Satellogic (NASDAQ:SATL) Trading Down 6% – Should You Sell?

Satellogic Inc. (NASDAQ:SATL) shares traded down 6% during mid-day trading on Wednesday . The company traded as low as $5.05 and last traded at $5.03. 750,863 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 8,972,821 shares. The stock had previously closed at $5.35.

Wall Street Analyst Weigh In

A number of research firms have commented on SATL. Weiss Ratings restated a “sell (d-)” rating on shares of Satellogic in a research report on Friday, August 7th. Cantor Fitzgerald decreased their price objective on shares of Satellogic from $10.00 to $9.00 and set an “overweight” rating for the company in a report on Thursday, August 6th. Northland Securities set a $11.00 price objective on shares of Satellogic in a research note on Thursday, May 28th. Wall Street Zen lowered shares of Satellogic from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Finally, Zacks Research cut Satellogic from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $8.90.

Satellogic Price Performance

The stock’s fifty day moving average price is $4.70 and its 200-day moving average price is $5.71. The company has a debt-to-equity ratio of 2.65, a current ratio of 2.34 and a quick ratio of 2.31. The firm has a market cap of $722.58 million, a price-to-earnings ratio of -5.73 and a beta of 1.36.

Satellogic (NASDAQ:SATL) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.10). The firm had revenue of $15.92 million during the quarter, compared to analyst estimates of $9.57 million. Satellogic had a positive return on equity of 303.84% and a negative net margin of 325.65%. Equities research analysts predict that Satellogic Inc. will post -0.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Satellogic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SATL. Allworth Financial LP raised its stake in shares of Satellogic by 69.4% during the 2nd quarter. Allworth Financial LP now owns 6,214 shares of the company’s stock worth $36,000 after purchasing an additional 2,545 shares in the last quarter. Legal & General Group Plc bought a new position in Satellogic during the second quarter worth $27,000. Integrated Wealth Concepts LLC bought a new position in shares of Satellogic during the 2nd quarter worth about $46,000. LMR Partners LLP bought a new position in Satellogic during the second quarter valued at about $30,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Satellogic in the third quarter valued at $33,000. Hedge funds and other institutional investors own 17.58% of the company’s stock.

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.