Satellogic (NASDAQ:SATL) Reaches New 52-Week High – Here’s What Happened

Satellogic Inc. (NASDAQ:SATL)’s share price reached a new 52-week high on Monday . The stock traded as high as $10.19 and last traded at $9.0510, with a volume of 2416749 shares traded. The stock had previously closed at $9.84.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SATL. Roth Mkm began coverage on shares of Satellogic in a report on Friday, May 8th. They set a “buy” rating and a $10.00 price target on the stock. Wall Street Zen cut shares of Satellogic from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Zacks Research upgraded shares of Satellogic to a “hold” rating in a report on Thursday, February 19th. Weiss Ratings upgraded shares of Satellogic from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. Finally, Citigroup restated an “outperform” rating on shares of Satellogic in a report on Wednesday. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Satellogic currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.70.

Satellogic Trading Down 8.7%

The company has a debt-to-equity ratio of 0.93, a current ratio of 2.44 and a quick ratio of 2.41. The stock has a market capitalization of $1.28 billion, a PE ratio of -11.90 and a beta of 1.06. The stock’s 50 day simple moving average is $5.96 and its two-hundred day simple moving average is $3.78.

Satellogic (NASDAQ:SATL) last released its earnings results on Tuesday, March 31st. The company reported ($0.84) earnings per share for the quarter. The company had revenue of $6.11 million during the quarter. Satellogic had a negative net margin of 443.06% and a negative return on equity of 100.03%. On average, sell-side analysts expect that Satellogic Inc. will post -0.11 EPS for the current year.

Insider Activity at Satellogic

In related news, insider Fitzgerald L. P. Cantor sold 500,000 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $5.01, for a total transaction of $2,505,000.00. Following the sale, the insider directly owned 12,356,500 shares in the company, valued at approximately $61,906,065. This represents a 3.89% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 51.62% of the company’s stock.

Institutional Trading of Satellogic

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Themes Management Co LLC bought a new stake in Satellogic during the 1st quarter worth approximately $121,000. Renaissance Technologies LLC bought a new position in shares of Satellogic in the 1st quarter worth $6,463,000. Sei Investments Co. bought a new position in shares of Satellogic in the 1st quarter worth $1,607,000. Walleye Capital LLC bought a new position in shares of Satellogic in the 1st quarter worth $1,045,000. Finally, Commonwealth Financial Services LLC bought a new position in shares of Satellogic in the 1st quarter worth $82,000. Institutional investors own 17.58% of the company’s stock.

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.