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

Satellogic Inc. (NASDAQ:SATL)’s share price traded up 5.5% during mid-day trading on Friday . The company traded as high as $3.76 and last traded at $3.7650. Approximately 2,279,322 shares traded hands during trading, a decline of 77% from the average session volume of 10,030,604 shares. The stock had previously closed at $3.57.

Analyst Ratings Changes

Several research analysts have recently weighed in on SATL shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Satellogic in a research report on Monday, June 15th. Zacks Research upgraded Satellogic from a “hold” rating to a “strong-buy” rating in a report on Friday, July 10th. Roth Capital increased their target price on shares of Satellogic from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Citigroup reiterated an “outperform” rating on shares of Satellogic in a research note on Wednesday, May 13th. Finally, Wall Street Zen raised shares of Satellogic from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $9.10.

Satellogic Stock Performance

The stock has a market cap of $582.73 million, a PE ratio of -5.22 and a beta of 1.26. 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 stock has a fifty day moving average of $6.97 and a 200-day moving average of $5.34.

Satellogic (NASDAQ:SATL) last issued its quarterly earnings results on Tuesday, March 31st. The company reported ($0.84) earnings per share for the quarter. The company had revenue of $6.11 million for the quarter. Satellogic had a negative return on equity of 100.03% and a negative net margin of 443.06%. On average, equities analysts forecast that Satellogic Inc. will post -0.11 EPS for the current year.

Insider Buying and Selling at Satellogic

In other Satellogic news, CTO Alan Kharsansky sold 87,091 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $8.35, for a total value of $727,209.85. Following the completion of the transaction, the chief technology officer owned 47,785 shares in the company, valued at approximately $399,004.75. This represents a 64.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Liberty 77 Capital L.P. sold 10,000,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $9.77, for a total transaction of $97,700,000.00. Following the completion of the sale, the director owned 10,000,000 shares of the company’s stock, valued at $97,700,000. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 38.84% of the company’s stock.

Hedge Funds Weigh In On Satellogic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Halter Ferguson Financial Inc. raised its position in shares of Satellogic by 116.0% during the 4th quarter. Halter Ferguson Financial Inc. now owns 839,832 shares of the company’s stock worth $1,570,000 after purchasing an additional 450,957 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in Satellogic by 223,650.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 277,450 shares of the company’s stock worth $519,000 after buying an additional 277,326 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in Satellogic in the first quarter valued at approximately $584,000. Thompson Davis & CO. Inc. acquired a new stake in shares of Satellogic during the 4th quarter worth $41,000. Finally, Barclays PLC increased its stake in Satellogic by 34.8% during the fourth quarter. Barclays PLC now owns 131,119 shares of the company’s stock worth $245,000 after acquiring an additional 33,882 shares during the last quarter. Institutional investors and hedge funds 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.