Key Points
- Satellogic director Liberty 77 Capital L.P. sold 10 million shares on May 26 at an average price of $9.77, generating about $97.7 million in proceeds. The sale cut the director’s stake by 50%.
- The stock has recently performed well, opening at $9.85 and trading near its 12-month high of $12.00, well above its 50-day and 200-day moving averages.
- Analyst sentiment is mixed but generally positive, with an average rating of “Moderate Buy” and an average target price of $9.10, despite some recent downgrades and varying price targets.
Satellogic Inc. (NASDAQ:SATL - Get Free Report) Director Liberty 77 Capital L.P. sold 10,000,000 shares of Satellogic stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $9.77, for a total value of $97,700,000.00. Following the sale, the director owned 10,000,000 shares of the company's stock, valued at approximately $97,700,000. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Satellogic Stock Performance
Shares of SATL opened at $9.85 on Friday. The company has a market cap of $1.46 billion, a PE ratio of -13.13 and a beta of 1.06. The company has a current ratio of 2.44, a quick ratio of 2.41 and a debt-to-equity ratio of 0.93. The stock has a 50-day moving average price of $7.21 and a 200-day moving average price of $4.30. Satellogic Inc. has a 12-month low of $1.25 and a 12-month high of $12.00.
Satellogic (NASDAQ:SATL - Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The company reported ($0.84) earnings per share (EPS) for the quarter. The business had revenue of $6.11 million for the quarter. Satellogic had a negative net margin of 443.06% and a negative return on equity of 100.03%. As a group, equities analysts forecast that Satellogic Inc. will post -0.11 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Satellogic
A number of hedge funds and other institutional investors have recently made changes to their positions in SATL. Geode Capital Management LLC grew its stake in Satellogic by 1,671.4% in the second quarter. Geode Capital Management LLC now owns 874,487 shares of the company's stock worth $3,166,000 after purchasing an additional 825,121 shares during the period. JPMorgan Chase & Co. purchased a new stake in Satellogic in the second quarter worth $118,000. Legal & General Group Plc purchased a new stake in Satellogic in the second quarter worth $27,000. Rhumbline Advisers purchased a new stake in Satellogic in the second quarter worth $351,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of Satellogic in the second quarter worth $97,000. Institutional investors own 17.58% of the company's stock.
Analysts Set New Price Targets
A number of research firms recently weighed in on SATL. Wall Street Zen downgraded Satellogic from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Roth Mkm boosted their target price on Satellogic from $10.00 to $15.00 and gave the stock a "buy" rating in a research report on Wednesday. Loop Capital set a $4.50 price objective on Satellogic in a research report on Wednesday, March 11th. Freedom Capital downgraded Satellogic from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 6th. Finally, Cantor Fitzgerald boosted their price objective on Satellogic from $7.00 to $10.00 and gave the company an "overweight" rating in a research report on Wednesday, May 13th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $9.10.
Check Out Our Latest Research Report on SATL
About Satellogic
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
