Walleye Capital LLC Makes New $1.04 Million Investment in Satellogic Inc. $SATL

Walleye Capital LLC acquired a new position in shares of Satellogic Inc. (NASDAQ:SATL) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 192,031 shares of the company’s stock, valued at approximately $1,045,000. Walleye Capital LLC owned 0.13% of Satellogic at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. StoneX Group Inc. purchased a new stake in Satellogic during the fourth quarter worth $25,000. Abel Hall LLC purchased a new position in Satellogic in the fourth quarter valued at $25,000. Neuberger Berman Group LLC purchased a new position in Satellogic in the fourth quarter valued at $25,000. Legal & General Group Plc purchased a new stake in shares of Satellogic during the 2nd quarter worth about $27,000. Finally, ProShare Advisors LLC boosted its stake in shares of Satellogic by 30.2% during the 4th quarter. ProShare Advisors LLC now owns 15,349 shares of the company’s stock worth $29,000 after acquiring an additional 3,561 shares in the last quarter. 17.58% of the stock is owned by hedge funds and other institutional investors.

Satellogic Trading Down 5.8%

Shares of Satellogic stock opened at $3.59 on Friday. The firm has a market capitalization of $532.18 million, a PE ratio of -4.79 and a beta of 1.26. Satellogic Inc. has a twelve month low of $1.25 and a twelve month high of $12.00. The firm’s 50-day moving average price is $6.41 and its 200 day moving average price is $5.39. The company has a current ratio of 2.44, a quick ratio of 2.41 and a debt-to-equity ratio of 0.93.

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

Analyst Upgrades and Downgrades

SATL has been the subject of several recent analyst reports. Wall Street Zen lowered Satellogic from a “hold” rating to a “sell” rating in a research note on Saturday. Northland Securities set a $11.00 price target on Satellogic in a research report on Thursday, May 28th. Weiss Ratings raised Satellogic from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Zacks Research upgraded Satellogic from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 10th. Finally, Roth Capital upped their target price on Satellogic from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $9.10.

Insiders Place Their Bets

In other news, Director Liberty 77 Capital L.P. sold 10,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $9.77, for a total transaction of $97,700,000.00. Following the transaction, the director directly owned 10,000,000 shares in the company, valued at $97,700,000. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction, the chief technology officer directly owned 47,785 shares in the company, valued at $399,004.75. This trade represents a 64.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 38.84% 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.