Satellogic (NASDAQ:SATL) Stock Price Down 6.3% – Here’s Why

Satellogic Inc. (NASDAQ:SATL) shares dropped 6.3% during trading on Monday. The stock traded as low as $4.89 and last traded at $4.8250. 415,824 shares were traded during trading, a decline of 95% from the average session volume of 8,561,381 shares. The stock had previously closed at $5.15.

Analyst Upgrades and Downgrades

SATL has been the subject of several recent research reports. Wall Street Zen downgraded Satellogic from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Satellogic in a research note on Monday, September 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Satellogic in a report on Friday, August 7th. Roth Capital reaffirmed a “buy” rating on shares of Satellogic in a report on Thursday, August 6th. Finally, Freedom Capital upgraded shares of Satellogic from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.90.

Satellogic Price Performance

The firm has a market capitalization of $699.52 million, a PE ratio of -5.55 and a beta of 1.37. The stock’s 50 day simple moving average is $5.29 and its two-hundred day simple moving average is $6.02. The company has a debt-to-equity ratio of 2.65, a quick ratio of 2.31 and a current ratio of 2.34.

Satellogic (NASDAQ:SATL) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.10). Satellogic had a negative net margin of 325.65% and a positive return on equity of 303.84%. The company had revenue of $15.92 million during the quarter, compared to analysts’ expectations of $9.57 million. On average, sell-side analysts forecast that Satellogic Inc. will post -0.02 EPS for the current year.

Hedge Funds Weigh In On Satellogic

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SATL. Veracity Capital LLC grew its holdings in Satellogic by 4.7% in the 3rd quarter. Veracity Capital LLC now owns 62,348 shares of the company’s stock valued at $345,000 after buying an additional 2,772 shares in the last quarter. Tidal Investments LLC acquired a new stake in shares of Satellogic in the 2nd quarter worth $11,613,000. Integrated Wealth Concepts LLC purchased a new position in shares of Satellogic during the 2nd quarter worth $46,000. Allworth Financial LP raised its holdings in shares of Satellogic by 69.4% during the 2nd quarter. Allworth Financial LP now owns 6,214 shares of the company’s stock worth $36,000 after acquiring an additional 2,545 shares during the period. Finally, Arizona State Retirement System acquired a new position in shares of Satellogic during the 2nd quarter valued at about $131,000. Institutional investors and hedge funds own 17.58% of the company’s stock.

Satellogic Company Profile

Satellogic Inc (NASDAQ: SATL) is a geospatial intelligence company that operates a constellation of satellites designed to capture high-resolution imagery of Earth. Its satellites collect multispectral data that can be used to monitor changes in agriculture, infrastructure, natural resources, climate conditions and other areas of interest.

The company provides satellite imagery, tasking services and geospatial data products to government and commercial customers. Its platform is intended to support applications including defense and security, environmental monitoring, mapping, agriculture, energy and infrastructure management.