Satellogic (NASDAQ:SATL) Earns "Sell (D-)" Rating from Weiss Ratings

Key Points

• Satellogic (NASDAQ: SATL) has received a "Sell (D-)" rating by Weiss Ratings, which reflects concerns regarding its stock performance.
• The company's stock recently traded at $4.04, an increase of 11.3%, while it has had a 12-month low of $0.93 and a high of $5.49.
• Insider transactions show significant selling activity, with CEO Emiliano Kargieman reducing his holdings by 16.37%, indicating a potential lack of confidence in the company's near-term outlook.

Satellogic (NASDAQ:SATL - Get Free Report)'s stock had its "sell (d-)" rating reiterated by investment analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Satellogic Trading Up 11.3%

Shares of SATL stock opened at $4.04 on Wednesday. The stock has a 50-day moving average price of $3.56 and a 200 day moving average price of $3.65. Satellogic has a 12 month low of $0.93 and a 12 month high of $5.49.

Satellogic (NASDAQ:SATL - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.06) EPS for the quarter. The company had revenue of $4.44 million during the quarter.

Insiders Place Their Bets

In other Satellogic news, CEO Emiliano Kargieman sold 435,956 shares of the firm's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $3.94, for a total transaction of $1,717,666.64. Following the transaction, the chief executive officer owned 2,226,793 shares in the company, valued at approximately $8,773,564.42. This trade represents a 16.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Matthew Tirman sold 29,073 shares of the firm's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $3.45, for a total value of $100,301.85. Following the transaction, the president owned 99,162 shares in the company, valued at approximately $342,108.90. This trade represents a 22.67% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,051,895 shares of company stock worth $4,044,419. Insiders own 63.71% of the company's stock.

Hedge Funds Weigh In On Satellogic

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. bought a new position in Satellogic during the second quarter worth about $25,000. Legal & General Group Plc bought a new position in Satellogic during the second quarter worth about $27,000. LMR Partners LLP bought a new position in Satellogic during the second quarter worth about $30,000. ProShare Advisors LLC bought a new position in shares of Satellogic during the 2nd quarter valued at about $51,000. Finally, Police & Firemen s Retirement System of New Jersey bought a new position in shares of Satellogic during the 2nd quarter valued at about $58,000. Institutional investors own 17.58% of the company's stock.

About Satellogic

Satellogic Inc operates as an integrated geospatial company in the Asia Pacific, North America, and internationally. It engages in tasking satellites with monitoring assets and keeping up with their changing reality for government and commercial customers; control satellites on top of specific areas of interest for governments; and sale and support satellites.

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