Satellogic (NASDAQ:SATL) Downgraded to “Hold” Rating by Freedom Capital

Freedom Capital lowered shares of Satellogic (NASDAQ:SATL) from a strong-buy rating to a hold rating in a research report report published on Wednesday morning,Zacks.com reports.

A number of other analysts have also recently commented on SATL. Weiss Ratings restated a “sell (d-)” rating on shares of Satellogic in a research report on Thursday, January 22nd. Loop Capital set a $4.50 target price on Satellogic in a report on Wednesday, March 11th. Northland Securities assumed coverage on Satellogic in a research note on Wednesday, February 18th. They issued an “outperform” rating and a $5.50 target price for the company. Craig Hallum began coverage on Satellogic in a report on Wednesday, January 21st. They issued a “buy” rating and a $5.00 price target for the company. Finally, Zacks Research raised Satellogic to a “hold” rating in a research report on Thursday, February 19th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Satellogic has an average rating of “Hold” and an average price target of $5.50.

Satellogic Stock Performance

Shares of NASDAQ:SATL opened at $6.62 on Wednesday. The company has a market capitalization of $947.06 million, a price-to-earnings ratio of -26.48 and a beta of 1.06. The firm’s 50 day simple moving average is $5.33 and its 200 day simple moving average is $3.52. 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 has a fifty-two week low of $1.25 and a fifty-two week high of $8.35.

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, beating analysts’ consensus estimates of ($0.06) by $0.23. The firm had revenue of $6.25 million during the quarter, compared to analysts’ expectations of $3.83 million. Satellogic had a negative net margin of 27.01% and a negative return on equity of 34.92%. As a group, sell-side analysts forecast that Satellogic will post -0.17 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Fitzgerald L. P. Cantor sold 500,000 shares of the business’s stock in a transaction 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 sale, the insider directly owned 12,356,500 shares of the company’s stock, valued at approximately $61,906,065. The trade was a 3.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 51.62% of the company’s stock.

Institutional Trading of Satellogic

A number of institutional investors have recently modified their holdings of SATL. Commonwealth Financial Services LLC acquired a new position in shares of Satellogic during the first quarter worth about $82,000. Bank of New York Mellon Corp grew its holdings in shares of Satellogic by 16.1% during the first quarter. Bank of New York Mellon Corp now owns 185,177 shares of the company’s stock worth $1,007,000 after buying an additional 25,686 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in Satellogic in the 1st quarter valued at approximately $584,000. Janney Montgomery Scott LLC lifted its stake in Satellogic by 611.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 88,935 shares of the company’s stock valued at $484,000 after acquiring an additional 76,435 shares in the last quarter. Finally, Krilogy Financial LLC bought a new stake in Satellogic in the 1st quarter valued at approximately $60,000. 17.58% of the stock is currently owned by 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.