Satellogic (NASDAQ:SATL) Downgraded by Freedom Capital to "Hold"

Key Points

• Freedom Capital downgraded Satellogic from "strong-buy" to "hold," and the stock's consensus rating is now "Hold" with a consensus price target of $5.50 amid mixed analyst coverage.
• Satellogic beat quarterly estimates (EPS $0.17 vs. -$0.06 expected; revenue $6.25M vs. $3.83M expected) but remains unprofitable with negative margins and analysts forecasting -$0.17 EPS for the year.
• An insider, Fitzgerald L. P. Cantor, sold 500,000 shares for about $2.505 million on March 23, while insiders collectively still own 51.62% of the company.

Satellogic (NASDAQ:SATL - Get Free Report) was downgraded by investment analysts at Freedom Capital from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. Loop Capital set a $4.50 price target on shares of Satellogic in a report on Wednesday, March 11th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Satellogic in a report on Thursday, January 22nd. Northland Securities began coverage on shares of Satellogic in a report on Wednesday, February 18th. They issued an "outperform" rating and a $5.50 price target for the company. Wall Street Zen raised shares of Satellogic from a "sell" rating to a "hold" rating in a report on Saturday, March 21st. Finally, Zacks Research raised shares of Satellogic to a "hold" rating in a report on Thursday, February 19th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Satellogic currently has a consensus rating of "Hold" and a consensus price target of $5.50.

Satellogic Trading Down 7.3%

NASDAQ SATL opened at $6.62 on Wednesday. The company has a fifty day simple moving average of $5.33 and a two-hundred day simple moving average of $3.52. The stock has a market cap of $947.06 million, a P/E ratio of -26.48 and a beta of 1.06. Satellogic has a 12-month low of $1.25 and a 12-month high of $8.35. The company has a current ratio of 5.12, a quick ratio of 5.02 and a debt-to-equity ratio of 0.93.

Satellogic (NASDAQ:SATL - Get Free Report) last posted its quarterly earnings results on Thursday, March 19th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.06) by $0.23. The business had revenue of $6.25 million during the quarter, compared to analysts' expectations of $3.83 million. Satellogic had a negative net margin of 27.01% and a negative return on equity of 34.92%. On average, analysts forecast that Satellogic will post -0.17 earnings per share for the current year.

Insider Buying and Selling at Satellogic

In other Satellogic news, insider Fitzgerald L. P. Cantor sold 500,000 shares of Satellogic stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $5.01, for a total transaction of $2,505,000.00. Following the completion of the transaction, the insider owned 12,356,500 shares in the company, valued at approximately $61,906,065. This trade represents a 3.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 51.62% of the company's stock.

Institutional Trading of Satellogic

Hedge funds have recently modified their holdings of the stock. Legal & General Group Plc purchased a new stake in shares of Satellogic in the second quarter worth about $27,000. Farther Finance Advisors LLC acquired a new position in shares of Satellogic in the 3rd quarter valued at $26,000. LMR Partners LLP acquired a new position in shares of Satellogic in the 2nd quarter valued at $30,000. Squarepoint Ops LLC acquired a new position in shares of Satellogic in the 3rd quarter valued at $33,000. Finally, Krilogy Financial LLC acquired a new position in shares of Satellogic in the 1st quarter valued at $60,000. Hedge funds and other institutional investors 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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