Wall Street Zen Downgrades Satellogic (NASDAQ:SATL) to Sell

Key Points

• Wall Street Zen lowered Satellogic from “hold” to “sell,” adding to a mixed analyst picture that now includes four Buy ratings, two Holds, and one Sell.
• The stock has seen other recent analyst action too, with Roth Mkm initiating coverage at Buy and a $10 target, while MarketBeat says the overall average rating is Hold with a $6.40 target price.
• Satellogic recently beat quarterly expectations, reporting $0.17 EPS versus an expected loss and revenue of $6.25 million, but it still posted negative margins and analysts expect a loss for the full year.

Satellogic (NASDAQ:SATL - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.

Several other brokerages have also weighed in on SATL. Roth Mkm assumed coverage on Satellogic in a research report on Friday. They set a "buy" rating and a $10.00 target price on the stock. Cantor Fitzgerald set a $7.00 target price on Satellogic in a research report on Friday, February 20th. Zacks Research upgraded Satellogic to a "hold" rating in a research note on Thursday, February 19th. Craig Hallum initiated coverage on Satellogic in a research note on Wednesday, January 21st. They set a "buy" rating and a $5.00 price target on the stock. Finally, Freedom Capital downgraded Satellogic from a "strong-buy" rating to a "hold" rating in a research note on Wednesday. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $6.40.

Satellogic Stock Performance

NASDAQ SATL opened at $7.57 on Friday. The stock has a market cap of $1.08 billion, a PE ratio of -30.28 and a beta of 1.06. 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 has a twelve month low of $1.25 and a twelve month high of $8.35. The stock has a fifty day simple moving average of $5.33 and a 200-day simple moving average of $3.52.

Satellogic (NASDAQ:SATL - Get Free Report) last posted its earnings results on Thursday, March 19th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.23. The firm had revenue of $6.25 million for the quarter, compared to analyst estimates of $3.83 million. Satellogic had a negative return on equity of 34.92% and a negative net margin of 27.01%. Equities analysts anticipate 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 that occurred on Monday, March 23rd. The stock was sold at an average price of $5.01, for a total value of $2,505,000.00. Following the transaction, the insider directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 51.62% of the company's stock.

Institutional Trading of Satellogic

Several hedge funds have recently modified their holdings of the business. Legal & General Group Plc acquired a new position in Satellogic during the second quarter worth $27,000. Farther Finance Advisors LLC acquired a new position in shares of Satellogic in the third quarter worth $26,000. LMR Partners LLP acquired a new position in shares of Satellogic in the second quarter worth $30,000. Squarepoint Ops LLC acquired a new position in shares of Satellogic in the third quarter worth $33,000. Finally, Krilogy Financial LLC acquired a new position in shares of Satellogic in the first quarter worth $60,000. 17.58% of the stock is owned by institutional investors and hedge funds.

About Satellogic

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.