planet's surface, including activity related to agriculture, infrastructure, natural resources, climate and national security.

The company provides access to satellite imagery, analytics and related data products through its platform. Satellogic also offers satellite-as-a-service and sovereign constellation solutions, allowing government and commercial customers to obtain dedicated Earth observation capabilities and build applications based on frequently updated geospatial data.

Founded in 2010 by Emiliano Kargieman, Satellogic is headquartered in Montevideo, Uruguay, and serves customers in multiple international markets.

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