Satellogic (NASDAQ:SATL) Stock Price Down 10% – Time to Sell?

Satellogic Inc. (NASDAQ:SATL) shares were down 10% during mid-day trading on Wednesday . The stock traded as low as $4.99 and last traded at $5.0050. Approximately 5,459,156 shares changed hands during trading, a decline of 48% from the average session volume of 10,535,253 shares. The stock had previously closed at $5.56.

Analyst Ratings Changes

Several research firms have weighed in on SATL. Weiss Ratings raised Satellogic from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. Northland Securities set a $11.00 price objective on shares of Satellogic in a report on Thursday, May 28th. Loop Capital set a $4.50 target price on shares of Satellogic in a research note on Wednesday, March 11th. Freedom Capital lowered shares of Satellogic from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Finally, Citigroup reissued an “outperform” rating on shares of Satellogic in a research report on Wednesday, May 13th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $9.10.

Satellogic Trading Down 9.8%

The company has a fifty day simple moving average of $7.66 and a two-hundred day simple moving average of $5.00. The company has a current ratio of 2.44, a quick ratio of 2.41 and a debt-to-equity ratio of 0.93. The company has a market cap of $743.44 million, a PE ratio of -6.66 and a beta of 1.19.

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

Insider Buying and Selling

In related news, Director Liberty 77 Capital L.P. sold 10,000,000 shares of Satellogic stock in a transaction that occurred 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 transaction, the director owned 10,000,000 shares in the company, valued at $97,700,000. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Alan Kharsansky sold 87,091 shares of the business’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 transaction of $727,209.85. Following the transaction, the chief technology officer owned 47,785 shares of the company’s stock, 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. 38.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Satellogic

A number of hedge funds and other institutional investors have recently modified their holdings of SATL. Abel Hall LLC purchased a new stake in shares of Satellogic during the 4th quarter worth $25,000. StoneX Group Inc. purchased a new position in Satellogic in the fourth quarter valued at $25,000. Neuberger Berman Group LLC acquired a new stake in Satellogic in the fourth quarter valued at $25,000. Legal & General Group Plc acquired a new stake in Satellogic in the second quarter valued at $27,000. Finally, ProShare Advisors LLC lifted its holdings in 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 buying an additional 3,561 shares during the last quarter. 17.58% of the stock is currently owned by institutional investors and hedge funds.

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.