Satellogic (NASDAQ:SATL) Shares Gap Up – What’s Next?

Satellogic Inc. (NASDAQ:SATL) shares gapped up prior to trading on Monday . The stock had previously closed at $4.62, but opened at $5.06. Satellogic shares last traded at $5.0590, with a volume of 1,833,729 shares changing hands.

Analysts Set New Price Targets

Several brokerages have recently commented on SATL. Northland Securities set a $11.00 price objective on shares of Satellogic in a research report on Thursday, May 28th. Weiss Ratings upgraded shares of Satellogic from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. Cantor Fitzgerald reissued an “overweight” rating on shares of Satellogic in a research note on Monday, June 15th. Freedom Capital cut shares of Satellogic from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Finally, Loop Capital set a $4.50 price target on shares of Satellogic in a research note on Wednesday, March 11th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.10.

Satellogic Trading Up 13.7%

The firm has a fifty day simple moving average of $7.50 and a 200-day simple moving average of $5.06. The firm has a market cap of $779.00 million, a P/E ratio of -7.03 and a beta of 1.19. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.44 and a quick ratio of 2.41.

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

Insider Buying and Selling at Satellogic

In other Satellogic news, CTO Alan Kharsansky sold 87,091 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $8.35, for a total transaction of $727,209.85. Following the transaction, the chief technology officer 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Liberty 77 Capital L.P. sold 10,000,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $9.77, for a total transaction of $97,700,000.00. Following the completion of the transaction, the director directly owned 10,000,000 shares in the company, valued at $97,700,000. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 38.84% of the company’s stock.

Institutional Investors Weigh In On Satellogic

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC raised its holdings in shares of Satellogic by 1,671.4% in the 2nd quarter. Geode Capital Management LLC now owns 874,487 shares of the company’s stock worth $3,166,000 after acquiring an additional 825,121 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in Satellogic during the 2nd quarter valued at about $118,000. Legal & General Group Plc bought a new stake in Satellogic during the 2nd quarter worth approximately $27,000. Rhumbline Advisers bought a new stake in Satellogic during the 2nd quarter worth approximately $351,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of Satellogic in the second quarter worth approximately $97,000. 17.58% of the stock is owned by institutional investors.

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.