Insider Selling: Satellogic (NASDAQ:SATL) CTO Sells $727,209.85 in Stock

Satellogic Inc. (NASDAQ:SATL) CTO Alan Kharsansky sold 87,091 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was 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 $399,004.75. This trade represents a 64.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Satellogic Stock Performance

SATL opened at $10.61 on Friday. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of -14.15 and a beta of 1.06. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.44 and a quick ratio of 2.41. Satellogic Inc. has a 1-year low of $1.25 and a 1-year high of $10.64. The business has a 50 day moving average price of $6.63 and a two-hundred day moving average price of $4.05.

Satellogic (NASDAQ:SATL) last released its earnings results on Tuesday, March 31st. The company reported ($0.84) earnings per share for the quarter. The firm had revenue of $6.11 million during the quarter. Satellogic had a negative return on equity of 100.03% and a negative net margin of 443.06%. Research analysts predict that Satellogic Inc. will post -0.11 EPS for the current fiscal year.

Institutional Trading of Satellogic

Several large investors have recently added to or reduced their stakes in the company. Cantor Fitzgerald L. P. raised its stake in Satellogic by 16.2% during the 4th quarter. Cantor Fitzgerald L. P. now owns 13,380,873 shares of the company’s stock valued at $25,022,000 after purchasing an additional 1,863,696 shares during the period. Alyeska Investment Group L.P. acquired a new stake in Satellogic during the 4th quarter valued at $16,830,000. Vanguard Group Inc. raised its stake in Satellogic by 44.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,262,216 shares of the company’s stock valued at $10,700,000 after purchasing an additional 1,002,400 shares during the period. Weiss Asset Management LP acquired a new stake in Satellogic during the 4th quarter valued at $4,053,000. Finally, Geode Capital Management LLC increased its stake in shares of Satellogic by 34.5% in the fourth quarter. Geode Capital Management LLC now owns 1,807,737 shares of the company’s stock worth $3,381,000 after acquiring an additional 463,811 shares during the last quarter. 17.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on SATL. Freedom Capital downgraded Satellogic from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Northland Securities set a $9.00 price objective on Satellogic in a research report on Wednesday, May 13th. Cantor Fitzgerald increased their price objective on Satellogic from $7.00 to $10.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. Loop Capital set a $4.50 price objective on Satellogic in a research report on Wednesday, March 11th. Finally, Roth Mkm began coverage on Satellogic in a research report on Friday, May 8th. They set a “buy” rating and a $10.00 price objective for the company. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.70.

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.