Satellogic (NASDAQ:SATL) Stock Price Up 9% – Here’s Why

Satellogic Inc. (NASDAQ:SATL) traded up 9% during mid-day trading on Tuesday. The stock traded as high as $4.04 and last traded at $4.0450. Approximately 1,279,261 shares were traded during trading, a decline of 85% from the average session volume of 8,325,935 shares. The stock had previously closed at $3.71.

Analyst Ratings Changes

SATL has been the topic of a number of recent analyst reports. Roth Capital reissued a “buy” rating on shares of Satellogic in a research note on Thursday, August 6th. Cantor Fitzgerald reissued an “overweight” rating on shares of Satellogic in a report on Monday, September 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Satellogic in a research report on Friday, August 7th. Zacks Research cut Satellogic from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Finally, Wall Street Zen cut Satellogic from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. One 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 company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $8.90.

Satellogic Stock Up 9.3%

The company has a market capitalization of $623.42 million, a PE ratio of -4.95 and a beta of 1.37. The business has a 50-day moving average of $5.01 and a 200 day moving average of $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 (NASDAQ:SATL) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate 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 negative net margin of 325.65% and a positive return on equity of 303.84%. Equities research analysts predict that Satellogic Inc. will post -0.02 earnings per share for the current year.

Institutional Trading of Satellogic

Several hedge funds have recently modified their holdings of SATL. Trueblood Wealth Management LLC bought a new position in shares of Satellogic during the 3rd quarter worth approximately $55,000. SBI Securities Co. Ltd. raised its stake in Satellogic by 23.4% in the third quarter. SBI Securities Co. Ltd. now owns 16,005 shares of the company’s stock valued at $89,000 after buying an additional 3,035 shares during the last quarter. Hidden Cove Wealth Management LLC boosted its holdings in Satellogic by 21.6% in the third quarter. Hidden Cove Wealth Management LLC now owns 38,545 shares of the company’s stock worth $213,000 after acquiring an additional 6,843 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new position in Satellogic during the 3rd quarter valued at approximately $749,000. Finally, Veracity Capital LLC lifted its stake in shares of Satellogic by 4.7% during the third quarter. Veracity Capital LLC now owns 62,348 shares of the company’s stock worth $345,000 after buying an additional 2,772 shares during the period. 17.58% of the stock is owned by hedge funds and other institutional investors.

Satellogic Company Profile

Satellogic Inc is a geospatial intelligence company that designs, manufactures and operates a constellation of Earth observation satellites. Its satellites collect high-resolution, multispectral imagery intended to help customers monitor changes on the planet’s surface, including activity related to agriculture, infrastructure, natural resources, climate and national security.

The company provides access to satellite imagery, analytics and related data products through its platform. Satellogic also offers satellite-as-a-service and sovereign constellation solutions, allowing government and commercial customers to obtain dedicated Earth observation capabilities and build applications based on frequently updated geospatial data.

Founded in 2010 by Emiliano Kargieman, Satellogic is headquartered in Montevideo, Uruguay, and serves customers in multiple international markets.