Satellogic (NASDAQ:SATL) Shares Gap Down After Earnings Miss

Satellogic Inc. (NASDAQ:SATL) shares gapped down prior to trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $8.70, but opened at $7.70. Satellogic shares last traded at $8.0160, with a volume of 2,478,295 shares changing hands.

The company reported ($0.84) earnings per share for the quarter. The business had revenue of $6.11 million for the quarter. Satellogic had a negative net margin of 27.01% and a negative return on equity of 34.92%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Cantor Fitzgerald set a $7.00 price target on Satellogic in a report on Friday, February 20th. Roth Mkm started coverage on Satellogic in a report on Friday. They issued a “buy” rating and a $10.00 target price on the stock. Zacks Research raised Satellogic to a “hold” rating in a research report on Thursday, February 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Satellogic in a report on Thursday, January 22nd. Finally, Freedom Capital lowered Satellogic from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Four 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 company currently has an average rating of “Hold” and a consensus target price of $6.40.

Insider Transactions at Satellogic

In other news, insider Fitzgerald L. P. Cantor sold 500,000 shares of the stock in a transaction on Monday, March 23rd. The stock was 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 owned 12,356,500 shares in the company, valued at $61,906,065. This represents a 3.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 51.62% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Satellogic

A number of institutional investors have recently modified their holdings of the stock. Abel Hall LLC purchased a new position in Satellogic in the fourth quarter valued at about $25,000. StoneX Group Inc. purchased a new stake in shares of Satellogic during the 4th quarter worth about $25,000. Neuberger Berman Group LLC acquired a new stake in shares of Satellogic during the 4th quarter valued at about $25,000. Farther Finance Advisors LLC bought a new stake in shares of Satellogic in the 3rd quarter valued at approximately $26,000. Finally, Legal & General Group Plc bought a new stake in shares of Satellogic in the 2nd quarter valued at approximately $27,000. Institutional investors and hedge funds own 17.58% of the company’s stock.

Satellogic Stock Down 9.1%

The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -31.94 and a beta of 1.06. The business has a fifty day moving average of $5.53 and a 200 day moving average of $3.60. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.12 and a quick ratio of 5.02.

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.