Satellogic (NASDAQ:SATL) Trading Down 5.4% After Insider Selling

Satellogic Inc. (NASDAQ:SATL) shares fell 5.4% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $9.16 and last traded at $9.1960. 3,929,325 shares were traded during trading, a decline of 63% from the average session volume of 10,525,476 shares. The stock had previously closed at $9.72.

Specifically, CTO Alan Kharsansky sold 87,091 shares of the company’s stock in a transaction that occurred 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 sale, the chief technology officer owned 47,785 shares of the company’s stock, valued at approximately $399,004.75. This represents a 64.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Analyst Ratings Changes

A number of research firms recently issued reports on SATL. Freedom Capital lowered Satellogic from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 6th. 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. Wall Street Zen downgraded Satellogic from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Northland Securities set a $9.00 price target on Satellogic in a report on Wednesday, May 13th. Finally, Citigroup reiterated an “outperform” rating on shares of Satellogic in a report on Wednesday, May 13th. Five equities research 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $7.70.

Satellogic Trading Down 4.1%

The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of -12.42 and a beta of 1.06. 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 business has a fifty day moving average price of $6.35 and a 200 day moving average price of $3.95.

Satellogic (NASDAQ:SATL) last released its quarterly earnings data on Tuesday, March 31st. The company reported ($0.84) 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 for the quarter. As a group, equities analysts forecast that Satellogic Inc. will post -0.11 earnings per share for the current year.

Hedge Funds Weigh In On Satellogic

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Abel Hall LLC bought a new position in shares of Satellogic during the fourth quarter worth about $25,000. StoneX Group Inc. bought a new position in shares of Satellogic during the fourth quarter worth about $25,000. Neuberger Berman Group LLC bought a new position in shares of Satellogic during the fourth quarter worth about $25,000. Legal & General Group Plc bought a new position in shares of Satellogic during the second quarter worth about $27,000. Finally, ProShare Advisors LLC lifted its position in shares of Satellogic by 30.2% during 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 last quarter. 17.58% of the stock is owned by hedge funds and other 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.