Satellogic (NASDAQ:SATL) Shares Up 6.7% – Time to Buy?

Satellogic Inc. (NASDAQ:SATL)’s stock price was up 6.7% during trading on Friday . The company traded as high as $3.74 and last traded at $3.7250. Approximately 4,796,875 shares were traded during trading, a decline of 51% from the average daily volume of 9,762,562 shares. The stock had previously closed at $3.49.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Satellogic in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Satellogic presently has a consensus rating of “Sell”.

Satellogic Stock Up 7.3%

The firm has a market capitalization of $507.34 million, a PE ratio of -15.52 and a beta of 1.36. The stock has a 50-day moving average price of $1.98 and a 200 day moving average price of $2.85.

Satellogic (NASDAQ:SATL) last issued its earnings results on Monday, November 10th. The company reported ($0.02) earnings per share (EPS) for the quarter. The business had revenue of $3.63 million during the quarter.

Institutional Trading of Satellogic

Several hedge funds have recently made changes to their positions in SATL. Vanguard Group Inc. boosted its holdings in Satellogic by 44.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,262,216 shares of the company’s stock valued at $10,700,000 after acquiring an additional 1,002,400 shares during the period. Geode Capital Management LLC raised its position in Satellogic by 1,671.4% in the 2nd quarter. Geode Capital Management LLC now owns 874,487 shares of the company’s stock valued at $3,166,000 after purchasing an additional 825,121 shares in the last quarter. Halter Ferguson Financial Inc. purchased a new position in shares of Satellogic in the 3rd quarter valued at about $1,276,000. Penserra Capital Management LLC acquired a new position in shares of Satellogic during the second quarter worth about $380,000. Finally, Rhumbline Advisers purchased a new stake in shares of Satellogic during the second quarter worth approximately $351,000. 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.