Satellogic (NASDAQ:SATL) Shares Down 8.2% - What's Next?

Key Points

• Satellogic shares fell 8.2% on Wednesday, trading as low as $3.96 after closing at $4.31 the previous day, with volume well below average.
• Despite the drop, analysts remain generally bullish: the stock has a consensus Buy rating and a price target of $9.10, with several firms recently reiterating or raising positive views.
• The company reported weak financial results in its latest quarter, including a loss of $0.84 per share and $6.11 million in revenue, while recent insider sales and mixed institutional activity have added to investor attention.

Satellogic Inc. (NASDAQ:SATL - Get Free Report) shares were down 8.2% on Wednesday . The stock traded as low as $3.96 and last traded at $3.9550. 3,349,472 shares were traded during mid-day trading, a decline of 67% from the average session volume of 10,108,472 shares. The stock had previously closed at $4.31.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SATL. Weiss Ratings raised shares of Satellogic from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, May 13th. Citigroup reaffirmed an "outperform" rating on shares of Satellogic in a research note on Wednesday, May 13th. Roth Capital lifted their target price on shares of Satellogic from $10.00 to $15.00 and gave the company a "buy" rating in a research note on Wednesday, May 27th. Wall Street Zen raised Satellogic from a "sell" rating to a "hold" rating in a report on Sunday. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Satellogic in a research note on Monday, June 15th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $9.10.

Satellogic Stock Performance

The firm's 50-day moving average price is $7.10 and its 200 day moving average price is $5.32. The company has a market cap of $583.47 million, a price-to-earnings ratio of -5.26 and a beta of 1.26. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.41 and a current ratio of 2.44.

Satellogic (NASDAQ:SATL - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The company reported ($0.84) earnings per share (EPS) for the quarter. Satellogic had a negative return on equity of 100.03% and a negative net margin of 443.06%.The company had revenue of $6.11 million during the quarter. On average, sell-side analysts anticipate that Satellogic Inc. will post -0.11 EPS for the current year.

Insider Buying and Selling

In other Satellogic news, CTO Alan Kharsansky sold 87,091 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $8.35, for a total value of $727,209.85. Following the completion of the sale, the chief technology officer owned 47,785 shares of the company's stock, valued at approximately $399,004.75. This represents a 64.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Liberty 77 Capital L.P. sold 10,000,000 shares of Satellogic stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $9.77, for a total transaction of $97,700,000.00. Following the transaction, the director directly owned 10,000,000 shares in the company, valued at approximately $97,700,000. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 38.84% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SATL. Geode Capital Management LLC increased its holdings in shares of Satellogic by 1,671.4% in the second quarter. Geode Capital Management LLC now owns 874,487 shares of the company's stock worth $3,166,000 after acquiring an additional 825,121 shares in the last quarter. JPMorgan Chase & Co. bought a new position in shares of Satellogic during the 2nd quarter valued at about $118,000. Legal & General Group Plc acquired a new position in shares of Satellogic in the 2nd quarter valued at approximately $27,000. Rhumbline Advisers acquired a new position in shares of Satellogic in the 2nd quarter valued at approximately $351,000. Finally, New York State Common Retirement Fund bought a new stake in Satellogic during the 2nd quarter worth approximately $97,000. 17.58% of the stock is currently owned by institutional investors.

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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