Satellogic (NASDAQ:SATL) Shares Down 6.3% – Here’s What Happened

Shares of Satellogic Inc. (NASDAQ:SATL) traded down 6.3% during mid-day trading on Monday. The company traded as low as $4.89 and last traded at $4.8250. 415,824 shares were traded during mid-day trading, a decline of 95% from the average session volume of 8,561,381 shares. The stock had previously closed at $5.15.

Analyst Ratings Changes

Several analysts recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Satellogic in a research report on Friday, August 7th. Freedom Capital upgraded Satellogic from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 29th. Wall Street Zen cut Satellogic from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Cantor Fitzgerald reissued an “overweight” rating on shares of Satellogic in a report on Monday, September 21st. Finally, Zacks Research downgraded shares of Satellogic from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Satellogic currently has an average rating of “Moderate Buy” and an average price target of $8.90.

Satellogic Trading Down 8.8%

The business’s 50 day moving average price is $5.27 and its two-hundred day moving average price is $6.04. The company has a debt-to-equity ratio of 2.65, a quick ratio of 2.31 and a current ratio of 2.34. The company has a market capitalization of $721.81 million, a price-to-earnings ratio of -5.73 and a beta of 1.37.

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). Satellogic had a negative net margin of 325.65% and a positive return on equity of 303.84%. The company had revenue of $15.92 million for the quarter, compared to analyst estimates of $9.57 million. Equities analysts forecast that Satellogic Inc. will post -0.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Satellogic

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SATL. Tidal Investments LLC acquired a new position in shares of Satellogic during the 2nd quarter valued at $11,613,000. Tema ETFs LLC acquired a new stake in shares of Satellogic in the second quarter valued at $8,640,000. Renaissance Technologies LLC acquired a new stake in shares of Satellogic in the first quarter valued at $6,463,000. Royal Bank of Canada lifted its holdings in shares of Satellogic by 4,052.9% in the first quarter. Royal Bank of Canada now owns 417,033 shares of the company’s stock valued at $2,269,000 after buying an additional 406,991 shares during the period. Finally, Sei Investments Co. bought a new position in Satellogic during the first quarter valued at about $1,607,000. 17.58% of the stock is owned by institutional investors.

About Satellogic

Satellogic Inc (NASDAQ: SATL) is a geospatial intelligence company that operates a constellation of satellites designed to capture high-resolution imagery of Earth. Its satellites collect multispectral data that can be used to monitor changes in agriculture, infrastructure, natural resources, climate conditions and other areas of interest.

The company provides satellite imagery, tasking services and geospatial data products to government and commercial customers. Its platform is intended to support applications including defense and security, environmental monitoring, mapping, agriculture, energy and infrastructure management.