Satellogic (NASDAQ:SATL) Releases Quarterly Earnings Results

Satellogic (NASDAQ:SATL) issued its quarterly earnings data on Monday. The company reported ($0.02) earnings per share for the quarter, Zacks reports.

Satellogic Trading Down 3.0%

Shares of NASDAQ SATL traded down $0.05 during midday trading on Monday, reaching $1.60. The company’s stock had a trading volume of 2,098,990 shares, compared to its average volume of 1,923,755. Satellogic has a one year low of $0.98 and a one year high of $5.49. The company has a market cap of $195.76 million, a price-to-earnings ratio of -7.27 and a beta of 1.37. The company has a 50 day moving average price of $3.09 and a 200 day moving average price of $3.46.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Satellogic in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Insider Transactions at Satellogic

In other news, CEO Emiliano Kargieman sold 283,121 shares of the business’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $4.08, for a total transaction of $1,155,133.68. Following the transaction, the chief executive officer directly owned 1,323,482 shares in the company, valued at $5,399,806.56. The trade was a 17.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Rick Dunn sold 22,692 shares of the firm’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $3.80, for a total value of $86,229.60. Following the sale, the chief financial officer directly owned 134,451 shares of the company’s stock, valued at $510,913.80. This trade represents a 14.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,748,359 shares of company stock valued at $6,883,879 over the last ninety days. Insiders own 51.62% of the company’s stock.

Hedge Funds Weigh In On Satellogic

A number of hedge funds have recently added to or reduced their stakes in SATL. Legal & General Group Plc acquired a new stake in Satellogic in the second quarter valued at approximately $27,000. LMR Partners LLP bought a new stake in Satellogic in the second quarter worth $30,000. The Manufacturers Life Insurance Company acquired a new position in Satellogic during the second quarter worth $87,000. Bank of America Corp DE bought a new position in Satellogic during the second quarter valued at about $88,000. Finally, New York State Common Retirement Fund bought a new position in Satellogic during the second quarter valued at about $97,000. Institutional investors and hedge funds 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.