Satellogic (NASDAQ:SATL) Shares Down 3.1% – Here’s Why

Shares of Satellogic Inc. (NASDAQ:SATL – Get Free Report) fell 3.1% on Tuesday. The company traded as low as $3.62 and last traded at $3.7780. Approximately 1,232,190 shares traded hands during trading, a decline of 85% from the average session volume of 8,445,991 shares. The stock had previously closed at $3.90.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SATL shares. Roth Capital reaffirmed a “buy” rating on shares of Satellogic in a report on Thursday, August 6th. Zacks Research lowered shares of Satellogic from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Freedom Capital raised shares of Satellogic from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 29th. Cantor Fitzgerald restated an “overweight” rating on shares of Satellogic in a research note on Monday, September 21st. Finally, Wall Street Zen lowered Satellogic from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $8.90.

View Our Latest Stock Report on SATL

Satellogic Trading Up 6.8%

The company has a current ratio of 2.34, a quick ratio of 2.31 and a debt-to-equity ratio of 2.65. The business’s 50-day moving average is $5.11 and its two-hundred day moving average is $5.94. The firm has a market cap of $605.74 million, a P/E ratio of -4.80 and a beta of 1.37.

Satellogic (NASDAQ:SATL – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $15.92 million for the quarter, compared to analyst estimates of $9.57 million. As a group, analysts expect that Satellogic Inc. will post -0.02 earnings per share for the current fiscal year.

Institutional Trading of Satellogic

A number of institutional investors and hedge funds have recently made changes to their positions in SATL. Tidal Investments LLC bought a new stake in shares of Satellogic in the 2nd quarter worth approximately $11,613,000. Tema ETFs LLC bought a new position in Satellogic during the 2nd quarter worth $8,640,000. Renaissance Technologies LLC acquired a new stake in Satellogic in the first quarter worth $6,463,000. Royal Bank of Canada increased its position in Satellogic by 4,052.9% in the first 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 period. Finally, Sei Investments Co. acquired a new stake in Satellogic in the first quarter worth $1,607,000. 17.58% of the stock is currently owned by institutional investors and hedge funds.

About Satellogic

(Get Free Report)

Satellogic Inc is a geospatial intelligence company that designs, manufactures and operates a constellation of Earth observation satellites. Its satellites collect high-resolution, multispectral imagery intended to help customers monitor changes on the planet’s surface, including activity related to agriculture, infrastructure, natural resources, climate and national security.

The company provides access to satellite imagery, analytics and related data products through its platform. Satellogic also offers satellite-as-a-service and sovereign constellation solutions, allowing government and commercial customers to obtain dedicated Earth observation capabilities and build applications based on frequently updated geospatial data.

Founded in 2010 by Emiliano Kargieman, Satellogic is headquartered in Montevideo, Uruguay, and serves customers in multiple international markets.

Further Reading

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