Caitong International Asset Management Co. Ltd Boosts Holdings in Satellogic Inc. $SATL

Caitong International Asset Management Co. Ltd boosted its stake in shares of Satellogic Inc. (NASDAQ:SATL) by 223,650.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 277,450 shares of the company’s stock after purchasing an additional 277,326 shares during the period. Caitong International Asset Management Co. Ltd’s holdings in Satellogic were worth $519,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. ProShare Advisors LLC lifted its holdings in shares of Satellogic by 30.2% in the 4th quarter. ProShare Advisors LLC now owns 15,349 shares of the company’s stock valued at $29,000 after buying an additional 3,561 shares during the period. Invesco Ltd. boosted its stake in shares of Satellogic by 14.0% in the fourth quarter. Invesco Ltd. now owns 46,639 shares of the company’s stock worth $87,000 after buying an additional 5,723 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Satellogic by 107.5% in the third quarter. BNP Paribas Financial Markets now owns 13,613 shares of the company’s stock worth $45,000 after buying an additional 7,052 shares during the last quarter. Legal & General Group Plc acquired a new stake in Satellogic during the second quarter worth about $27,000. Finally, LMR Partners LLP acquired a new stake in Satellogic during the second quarter worth about $30,000. Hedge funds and other institutional investors own 17.58% of the company’s stock.

Satellogic Stock Performance

NASDAQ:SATL opened at $6.03 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 has a market capitalization of $893.89 million, a price-to-earnings ratio of -8.04 and a beta of 1.19. The company’s 50-day moving average is $7.72 and its two-hundred day moving average is $4.92. Satellogic Inc. has a 1-year low of $1.25 and a 1-year high of $12.00.

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

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Freedom Capital cut Satellogic from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Northland Securities set a $11.00 price objective on Satellogic in a research report on Thursday, May 28th. Loop Capital set a $4.50 price objective on shares of Satellogic in a research note on Wednesday, March 11th. Weiss Ratings raised shares of Satellogic from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Satellogic in a research note on Monday. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $9.10.

Insider Buying and Selling at Satellogic

In other Satellogic news, CTO Alan Kharsansky sold 87,091 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $8.35, for a total value of $727,209.85. Following the transaction, the chief technology officer owned 47,785 shares of the company’s stock, valued at $399,004.75. This represents a 64.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Liberty 77 Capital L.P. sold 10,000,000 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $9.77, for a total transaction of $97,700,000.00. Following the transaction, the director directly owned 10,000,000 shares of the company’s stock, valued at approximately $97,700,000. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 10,587,091 shares of company stock valued at $100,932,210 over the last 90 days. 38.84% of the stock is owned by insiders.

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.