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

Satellogic Inc. (NASDAQ:SATL) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $6.92 and last traded at $6.6260, with a volume of 10988291 shares trading hands. The stock had previously closed at $5.71.

Wall Street Analyst Weigh In

SATL has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Satellogic from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Northland Securities started coverage on shares of Satellogic in a report on Wednesday, February 18th. They issued an “outperform” rating and a $5.50 target price for the company. Craig Hallum started coverage on shares of Satellogic in a research report on Wednesday, January 21st. They set a “buy” rating and a $5.00 price target for the company. Loop Capital set a $4.50 price target on shares of Satellogic in a research note on Wednesday, March 11th. Finally, Zacks Research raised shares of Satellogic to a “hold” rating in a research note on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Satellogic presently has an average rating of “Moderate Buy” and an average target price of $5.50.

Satellogic Trading Up 14.4%

The company has a market capitalization of $934.90 million, a PE ratio of -26.22 and a beta of 0.98. The company has a debt-to-equity ratio of 0.93, a quick ratio of 5.02 and a current ratio of 5.12. The business has a fifty day moving average price of $3.87 and a 200 day moving average price of $2.96.

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

Insider Activity

In other news, insider Fitzgerald L. P. Cantor sold 500,000 shares of the stock in a transaction 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 sale, the insider owned 12,356,500 shares of the company’s stock, valued at $61,906,065. This represents a 3.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 1,024,373 shares of company stock valued at $5,447,676 over the last ninety days. 51.62% of the stock is owned by corporate insiders.

Institutional Trading of Satellogic

A number of institutional investors have recently added to or reduced their stakes in SATL. Geode Capital Management LLC boosted its position in Satellogic by 1,671.4% during the 2nd 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. Intech Investment Management LLC acquired a new position in shares of Satellogic during the second quarter worth about $120,000. JPMorgan Chase & Co. acquired a new position in shares of Satellogic during the second quarter worth about $118,000. Legal & General Group Plc purchased a new stake in shares of Satellogic in the second quarter worth about $27,000. Finally, Rhumbline Advisers acquired a new stake in shares of Satellogic in the second quarter valued at about $351,000. 17.58% of the stock is owned by hedge funds and other institutional investors.

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.