Satellogic (NASDAQ:SATL) Shares Down 10.5% – Should You Sell?

Satellogic Inc. (NASDAQ:SATL) shares fell 10.5% during mid-day trading on Friday . The stock traded as low as $5.66 and last traded at $5.7470. 6,025,608 shares changed hands during mid-day trading, a decline of 41% from the average session volume of 10,216,254 shares. The stock had previously closed at $6.42.

Wall Street Analysts Forecast Growth

SATL has been the subject of several research reports. Northland Securities started coverage on Satellogic in a research note on Wednesday, February 18th. They set an “outperform” rating and a $5.50 price target for the company. Loop Capital set a $4.50 price objective on shares of Satellogic in a report on Wednesday, March 11th. Craig Hallum began coverage on shares of Satellogic in a research report on Wednesday, January 21st. They set a “buy” rating and a $5.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Satellogic in a research note on Thursday, January 22nd. Finally, Freedom Capital upgraded shares of Satellogic to a “strong-buy” rating in a research note on Wednesday, March 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Satellogic presently has an average rating of “Moderate Buy” and a consensus price target of $5.50.

Satellogic Stock Performance

The company has a quick ratio of 5.02, a current ratio of 5.12 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $820.68 million, a PE ratio of -24.23 and a beta of 1.45. The company has a 50-day moving average price of $3.72 and a two-hundred day moving average price of $2.92.

Satellogic (NASDAQ:SATL) last issued its quarterly earnings data on Thursday, March 19th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.23. Satellogic had a negative return on equity of 34.92% and a negative net margin of 27.01%.The business had revenue of $6.25 million for the quarter, compared to analysts’ expectations of $3.83 million.

Insider Activity

In other news, insider Fitzgerald L. P. Cantor sold 500,000 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $5.01, for a total value of $2,505,000.00. Following the completion of the transaction, the insider directly owned 12,356,500 shares in the company, valued at approximately $61,906,065. This trade represents a 3.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 1,024,373 shares of company stock valued at $5,447,676 over the last quarter. Corporate insiders own 51.62% of the company’s stock.

Institutional Trading of Satellogic

Several institutional investors and hedge funds have recently bought and sold shares of SATL. Alyeska Investment Group L.P. bought a new position in Satellogic in the 4th quarter valued at $16,830,000. Weiss Asset Management LP bought a new position in shares of Satellogic in the fourth quarter worth $4,053,000. Cantor Fitzgerald L. P. raised its position 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. Millennium Management LLC bought a new stake in Satellogic during the fourth quarter valued at $2,172,000. Finally, Vanguard Group Inc. boosted its stake in Satellogic by 44.4% during the third quarter. Vanguard Group Inc. now owns 3,262,216 shares of the company’s stock valued at $10,700,000 after buying an additional 1,002,400 shares during the period. 17.58% of the stock is currently owned by hedge funds and other institutional investors.

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.