Satellogic (NASDAQ:SATL) Shares Up 8.3% – Time to Buy?

Shares of Satellogic Inc. (NASDAQ:SATL) rose 8.3% during mid-day trading on Monday . The stock traded as high as $5.50 and last traded at $5.5350. 1,814,753 shares changed hands during trading, a decline of 79% from the average session volume of 8,832,149 shares. The stock had previously closed at $5.11.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SATL shares. Wall Street Zen lowered shares of Satellogic from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Zacks Research downgraded Satellogic from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Satellogic in a research report on Friday, August 7th. Roth Capital reaffirmed a “buy” rating on shares of Satellogic in a report on Thursday, August 6th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Satellogic in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Satellogic has a consensus rating of “Moderate Buy” and a consensus price target of $8.90.

Satellogic Stock Performance

The stock’s 50 day moving average price is $4.78 and its 200 day moving average price is $5.83. The company has a debt-to-equity ratio of 2.65, a quick ratio of 2.31 and a current ratio of 2.34. The company has a market capitalization of $882.47 million, a P/E ratio of -7.00 and a beta of 1.36.

Satellogic (NASDAQ:SATL) last announced its 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 firm had revenue of $15.92 million for the quarter, compared to the consensus estimate of $9.57 million. Satellogic had a positive return on equity of 303.84% and a negative net margin of 325.65%. As a group, equities analysts expect that Satellogic Inc. will post -0.02 EPS for the current year.

Institutional Investors Weigh In On Satellogic

A number of hedge funds have recently added to or reduced their stakes in SATL. Tidal Investments LLC acquired a new stake in Satellogic in the second quarter worth $11,613,000. Tema ETFs LLC bought a new stake in Satellogic in the second quarter valued at $8,640,000. Renaissance Technologies LLC acquired a new position in shares of Satellogic during the first quarter valued at about $6,463,000. Royal Bank of Canada raised its holdings in shares of Satellogic by 4,052.9% during the first quarter. Royal Bank of Canada now owns 417,033 shares of the company’s stock valued at $2,269,000 after purchasing an additional 406,991 shares during the period. Finally, Sei Investments Co. bought a new position in shares of Satellogic during the 1st quarter worth about $1,607,000. 17.58% of the stock is currently owned by institutional investors.

Satellogic Company Profile

Satellogic Inc (NASDAQ:SATL) is a geospatial intelligence company that designs, builds and operates a constellation of Earth-observation satellites. The company collects high-resolution multispectral imagery and other remote-sensing data intended to help customers monitor changes on the ground and make more informed decisions.

Satellogic provides satellite imagery, tasking and data-access services through its platform, which is designed to support frequent observation of locations worldwide.