Satellogic (NASDAQ:SATL) Shares Down 4.4% – Here’s Why

Satellogic Inc. (NASDAQ:SATL) shares dropped 4.4% during trading on Wednesday. The company traded as low as $3.82 and last traded at $3.7750. 901,005 shares changed hands during trading, a decline of 89% from the average daily volume of 8,303,370 shares. The stock had previously closed at $3.95.

Analyst Ratings Changes

Several research firms recently weighed in on SATL. Weiss Ratings reissued a “sell (d-)” rating on shares of Satellogic in a research report on Friday, August 7th. Roth Capital reissued a “buy” rating on shares of Satellogic in a research note on Thursday, August 6th. Wall Street Zen lowered 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 report on Monday, September 21st. Finally, Zacks Research downgraded shares of Satellogic from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. 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 given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $8.90.

Satellogic Price Performance

The stock has a market cap of $574.99 million, a price-to-earnings ratio of -4.56 and a beta of 1.37. The company has a debt-to-equity ratio of 2.65, a quick ratio of 2.31 and a current ratio of 2.34. The company has a 50-day simple moving average of $4.90 and a two-hundred day simple moving average of $5.28.

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

Institutional Trading of Satellogic

A number of large investors have recently added to or reduced their stakes in SATL. Trueblood Wealth Management LLC bought a new position in Satellogic in the third quarter valued at $55,000. SBI Securities Co. Ltd. raised its position in Satellogic by 23.4% in the 3rd quarter. SBI Securities Co. Ltd. now owns 16,005 shares of the company’s stock worth $89,000 after buying an additional 3,035 shares during the last quarter. Hidden Cove Wealth Management LLC grew its holdings in shares of Satellogic by 21.6% in the third quarter. Hidden Cove Wealth Management LLC now owns 38,545 shares of the company’s stock worth $213,000 after acquiring an additional 6,843 shares during the period. Counterpoint Mutual Funds LLC bought a new stake in shares of Satellogic during the 3rd quarter valued at $749,000. Finally, Veracity Capital LLC increased its stake in Satellogic by 4.7% in the 3rd quarter. Veracity Capital LLC now owns 62,348 shares of the company’s stock worth $345,000 after buying an additional 2,772 shares in the last quarter. Hedge funds and other institutional investors own 17.58% of the company’s stock.

About Satellogic

Satellogic Inc is a geospatial intelligence company that designs, manufactures and operates a constellation of Earth observation satellites. Its satellites collect high-resolution, multispectral imagery intended to help customers monitor changes on the planet’s surface, including activity related to agriculture, infrastructure, natural resources, climate and national security.

The company provides access to satellite imagery, analytics and related data products through its platform. Satellogic also offers satellite-as-a-service and sovereign constellation solutions, allowing government and commercial customers to obtain dedicated Earth observation capabilities and build applications based on frequently updated geospatial data.

Founded in 2010 by Emiliano Kargieman, Satellogic is headquartered in Montevideo, Uruguay, and serves customers in multiple international markets.