Satellogic (NASDAQ:SATL) Stock Price Down 8.9% - Time to Sell?

Key Points

• Satellogic shares fell 8.9% to about $4.84 in heavy mid-day trading, while volume reached roughly 2.77 million shares—70% below the average daily volume.
• Analyst sentiment remains broadly positive, with an average “Moderate Buy” rating and an $8.90 price target, despite one downgrade to “Sell” and Cantor Fitzgerald lowering its target to $9.00.
• The company exceeded revenue expectations with quarterly revenue of $15.92 million versus $9.57 million expected, but its $0.13 per-share loss was wider than the anticipated $0.03 loss.

Satellogic Inc. (NASDAQ:SATL - Get Free Report) shares traded down 8.9% during mid-day trading on Friday . The stock traded as low as $4.83 and last traded at $4.84. Approximately 2,770,246 shares were traded during trading, a decline of 70% from the average daily volume of 9,208,014 shares. The stock had previously closed at $5.31.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SATL shares. Cantor Fitzgerald dropped 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. Wall Street Zen lowered shares of Satellogic from a "hold" rating to a "sell" rating in a report on Saturday, July 25th. Freedom Capital raised shares of Satellogic from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 29th. Citigroup reiterated an "outperform" rating on shares of Satellogic in a report on Wednesday, May 13th. Finally, Roth Capital reissued a "buy" rating on shares of Satellogic in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $8.90.

Satellogic Price Performance

The company has a market cap of $747.18 million, a PE ratio of -5.93 and a beta of 1.31. The business's 50 day moving average price is $4.82 and its 200-day moving average price is $5.60. 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 analysts' consensus estimates of ($0.03) by ($0.10). The firm had revenue of $15.92 million for the quarter, compared to analyst estimates of $9.57 million. Satellogic had a positive return on equity of 303.84% and a negative net margin of 325.65%. As a group, analysts forecast that Satellogic Inc. will post -0.02 earnings per share for the current year.

Hedge Funds Weigh In On Satellogic

A number of institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in Satellogic by 1,671.4% in the 2nd quarter. Geode Capital Management LLC now owns 874,487 shares of the company's stock valued at $3,166,000 after buying an additional 825,121 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Satellogic during the second quarter worth about $118,000. Legal & General Group Plc acquired a new position in shares of Satellogic in the second quarter worth about $27,000. Rhumbline Advisers acquired a new position in shares of Satellogic in the second quarter worth about $351,000. Finally, New York State Common Retirement Fund purchased a new position in Satellogic in the second quarter valued at about $97,000. 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.

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