Satellogic (NASDAQ:SATL) Posts Earnings Results, Misses Estimates By $0.79 EPS

Satellogic (NASDAQ:SATL) released its quarterly earnings results on Monday. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.79), FiscalAI reports. Satellogic had a negative return on equity of 34.92% and a negative net margin of 27.01%.The company had revenue of $6.11 million during the quarter, compared to analysts’ expectations of $5.27 million.

Satellogic Stock Up 14.9%

SATL traded up $1.13 on Monday, hitting $8.70. The company had a trading volume of 16,457,900 shares, compared to its average volume of 10,612,143. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of -34.80 and a beta of 1.06. The company has a debt-to-equity ratio of 0.93, a quick ratio of 5.02 and a current ratio of 5.12. The stock has a fifty day moving average price of $5.33 and a 200-day moving average price of $3.52. Satellogic has a 12-month low of $1.25 and a 12-month high of $8.90.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Northland Securities began coverage on Satellogic in a report on Wednesday, February 18th. They issued an “outperform” rating and a $5.50 target price for the company. Wall Street Zen cut shares of Satellogic from a “hold” rating to a “sell” rating in a research report on Saturday. Loop Capital set a $4.50 target price on shares of Satellogic in a report on Wednesday, March 11th. Zacks Research upgraded shares of Satellogic to a “hold” rating in a report on Thursday, February 19th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Satellogic in a research note on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Satellogic currently has a consensus rating of “Hold” and an average target price of $6.40.

Insider Buying and Selling

In other Satellogic news, insider Fitzgerald L. P. Cantor sold 500,000 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $5.01, for a total value of $2,505,000.00. Following the completion of the sale, the insider directly owned 12,356,500 shares in the company, valued at $61,906,065. This trade represents a 3.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 51.62% of the stock is owned by insiders.

Hedge Funds Weigh In On Satellogic

Several hedge funds have recently made changes to their positions in SATL. The Manufacturers Life Insurance Company acquired a new position in Satellogic in the 2nd quarter worth approximately $87,000. Invesco Ltd. boosted its holdings in shares of Satellogic by 14.0% in the 4th quarter. Invesco Ltd. now owns 46,639 shares of the company’s stock valued at $87,000 after acquiring an additional 5,723 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Satellogic by 107.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 13,613 shares of the company’s stock valued at $45,000 after acquiring an additional 7,052 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Satellogic in the fourth quarter worth $38,000. Finally, Virtu Financial LLC acquired a new stake in shares of Satellogic in the third quarter worth $36,000. 17.58% of the stock is owned by institutional investors and hedge funds.

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.