Satellogic (NASDAQ:SATL) Stock Price Down 6.9% Following Insider Selling

Satellogic Inc. (NASDAQ:SATL)’s stock price traded down 6.9% on Friday following insider selling activity. The company traded as low as $9.12 and last traded at $9.1750. 2,180,912 shares traded hands during trading, a decline of 80% from the average session volume of 10,662,001 shares. The stock had previously closed at $9.85.

Specifically, Director Liberty 77 Capital L.P. sold 10,000,000 shares of the business’s stock in a transaction 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 completion of the sale, the director directly owned 10,000,000 shares of the company’s stock, valued at $97,700,000. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SATL. Wall Street Zen downgraded Satellogic from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Loop Capital set a $4.50 price objective on Satellogic in a research report on Wednesday, March 11th. Freedom Capital downgraded shares of Satellogic from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Northland Securities set a $11.00 price target on shares of Satellogic in a research report on Thursday. Finally, Cantor Fitzgerald raised their price target on shares of Satellogic from $7.00 to $10.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $9.10.

Satellogic Stock Performance

The business has a fifty day moving average of $7.21 and a 200 day moving average of $4.30. The company has a market cap of $1.33 billion, a P/E ratio of -12.04 and a beta of 1.06. The company has a quick ratio of 2.41, a current ratio of 2.44 and a debt-to-equity ratio of 0.93.

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

Hedge Funds Weigh In On Satellogic

A number of institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc bought a new stake in Satellogic during the 2nd quarter valued at approximately $27,000. LMR Partners LLP bought a new stake in shares of Satellogic during the second quarter valued at approximately $30,000. Squarepoint Ops LLC purchased a new stake in Satellogic in the third quarter worth $33,000. Krilogy Financial LLC bought a new position in Satellogic in the first quarter worth $60,000. Finally, Virtu Financial LLC purchased a new position in Satellogic during the third quarter valued at $36,000. 17.58% of the stock is owned by institutional investors.

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.