Satellogic (NASDAQ:SATL) Trading Up 6.5% – Still a Buy?

Satellogic Inc. (NASDAQ:SATL)’s share price shot up 6.5% on Tuesday . The company traded as high as $5.60 and last traded at $5.6750. 2,560,724 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 9,585,144 shares. The stock had previously closed at $5.33.

Analysts Set New Price Targets

Several analysts have issued reports on SATL shares. Zacks Research upgraded shares of Satellogic from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 10th. Weiss Ratings raised shares of Satellogic from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. Freedom Capital upgraded shares of Satellogic from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 29th. Northland Securities set a $11.00 target price on Satellogic in a research report on Thursday, May 28th. Finally, Cantor Fitzgerald lowered their price target on Satellogic from $10.00 to $9.00 and set an “overweight” rating on the stock in a research note on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Satellogic currently has a consensus rating of “Buy” and a consensus price target of $8.90.

Satellogic Price Performance

The stock has a market cap of $848.67 million, a price-to-earnings ratio of -6.98 and a beta of 1.31. The company has a debt-to-equity ratio of 2.65, a current ratio of 2.34 and a quick ratio of 2.31. The stock’s 50 day simple moving average is $5.18 and its two-hundred day simple moving average is $5.49.

Satellogic (NASDAQ:SATL) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.10). The business had revenue of $15.92 million during the quarter, compared to analyst estimates of $9.57 million. Satellogic had a negative net margin of 325.65% and a positive return on equity of 303.84%. On average, analysts forecast that Satellogic Inc. will post -0.02 earnings per share for the current fiscal year.

Insider Transactions at Satellogic

In other Satellogic news, CTO Alan Kharsansky sold 87,091 shares of the firm’s stock in a transaction dated 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 owned 47,785 shares in the company, valued at $399,004.75. This trade represents a 64.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Liberty 77 Capital L.P. sold 10,000,000 shares of Satellogic stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $9.77, for a total value of $97,700,000.00. Following the sale, the director directly owned 10,000,000 shares in the company, valued at $97,700,000. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 38.84% of the company’s stock.

Hedge Funds Weigh In On Satellogic

A number of hedge funds have recently modified their holdings of SATL. Alyeska Investment Group L.P. acquired a new stake in Satellogic in the 4th quarter valued at $16,830,000. Weiss Asset Management LP acquired a new position in Satellogic during the fourth quarter worth $4,053,000. Cantor Fitzgerald L. P. lifted its holdings in shares of Satellogic by 16.2% during the fourth quarter. Cantor Fitzgerald L. P. now owns 13,380,873 shares of the company’s stock valued at $25,022,000 after acquiring an additional 1,863,696 shares during the period. Tema ETFs LLC acquired a new stake in shares of Satellogic in the 2nd quarter valued at $8,640,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Satellogic in the 1st quarter worth about $6,463,000. 17.58% of the stock is owned by institutional investors and hedge funds.

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.