Satellogic (NASDAQ:SATL) Shares Up 8.3% – Here’s Why

Satellogic Inc. (NASDAQ:SATL) rose 8.3% during trading on Monday . The company traded as high as $5.50 and last traded at $5.5350. Approximately 1,814,753 shares were traded during trading, a decline of 79% from the average session volume of 8,832,149 shares. The stock had previously closed at $5.11.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating on shares of Satellogic in a report on Monday. Freedom Capital upgraded shares of Satellogic from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 29th. Zacks Research downgraded shares of Satellogic from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Wall Street Zen lowered shares of Satellogic from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Finally, Roth Capital reissued a “buy” rating on shares of Satellogic in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.90.

Satellogic Trading Up 9.3%

The company has a market capitalization of $858.64 million, a price-to-earnings ratio of -6.81 and a beta of 1.36. The business has a fifty day moving average price of $4.72 and a 200 day moving average price of $5.79. The company has a debt-to-equity ratio of 2.65, a current ratio of 2.34 and a quick ratio of 2.31.

Satellogic (NASDAQ:SATL) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.10). Satellogic had a positive return on equity of 303.84% and a negative net margin of 325.65%.The company had revenue of $15.92 million during the quarter, compared to analyst estimates of $9.57 million. On average, equities analysts expect that Satellogic Inc. will post -0.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Satellogic

Several hedge funds and other institutional investors have recently made changes to their positions in SATL. Tidal Investments LLC bought a new stake in shares of Satellogic during the second quarter worth $11,613,000. Integrated Wealth Concepts LLC acquired a new stake in Satellogic in the second quarter worth about $46,000. Allworth Financial LP raised its holdings in Satellogic by 69.4% during the 2nd quarter. Allworth Financial LP now owns 6,214 shares of the company’s stock worth $36,000 after purchasing an additional 2,545 shares during the last quarter. Arizona State Retirement System bought a new stake in Satellogic during the 2nd quarter worth about $131,000. Finally, Corient Private Wealth LP acquired a new position in Satellogic during the 2nd quarter valued at about $124,000. 17.58% of the stock is owned by institutional investors and hedge funds.

About Satellogic

Satellogic Inc (NASDAQ:SATL) is a geospatial intelligence company that designs, builds and operates a constellation of Earth-observation satellites. The company collects high-resolution multispectral imagery and other remote-sensing data intended to help customers monitor changes on the ground and make more informed decisions.

Satellogic provides satellite imagery, tasking and data-access services through its platform, which is designed to support frequent observation of locations worldwide.