Satellogic (NASDAQ:SATL) Sets New 52-Week High – Here’s Why

Satellogic Inc. (NASDAQ:SATL)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $11.68 and last traded at $11.55, with a volume of 2175187 shares. The stock had previously closed at $10.61.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Cantor Fitzgerald upped their price objective on shares of Satellogic from $7.00 to $10.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. Loop Capital set a $4.50 target price on Satellogic in a report on Wednesday, March 11th. Roth Mkm began coverage on Satellogic in a report on Friday, May 8th. They set a “buy” rating and a $10.00 target price for the company. Zacks Research upgraded Satellogic to a “hold” rating in a report on Thursday, February 19th. Finally, Northland Securities set a $9.00 target price on Satellogic in a report on Wednesday, May 13th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $7.70.

Satellogic Trading Up 3.0%

The firm has a market capitalization of $1.56 billion, a PE ratio of -14.57 and a beta of 1.06. The company’s 50-day simple moving average is $6.78 and its 200 day simple moving average is $4.12. The company has a quick ratio of 2.41, a current ratio of 2.44 and a debt-to-equity ratio of 0.93.

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

Insider Buying and Selling at Satellogic

In related news, insider Fitzgerald L. P. Cantor sold 500,000 shares of the stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $5.01, for a total value of $2,505,000.00. Following the completion of the transaction, the insider directly owned 12,356,500 shares of the company’s stock, valued at $61,906,065. This trade represents a 3.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Alan Kharsansky sold 87,091 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $8.35, for a total transaction of $727,209.85. Following the completion of the transaction, the chief technology officer directly owned 47,785 shares of the company’s stock, valued at $399,004.75. The trade was a 64.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 51.62% of the company’s stock.

Hedge Funds Weigh In On Satellogic

A number of institutional investors have recently bought and sold shares of the business. Bank of America Corp DE raised its position in Satellogic by 29.8% during the 1st quarter. Bank of America Corp DE now owns 72,832 shares of the company’s stock worth $396,000 after buying an additional 16,707 shares during the last quarter. MSA Advisors LLC purchased a new position in shares of Satellogic during the 1st quarter valued at about $143,000. Royal Bank of Canada raised its stake in shares of Satellogic by 4,052.9% during the 1st quarter. Royal Bank of Canada now owns 417,033 shares of the company’s stock valued at $2,269,000 after buying an additional 406,991 shares during the last quarter. Themes Management Co LLC purchased a new position in shares of Satellogic during the 1st quarter valued at about $121,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Satellogic during the 1st quarter valued at about $6,463,000. 17.58% of the stock is owned by hedge funds and other institutional investors.

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.