Satellogic (NASDAQ:SATL) Downgraded by Zacks Research to “Hold”

Satellogic (NASDAQ:SATL) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

A number of other research analysts have also recently commented on SATL. Northland Securities set a $11.00 target price on Satellogic in a research note on Thursday, May 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Satellogic in a report on Friday. Freedom Capital raised Satellogic from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 29th. Roth Capital reissued a “buy” rating on shares of Satellogic in a research report on Thursday, August 6th. Finally, Cantor Fitzgerald reduced their target price on shares of Satellogic from $10.00 to $9.00 and set an “overweight” rating on the stock in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have assigned 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, Satellogic currently has an average rating of “Moderate Buy” and a consensus price target of $8.90.

Satellogic Price Performance

SATL stock opened at $5.75 on Monday. The company has a debt-to-equity ratio of 2.65, a current ratio of 2.34 and a quick ratio of 2.31. Satellogic has a 1 year low of $1.25 and a 1 year high of $12.00. The firm has a 50-day moving average of $5.12 and a 200 day moving average of $5.51. The company has a market cap of $852.38 million, a P/E ratio of -7.01 and a beta of 1.31.

Satellogic (NASDAQ:SATL) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $15.92 million for the quarter, compared to the consensus estimate of $9.57 million. On average, sell-side analysts forecast that Satellogic will post -0.02 EPS for the current year.

Insider Activity at Satellogic

In related news, 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 sale, the chief technology officer owned 47,785 shares in the company, valued at $399,004.75. This represents a 64.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Liberty 77 Capital L.P. sold 10,000,000 shares of the firm’s 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 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. The disclosure for this sale is available in the SEC filing. Corporate insiders own 38.84% of the company’s stock.

Hedge Funds Weigh In On Satellogic

Several large investors have recently modified their holdings of the stock. Alyeska Investment Group L.P. bought a new stake in Satellogic during the 4th quarter valued at about $16,830,000. Weiss Asset Management LP bought a new position in shares of Satellogic in the fourth quarter worth approximately $4,053,000. Cantor Fitzgerald L. P. lifted its stake in shares of Satellogic by 16.2% in the fourth 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. Tema ETFs LLC purchased a new stake in shares of Satellogic during the second quarter valued at approximately $8,640,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Satellogic during the first quarter valued at approximately $6,463,000. Hedge funds and other institutional investors 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.