Satellogic (NASDAQ:SATL) Shares Up 5.5% – Here’s Why

Satellogic Inc. (NASDAQ:SATL) shares were up 5.5% during trading on Thursday . The company traded as high as $7.52 and last traded at $7.2980. Approximately 3,511,095 shares changed hands during trading, a decline of 68% from the average daily volume of 11,031,578 shares. The stock had previously closed at $6.92.

Analysts Set New Price Targets

A number of analysts have commented on SATL shares. Zacks Research raised Satellogic to a “hold” rating in a research report on Thursday, February 19th. Loop Capital set a $4.50 price target on Satellogic in a research report on Wednesday, March 11th. Freedom Capital raised Satellogic to a “strong-buy” rating in a research report on Wednesday, March 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Satellogic in a report on Thursday, January 22nd. Finally, Cantor Fitzgerald set a $7.00 price objective on Satellogic in a report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $5.50.

Satellogic Trading Up 4.3%

The firm has a market cap of $1.03 billion, a price-to-earnings ratio of -28.86 and a beta of 0.99. The company has a fifty day moving average price of $4.35 and a 200-day moving average price of $3.21. The company has a current ratio of 5.12, a quick ratio of 5.02 and a debt-to-equity ratio of 0.93.

Satellogic (NASDAQ:SATL) last announced its quarterly earnings results on Thursday, March 19th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.23. Satellogic had a negative return on equity of 34.92% and a negative net margin of 27.01%.The firm had revenue of $6.25 million during the quarter, compared to analyst estimates of $3.83 million.

Insider Buying and Selling at Satellogic

In related news, insider Fitzgerald L. P. Cantor sold 500,000 shares of Satellogic stock in a transaction dated 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 in the company, valued at $61,906,065. The trade was a 3.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 1,024,373 shares of company stock valued at $5,447,676. 51.62% of the stock is owned by insiders.

Hedge Funds Weigh In On Satellogic

Several institutional investors and hedge funds have recently modified their holdings of SATL. StoneX Group Inc. purchased a new stake in Satellogic during the 4th quarter worth approximately $25,000. Abel Hall LLC purchased a new stake in Satellogic during the 4th quarter worth approximately $25,000. Neuberger Berman Group LLC purchased a new stake in Satellogic during the 4th quarter worth approximately $25,000. Farther Finance Advisors LLC purchased a new stake in Satellogic during the 3rd quarter worth approximately $26,000. Finally, Legal & General Group Plc purchased a new stake in Satellogic during the 2nd quarter worth approximately $27,000. Hedge funds and other institutional investors 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.