Satellogic (NASDAQ:SATL) Stock Price Target Lowered at Cantor Fitzgerald

Satellogic (NASDAQ:SATL) had its price objective decreased by equities researchers at Cantor Fitzgerald from $9.00 to $7.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald‘s target price indicates a potential upside of 79.49% from the stock’s previous close.

SATL has been the topic of a number of other research reports. Wall Street Zen lowered shares of Satellogic from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Roth Capital reissued a “buy” rating on shares of Satellogic in a research note on Thursday, August 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Satellogic in a report on Wednesday, November 4th. Finally, Zacks Research lowered Satellogic from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $8.50.

Satellogic Trading Down 1.5%

Shares of SATL stock opened at $3.90 on Wednesday. The firm’s 50-day simple moving average is $4.60 and its 200-day simple moving average is $5.26. 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 has a 1-year low of $1.25 and a 1-year high of $12.00. The firm has a market cap of $599.59 million, a P/E ratio of -4.76 and a beta of 1.49.

Satellogic (NASDAQ:SATL) last released its earnings results on Tuesday, November 10th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.16. Satellogic had a negative net margin of 325.65% and a positive return on equity of 303.84%. The firm had revenue of $16.04 million during the quarter, compared to the consensus estimate of $12.44 million. As a group, equities analysts forecast that Satellogic will post -0.02 EPS for the current year.

Institutional Trading of Satellogic

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Tidal Investments LLC purchased a new position in Satellogic in the second quarter valued at approximately $11,613,000. Tema ETFs LLC acquired a new position in Satellogic during the second quarter valued at approximately $8,640,000. Renaissance Technologies LLC acquired a new position in Satellogic during the first quarter valued at approximately $6,463,000. Royal Bank of Canada grew its stake in Satellogic by 4,052.9% during the first quarter. Royal Bank of Canada now owns 417,033 shares of the company’s stock worth $2,269,000 after buying an additional 406,991 shares during the period. Finally, Sei Investments Co. purchased a new stake in Satellogic during the first quarter worth approximately $1,607,000. Institutional investors and hedge funds own 17.58% of the company’s stock.

About Satellogic

Satellogic is a space technology company that designs, manufactures and operates Earth-observation satellites. It provides satellite imagery and geospatial data products to customers seeking information about conditions and changes on the ground. The company’s services include imagery and monitoring solutions for applications such as agriculture, forestry, energy, infrastructure and government operations. Satellogic also offers access to satellite data and imaging capacity for organizations that need tailored Earth-observation capabilities.