Cantor Fitzgerald Issues Pessimistic Forecast for Satellogic (NASDAQ:SATL) Stock Price

Satellogic (NASDAQ:SATL) had its price objective cut by stock analysts at Cantor Fitzgerald from $10.00 to $9.00 in a research note issued on Thursday, MarketBeat.com reports. The firm currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 63.04% from the company’s previous close.

A number of other equities analysts also recently issued reports on SATL. Freedom Capital raised Satellogic from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 29th. Roth Capital restated a “buy” rating on shares of Satellogic in a report on Thursday. Wall Street Zen lowered shares of Satellogic from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Citigroup reiterated an “outperform” rating on shares of Satellogic in a report on Wednesday, May 13th. Finally, Weiss Ratings raised shares of Satellogic from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $8.90.

Satellogic Price Performance

Satellogic stock opened at $5.52 on Thursday. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.44 and a quick ratio of 2.41. The stock has a market cap of $818.28 million, a price-to-earnings ratio of -6.73 and a beta of 1.31. The firm has a 50-day moving average of $5.25 and a two-hundred day moving average of $5.47. Satellogic has a 1 year low of $1.25 and a 1 year high of $12.00.

Satellogic (NASDAQ:SATL) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.10). The company had revenue of $15.92 million for the quarter, compared to the consensus estimate of $9.57 million. Satellogic had a negative net margin of 325.65% and a negative return on equity of 124.86%. On average, research analysts forecast that Satellogic will post -0.11 earnings per share for the current year.

Insiders Place Their Bets

In other news, CTO Alan Kharsansky sold 87,091 shares of the stock in a transaction 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 completion of the sale, the chief technology officer owned 47,785 shares in the company, valued at approximately $399,004.75. This represents a 64.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Liberty 77 Capital L.P. sold 10,000,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $9.77, for a total value of $97,700,000.00. Following the transaction, the director owned 10,000,000 shares in the company, valued at approximately $97,700,000. This trade represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 38.84% of the company’s stock.

Hedge Funds Weigh In On Satellogic

Hedge funds and other institutional investors have recently modified their holdings of the stock. ProShare Advisors LLC boosted its position in Satellogic by 30.2% in the fourth quarter. ProShare Advisors LLC now owns 15,349 shares of the company’s stock valued at $29,000 after buying an additional 3,561 shares during the last quarter. Invesco Ltd. raised its position in Satellogic by 14.0% during the 4th quarter. Invesco Ltd. now owns 46,639 shares of the company’s stock worth $87,000 after buying an additional 5,723 shares during the last quarter. BNP Paribas Financial Markets raised its position in Satellogic by 107.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,613 shares of the company’s stock worth $45,000 after buying an additional 7,052 shares during the last quarter. Legal & General Group Plc acquired a new stake in Satellogic during the 2nd quarter valued at approximately $27,000. Finally, LMR Partners LLP acquired a new stake in Satellogic during the 2nd quarter valued at approximately $30,000. 17.58% of the stock is owned by hedge funds and other 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.