Tema ETFs LLC bought a new stake in Satellogic Inc. (NASDAQ:SATL – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,510,426 shares of the company’s stock, valued at approximately $8,640,000.
A number of other large investors have also made changes to their positions in SATL. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Satellogic during the second quarter worth $402,000. Bank of America Corp DE boosted its position in shares of Satellogic by 29.8% in the 1st quarter. Bank of America Corp DE now owns 72,832 shares of the company’s stock worth $396,000 after purchasing an additional 16,707 shares in the last quarter. MSA Advisors LLC acquired a new stake in shares of Satellogic in the 1st quarter worth $143,000. Royal Bank of Canada grew its stake in Satellogic by 4,052.9% during the 1st quarter. Royal Bank of Canada now owns 417,033 shares of the company’s stock worth $2,269,000 after buying an additional 406,991 shares during the last quarter. Finally, Themes Management Co LLC acquired a new position in Satellogic during the 1st quarter valued at about $121,000. 17.58% of the stock is owned by institutional investors and hedge funds.
Satellogic Stock Up 7.9%
NASDAQ:SATL opened at $5.75 on Wednesday. The firm has a market capitalization of $852.38 million, a P/E ratio of -7.01 and a beta of 1.31. Satellogic Inc. has a 1-year low of $1.25 and a 1-year high of $12.00. The company’s fifty day moving average price is $5.12 and its 200-day moving average price is $5.51. The company has a debt-to-equity ratio of 2.65, a current ratio of 2.34 and a quick ratio of 2.31.
Insider Transactions at Satellogic
In other news, CTO Alan Kharsansky sold 87,091 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $8.35, for a total value of $727,209.85. Following the sale, the chief technology officer owned 47,785 shares in the company, valued at $399,004.75. This represents a 64.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Liberty 77 Capital L.P. sold 10,000,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the director owned 10,000,000 shares in the company, valued at $97,700,000. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 38.84% of the company’s stock.
Analyst Upgrades and Downgrades
SATL has been the subject of several recent analyst reports. Citigroup reissued an “outperform” rating on shares of Satellogic in a report on Wednesday, May 13th. Wall Street Zen lowered shares of Satellogic from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Zacks Research cut shares of Satellogic from a “strong-buy” rating to a “hold” rating in a research note on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of Satellogic in a research report on Friday. Finally, Roth Capital reissued a “buy” rating on shares of Satellogic in a research report on Thursday, August 6th. One 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $8.90.
Read Our Latest Research Report on SATL
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.
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