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

Shares of Satellogic Inc. (NASDAQ:SATL) gapped down prior to trading on Tuesday . The stock had previously closed at $7.05, but opened at $6.79. Satellogic shares last traded at $6.8280, with a volume of 2,288,594 shares.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wall Street Zen upgraded Satellogic from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Zacks Research raised Satellogic to a “hold” rating in a research note on Thursday, February 19th. Cantor Fitzgerald set a $7.00 price objective on Satellogic in a research note on Friday, February 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Satellogic in a research note on Thursday, January 22nd. Finally, Craig Hallum assumed coverage on Satellogic in a research note on Wednesday, January 21st. They issued a “buy” rating and a $5.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Satellogic presently has an average rating of “Moderate Buy” and an average target price of $5.50.

Satellogic Stock Down 0.1%

The company has a debt-to-equity ratio of 0.93, a current ratio of 5.12 and a quick ratio of 5.02. The business has a 50 day moving average price of $4.00 and a 200 day moving average price of $3.03. The firm has a market capitalization of $1.01 billion, a P/E ratio of -28.27 and a beta of 0.99.

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

Insider Activity at Satellogic

In other news, insider Fitzgerald L. P. Cantor sold 500,000 shares of Satellogic stock in a transaction dated 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 transaction, the insider directly owned 12,356,500 shares in the company, valued at approximately $61,906,065. The trade was a 3.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 1,024,373 shares of company stock valued at $5,447,676 in the last 90 days. Insiders own 51.62% of the company’s stock.

Hedge Funds Weigh In On Satellogic

A number of institutional investors have recently made changes to their positions in the business. ProShare Advisors LLC increased its stake in shares of Satellogic by 30.2% in the fourth quarter. ProShare Advisors LLC now owns 15,349 shares of the company’s stock worth $29,000 after purchasing an additional 3,561 shares during the period. Invesco Ltd. increased its stake in Satellogic by 14.0% during the fourth quarter. Invesco Ltd. now owns 46,639 shares of the company’s stock valued at $87,000 after acquiring an additional 5,723 shares during the period. BNP Paribas Financial Markets increased its stake in Satellogic by 107.5% during the third quarter. BNP Paribas Financial Markets now owns 13,613 shares of the company’s stock valued at $45,000 after acquiring an additional 7,052 shares during the period. Legal & General Group Plc bought a new position in Satellogic during the second quarter valued at about $27,000. Finally, Farther Finance Advisors LLC bought a new position in Satellogic during the third quarter valued at about $26,000. 17.58% of the stock is currently 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.