Satellogic (NASDAQ:SATL) Stock Price Down 6% – Here’s What Happened
by Scott Moore · The Cerbat GemSatellogic Inc. (NASDAQ:SATL – Get Free Report) traded down 6% on Wednesday . The stock 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.
Analysts Set New Price Targets
Several research firms have recently commented on SATL. Cantor Fitzgerald lowered their price target on shares of Satellogic from $10.00 to $9.00 and set an “overweight” rating for the company in a research report on Thursday, August 6th. Freedom Capital upgraded Satellogic from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 29th. Northland Securities set a $11.00 price objective on Satellogic in a report on Thursday, May 28th. Wall Street Zen downgraded Satellogic from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Satellogic in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Satellogic currently has an average rating of “Moderate Buy” and a consensus price target of $8.90.
Get Our Latest Stock Analysis on Satellogic
Satellogic Trading Down 5.3%
The business has a fifty day moving average of $4.73 and a 200-day moving average of $5.69. The stock has a market capitalization of $778.69 million, a price-to-earnings ratio of -6.18 and a beta of 1.36. The company has a debt-to-equity ratio of 2.65, a current ratio of 2.34 and a quick ratio of 2.31.
Satellogic (NASDAQ:SATL – Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.13) earnings per share (EPS) 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 analyst estimates of $9.57 million. On average, equities analysts anticipate that Satellogic Inc. will post -0.02 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. Abel Hall LLC bought a new position in shares of Satellogic in the fourth quarter worth about $25,000. StoneX Group Inc. acquired a new stake in Satellogic in the 4th quarter valued at approximately $25,000. Neuberger Berman Group LLC acquired a new stake in Satellogic in the 4th quarter valued at approximately $25,000. Legal & General Group Plc acquired a new position in shares of Satellogic during the second quarter worth approximately $27,000. Finally, ProShare Advisors LLC lifted its holdings in shares of Satellogic by 30.2% during the fourth 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.
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.