Satellogic (NASDAQ:SATL) Sets New 52-Week High – Here’s Why

Satellogic Inc. (NASDAQ:SATL) reached a new 52-week high on Tuesday . The company traded as high as $11.68 and last traded at $11.55, with a volume of 2175187 shares trading hands. The stock had previously closed at $10.61.

Analysts Set New Price Targets

SATL has been the subject of several research reports. Wall Street Zen lowered Satellogic from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Roth Mkm assumed coverage on shares of Satellogic in a report on Friday, May 8th. They set a “buy” rating and a $10.00 target price for the company. Weiss Ratings raised shares of Satellogic from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Cantor Fitzgerald upped their target price on shares of Satellogic from $7.00 to $10.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. Finally, Freedom Capital lowered Satellogic from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $7.70.

Satellogic Price Performance

The company has a debt-to-equity ratio of 0.93, a current ratio of 2.44 and a quick ratio of 2.41. The stock’s fifty day moving average is $6.78 and its 200-day moving average is $4.12. The stock has a market cap of $1.56 billion, a PE ratio of -14.57 and a beta of 1.06.

Satellogic (NASDAQ:SATL) last announced its quarterly earnings data on Tuesday, March 31st. The company reported ($0.84) earnings per share (EPS) for the quarter. Satellogic had a negative net margin of 443.06% and a negative return on equity of 100.03%. The firm had revenue of $6.11 million during the quarter. As a group, equities analysts anticipate that Satellogic Inc. will post -0.11 EPS for the current year.

Insider Activity at Satellogic

In related news, CTO Alan Kharsansky sold 87,091 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $8.35, for a total value of $727,209.85. Following the completion of the transaction, the chief technology officer directly owned 47,785 shares in the company, valued at approximately $399,004.75. This represents a 64.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Fitzgerald L. P. Cantor sold 500,000 shares of the stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $5.01, for a total value of $2,505,000.00. Following the completion of the transaction, the insider owned 12,356,500 shares of the company’s stock, valued at $61,906,065. The trade was a 3.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 51.62% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Abel Hall LLC purchased a new position in Satellogic during the fourth quarter worth about $25,000. StoneX Group Inc. purchased a new position in Satellogic during the fourth quarter worth about $25,000. Neuberger Berman Group LLC purchased a new position in Satellogic during the fourth quarter worth about $25,000. Legal & General Group Plc purchased a new position in Satellogic during the second quarter worth about $27,000. Finally, ProShare Advisors LLC boosted its stake in Satellogic by 30.2% during the fourth quarter. ProShare Advisors LLC now owns 15,349 shares of the company’s stock worth $29,000 after buying an additional 3,561 shares during the period. 17.58% of the stock is currently owned by hedge funds and other institutional investors.

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.