Satellogic (NASDAQ:SATL) Trading Up 13.7% – Here’s Why

Satellogic Inc. (NASDAQ:SATL) rose 13.7% during mid-day trading on Tuesday . The company traded as high as $5.79 and last traded at $5.6530. Approximately 14,975,818 shares traded hands during trading, an increase of 42% from the average daily volume of 10,529,020 shares. The stock had previously closed at $4.97.

Analyst Ratings Changes

Several brokerages have weighed in on SATL. Craig Hallum began coverage on Satellogic in a research report on Wednesday, January 21st. They set a “buy” rating and a $5.00 price target on the stock. Zacks Research raised Satellogic to a “hold” rating in a report on Thursday, February 19th. Cantor Fitzgerald set a $7.00 target price on Satellogic in a research note on Friday, February 20th. Freedom Capital raised Satellogic to a “strong-buy” rating in a report on Wednesday, March 11th. Finally, Loop Capital set a $4.50 price target on Satellogic in a research report on Wednesday, March 11th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $5.50.

Satellogic Price Performance

The company has a quick ratio of 5.02, a current ratio of 5.12 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $816.87 million, a PE ratio of -22.84 and a beta of 0.98. The stock has a 50-day moving average price of $3.87 and a 200 day moving average price of $2.96.

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

Insiders Place Their Bets

In other Satellogic 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 transaction of $2,505,000.00. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 1,024,373 shares of company stock worth $5,447,676 in the last ninety days. Corporate insiders own 51.62% of the company’s stock.

Institutional Trading of Satellogic

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Hsbc Holdings PLC acquired a new position in shares of Satellogic during the 4th quarter worth about $38,000. Caitong International Asset Management Co. Ltd lifted its stake in Satellogic by 223,650.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 277,450 shares of the company’s stock valued at $519,000 after buying an additional 277,326 shares in the last quarter. Invesco Ltd. boosted its holdings in Satellogic by 14.0% in the 4th quarter. Invesco Ltd. now owns 46,639 shares of the company’s stock worth $87,000 after buying an additional 5,723 shares during the last quarter. XTX Topco Ltd acquired a new stake in Satellogic in the 4th quarter worth about $294,000. Finally, Millennium Management LLC purchased a new stake in Satellogic during the 4th quarter worth approximately $2,172,000. Hedge funds and other institutional investors own 17.58% of the company’s stock.

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.