Satellogic (NASDAQ:SATL) Shares Up 14.2% – Here’s What Happened

Shares of Satellogic Inc. (NASDAQ:SATL) were up 14.2% during mid-day trading on Thursday . The stock traded as high as $7.57 and last traded at $7.8710. Approximately 5,481,161 shares traded hands during trading, a decline of 50% from the average daily volume of 10,893,573 shares. The stock had previously closed at $6.89.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SATL shares. Zacks Research raised Satellogic to a “hold” rating in a research note on Thursday, February 19th. Cantor Fitzgerald set a $7.00 price target on Satellogic in a research note on Friday, February 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Satellogic in a research note on Thursday, January 22nd. Loop Capital set a $4.50 price target on Satellogic in a research note on Wednesday, March 11th. Finally, Craig Hallum started coverage on Satellogic in a research note on Wednesday, January 21st. They set a “buy” rating and a $5.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $5.50.

Satellogic Stock Performance

The company has a debt-to-equity ratio of 0.93, a quick ratio of 5.02 and a current ratio of 5.12. The business has a 50 day moving average price of $4.06 and a two-hundred day moving average price of $3.08. The company has a market cap of $1.08 billion, a P/E ratio of -30.66 and a beta of 0.99.

Satellogic (NASDAQ:SATL) last released its earnings results on Thursday, March 19th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $6.25 million during the quarter, compared to analyst estimates of $3.83 million.

Insider Buying and Selling at Satellogic

In other news, insider Fitzgerald L. P. Cantor sold 500,000 shares of the business’s 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 sale, the insider owned 12,356,500 shares of the company’s stock, valued at approximately $61,906,065. The trade was a 3.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders sold 1,024,373 shares of company stock valued at $5,447,676. Insiders own 51.62% of the company’s stock.

Institutional Investors Weigh In On Satellogic

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