Tidal Investments LLC Takes Position in Satellogic Inc. $SATL

Tidal Investments LLC purchased a new position in shares of Satellogic Inc. (NASDAQ:SATL) during the second quarter, HoldingsChannel reports. The firm purchased 2,030,328 shares of the company’s stock, valued at approximately $11,613,000.

Other large investors have also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its position in Satellogic by 69.4% in the second quarter. Allworth Financial LP now owns 6,214 shares of the company’s stock valued at $36,000 after purchasing an additional 2,545 shares during the period. Legal & General Group Plc purchased a new position in shares of Satellogic during the 2nd quarter worth approximately $27,000. Integrated Wealth Concepts LLC purchased a new position in shares of Satellogic during the 2nd quarter worth approximately $46,000. LMR Partners LLP acquired a new stake in shares of Satellogic in the 2nd quarter valued at approximately $30,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Satellogic in the 3rd quarter valued at approximately $33,000. 17.58% of the stock is owned by hedge funds and other institutional investors.

Satellogic Price Performance

Shares of NASDAQ:SATL opened at $4.79 on Friday. The firm has a market capitalization of $736.41 million, a price-to-earnings ratio of -5.84 and a beta of 1.36. 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 business’s 50 day simple moving average is $4.69 and its 200-day simple moving average is $5.71. Satellogic Inc. has a 12 month low of $1.25 and a 12 month high of $12.00.

Satellogic (NASDAQ:SATL) last issued its quarterly earnings data 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). The firm had revenue of $15.92 million for the quarter, compared to analyst estimates of $9.57 million. Satellogic had a positive return on equity of 303.84% and a negative net margin of 325.65%. As a group, equities analysts forecast that Satellogic Inc. will post -0.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SATL has been the topic of a number of recent analyst reports. Cantor Fitzgerald dropped their price objective on Satellogic from $10.00 to $9.00 and set an “overweight” rating on the stock in a report on Thursday, August 6th. Roth Capital reissued a “buy” rating on shares of Satellogic in a report on Thursday, August 6th. Zacks Research lowered shares of Satellogic from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Satellogic in a report on Friday, August 7th. Finally, Northland Securities set a $11.00 price objective on shares of Satellogic in a research note on Thursday, May 28th. 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 given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $8.90.

Satellogic 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.