Satellogic (NASDAQ:SATL) Reaches New 1-Year High – Here’s What Happened

Satellogic Inc. (NASDAQ:SATL) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $10.19 and last traded at $9.0510, with a volume of 2416749 shares trading hands. The stock had previously closed at $9.84.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SATL. Northland Securities set a $9.00 price target on shares of Satellogic in a report on Wednesday, May 13th. 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 raised their price objective on shares of Satellogic from $7.00 to $10.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. Roth Mkm assumed coverage on shares of Satellogic in a report on Friday, May 8th. They issued a “buy” rating and a $10.00 price objective on the stock. Finally, Wall Street Zen downgraded shares of Satellogic from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.70.

Satellogic Stock Performance

The company has a quick ratio of 2.41, a current ratio of 2.44 and a debt-to-equity ratio of 0.93. The company has a market cap of $1.38 billion, a PE ratio of -12.88 and a beta of 1.06. The business’s fifty day moving average is $6.22 and its 200-day moving average is $3.89.

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

Insider Activity

In related news, insider Fitzgerald L. P. Cantor sold 500,000 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $5.01, for a total value of $2,505,000.00. Following the transaction, the insider owned 12,356,500 shares of the company’s stock, valued at approximately $61,906,065. This trade represents a 3.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 51.62% of the company’s stock.

Institutional Investors Weigh In On Satellogic

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. ProShare Advisors LLC raised its stake in Satellogic by 30.2% during the 4th quarter. ProShare Advisors LLC now owns 15,349 shares of the company’s stock worth $29,000 after acquiring an additional 3,561 shares during the period. Invesco Ltd. raised its stake in Satellogic by 14.0% during the 4th quarter. Invesco Ltd. now owns 46,639 shares of the company’s stock worth $87,000 after acquiring an additional 5,723 shares during the period. BNP Paribas Financial Markets raised its stake in Satellogic by 107.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,613 shares of the company’s stock worth $45,000 after acquiring an additional 7,052 shares during the period. Legal & General Group Plc bought a new stake in Satellogic during the 2nd quarter worth approximately $27,000. Finally, LMR Partners LLP bought a new stake in Satellogic during the 2nd quarter worth approximately $30,000. Institutional investors own 17.58% of the company’s stock.

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.