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

Satellogic Inc. (NASDAQ:SATL)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $4.64, but opened at $4.88. Satellogic shares last traded at $4.9250, with a volume of 603,927 shares.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SATL. Freedom Capital upgraded shares of Satellogic from a “hold” rating to a “strong-buy” rating in a report on Monday, June 29th. Wall Street Zen lowered shares of Satellogic from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Roth Capital reiterated a “buy” rating on shares of Satellogic in a research report on Thursday, August 6th. Cantor Fitzgerald reduced their price target on shares of Satellogic from $10.00 to $9.00 and set an “overweight” rating for the company in a research report on Thursday, August 6th. Finally, Zacks Research lowered Satellogic from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $8.90.

Satellogic Stock Performance

The stock has a 50-day moving average price of $4.72 and a 200 day moving average price of $5.71. The firm has a market cap of $767.16 million, a PE ratio of -6.09 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.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Alyeska Investment Group L.P. acquired a new position in Satellogic during the 4th quarter worth $16,830,000. Weiss Asset Management LP bought a new stake in shares of Satellogic in the 4th quarter worth about $4,053,000. Tidal Investments LLC acquired a new stake in shares of Satellogic in the 2nd quarter valued at about $11,613,000. Cantor Fitzgerald L. P. lifted its position in shares of Satellogic by 16.2% during the fourth quarter. Cantor Fitzgerald L. P. now owns 13,380,873 shares of the company’s stock worth $25,022,000 after purchasing an additional 1,863,696 shares during the last quarter. Finally, Tema ETFs LLC acquired a new position in Satellogic in the second quarter worth about $8,640,000. Institutional investors and hedge funds own 17.58% of the company’s stock.

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.