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

Satellogic Inc. (NASDAQ:SATL) gapped down prior to trading on Wednesday . The stock had previously closed at $10.74, but opened at $9.64. Satellogic shares last traded at $9.5030, with a volume of 7,358,880 shares traded.

Wall Street Analyst Weigh In

SATL has been the topic of several analyst reports. Loop Capital set a $4.50 target price on Satellogic in a research report on Wednesday, March 11th. Weiss Ratings raised Satellogic from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. Freedom Capital downgraded Satellogic from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Zacks Research raised Satellogic to a “hold” rating in a research note on Thursday, February 19th. Finally, Cantor Fitzgerald lifted their target price on Satellogic from $7.00 to $10.00 and gave the company an “overweight” rating in a research note on Wednesday, May 13th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $7.70.

Satellogic Stock Down 11.9%

The firm has a 50 day simple moving average of $6.94 and a two-hundred day simple moving average of $4.19. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.41 and a current ratio of 2.44. The stock has a market cap of $1.40 billion, a P/E ratio of -12.67 and a beta of 1.06.

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

Insiders Place Their Bets

In other news, insider Fitzgerald L. P. Cantor sold 500,000 shares of the business’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $5.01, for a total value of $2,505,000.00. Following the sale, the insider 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Alan Kharsansky sold 87,091 shares of the business’s stock in a transaction 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 completion of the sale, the chief technology officer directly owned 47,785 shares in the company, valued at $399,004.75. This represents a 64.57% decrease in their position. The disclosure for this sale is available in the SEC filing. 51.62% of the stock is currently owned by insiders.

Institutional Trading of Satellogic

Hedge funds and other institutional investors have recently modified their holdings of the company. Abel Hall LLC bought a new stake in shares of Satellogic in the 4th quarter worth $25,000. StoneX Group Inc. bought a new stake in shares of Satellogic in the 4th quarter worth $25,000. Neuberger Berman Group LLC bought a new stake in shares of Satellogic in the 4th quarter worth $25,000. Legal & General Group Plc bought a new stake in shares of Satellogic in the 2nd quarter worth $27,000. Finally, ProShare Advisors LLC raised its stake in shares of Satellogic by 30.2% in the 4th quarter. ProShare Advisors LLC now owns 15,349 shares of the company’s stock worth $29,000 after buying an additional 3,561 shares in the last quarter. Institutional investors own 17.58% of the company’s stock.

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.