Satellogic (NASDAQ:SATL) Trading Up 20.4% – What’s Next?

Satellogic Inc. (NASDAQ:SATL) shares rose 20.4% during trading on Monday . The stock traded as high as $4.12 and last traded at $4.3240. Approximately 3,183,720 shares changed hands during trading, a decline of 65% from the average daily volume of 9,104,082 shares. The stock had previously closed at $3.59.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SATL. Northland Securities started coverage on shares of Satellogic in a report on Wednesday, February 18th. They issued an “outperform” rating and a $5.50 price target on the stock. Freedom Capital raised shares of Satellogic to a “strong-buy” rating in a research note on Wednesday, March 11th. Wall Street Zen upgraded shares of Satellogic from a “sell” rating to a “hold” rating in a report on Saturday. Cantor Fitzgerald set a $7.00 price target on Satellogic in a research report on Friday, February 20th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Satellogic in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $5.50.

Satellogic Stock Up 19.9%

The stock’s fifty day moving average is $3.55 and its two-hundred day moving average is $2.85. The stock has a market capitalization of $583.20 million, a P/E ratio of -17.28 and a beta of 1.46. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.12 and a quick ratio of 5.02.

Satellogic (NASDAQ:SATL) last issued its quarterly earnings results on Thursday, March 19th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.23. The business had revenue of $6.25 million for the quarter, compared to the consensus estimate of $3.83 million. Satellogic had a negative return on equity of 34.92% and a negative net margin of 27.01%.

Insider Buying and Selling at Satellogic

In related news, major shareholder Fitzgerald L. P. Cantor sold 388,827 shares of the company’s stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $5.63, for a total transaction of $2,189,096.01. Following the completion of the transaction, the insider directly owned 12,862,075 shares in the company, valued at $72,413,482.25. This represents a 2.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders sold 524,373 shares of company stock worth $2,942,676. 51.62% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Satellogic

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hsbc Holdings PLC bought a new stake in shares of Satellogic in the 4th quarter worth approximately $38,000. Caitong International Asset Management Co. Ltd lifted its position in Satellogic by 223,650.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 277,450 shares of the company’s stock worth $519,000 after purchasing an additional 277,326 shares during the period. Invesco Ltd. boosted its stake in Satellogic by 14.0% during the fourth quarter. Invesco Ltd. now owns 46,639 shares of the company’s stock worth $87,000 after buying an additional 5,723 shares in the last quarter. XTX Topco Ltd acquired a new stake in Satellogic during the fourth quarter worth $294,000. Finally, Millennium Management LLC bought a new stake in Satellogic in the 4th quarter valued at $2,172,000. 17.58% of the stock is currently owned by 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.