Satellogic (NASDAQ:SATL) Stock Rating Lowered by Zacks Research

Satellogic (NASDAQ:SATL) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

SATL has been the subject of a number of other reports. Weiss Ratings restated a “sell (d-)” rating on shares of Satellogic in a research note on Friday. Freedom Capital upgraded shares of Satellogic from a “hold” rating to a “strong-buy” rating in a report on Monday, June 29th. Citigroup reissued an “outperform” rating on shares of Satellogic in a research report on Wednesday, May 13th. Cantor Fitzgerald reduced their price objective on shares of Satellogic from $10.00 to $9.00 and set an “overweight” rating for the company in a research note on Thursday, August 6th. Finally, Roth Capital reissued a “buy” rating on shares of Satellogic in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $8.90.

Satellogic Trading Up 7.9%

SATL opened at $5.75 on Monday. The company has a market capitalization of $852.38 million, a P/E ratio of -7.01 and a beta of 1.31. The stock’s fifty day moving average is $5.12 and its two-hundred day moving average is $5.51. The company has a quick ratio of 2.31, a current ratio of 2.34 and a debt-to-equity ratio of 2.65. Satellogic has a 52 week low of $1.25 and a 52 week high of $12.00.

Satellogic (NASDAQ:SATL) last posted its earnings results on Wednesday, August 5th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.10). Satellogic had a positive return on equity of 303.84% and a negative net margin of 325.65%.The company had revenue of $15.92 million for the quarter, compared to analysts’ expectations of $9.57 million. Analysts forecast that Satellogic will post -0.02 earnings per share for the current year.

Insider Activity

In other news, CTO Alan Kharsansky sold 87,091 shares of Satellogic stock in a transaction on Thursday, May 14th. The shares were 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 directly owned 47,785 shares in the company, valued at approximately $399,004.75. The trade was a 64.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Liberty 77 Capital L.P. sold 10,000,000 shares of the company’s stock in a transaction 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 directly owned 10,000,000 shares in the company, valued at approximately $97,700,000. The trade was 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

Institutional investors have recently bought and sold shares of the business. ProShare Advisors LLC lifted its holdings in shares of Satellogic by 30.2% in the 4th 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 period. Invesco Ltd. lifted its holdings in Satellogic by 14.0% in 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 lifted its holdings in Satellogic by 107.5% in 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 purchased a new stake in Satellogic in the 2nd quarter worth approximately $27,000. Finally, LMR Partners LLP purchased a new stake in Satellogic in the 2nd quarter worth approximately $30,000. 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.