Satellogic (NASDAQ:SATL) Rating Lowered to Sell at Wall Street Zen

Satellogic (NASDAQ:SATL) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Several other research analysts have also recently issued reports on the company. Northland Securities set a $11.00 price target on Satellogic in a report on Thursday, May 28th. Citigroup restated an “outperform” rating on shares of Satellogic in a report on Wednesday, May 13th. Weiss Ratings upgraded shares of Satellogic from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. Roth Capital raised their price objective on shares of Satellogic from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Finally, Freedom Capital upgraded shares of Satellogic from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Satellogic has an average rating of “Buy” and a consensus price target of $9.10.

Satellogic Stock Performance

Shares of SATL opened at $3.59 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.44 and a quick ratio of 2.41. The firm’s 50 day moving average is $6.41 and its 200-day moving average is $5.42. Satellogic has a 12-month low of $1.25 and a 12-month high of $12.00. The stock has a market capitalization of $532.18 million, a P/E ratio of -4.79 and a beta of 1.26.

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

Insider Activity

In other news, Director Liberty 77 Capital L.P. sold 10,000,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $9.77, for a total value of $97,700,000.00. Following the completion of the sale, the director directly owned 10,000,000 shares of the company’s stock, valued at $97,700,000. This represents a 50.00% 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 this link. Also, CTO Alan Kharsansky sold 87,091 shares of the firm’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 transaction of $727,209.85. Following the sale, the chief technology officer owned 47,785 shares of the company’s stock, valued at approximately $399,004.75. This represents a 64.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 38.84% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Cantor Fitzgerald L. P. lifted its position in Satellogic by 16.2% in the 4th quarter. Cantor Fitzgerald L. P. now owns 13,380,873 shares of the company’s stock worth $25,022,000 after buying an additional 1,863,696 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of Satellogic during the 4th quarter valued at $16,830,000. Vanguard Group Inc. grew its holdings in shares of 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 acquiring an additional 1,002,400 shares in the last quarter. Weiss Asset Management LP purchased a new position in shares of 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. Institutional investors and hedge funds own 17.58% of the company’s stock.

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.