Satellogic (NASDAQ:SATL) Shares Up 9% – Time to Buy?

Satellogic Inc. (NASDAQ:SATL)’s stock price traded up 9% during trading on Tuesday. The company traded as high as $4.04 and last traded at $4.0450. 1,279,261 shares were traded during trading, a decline of 85% from the average session volume of 8,325,935 shares. The stock had previously closed at $3.71.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Satellogic in a research note on Monday, September 21st. Roth Capital reaffirmed a “buy” rating on shares of Satellogic in a research note on Thursday, August 6th. Wall Street Zen lowered Satellogic from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Zacks Research lowered Satellogic from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Satellogic in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Satellogic currently has an average rating of “Moderate Buy” and a consensus price target of $8.90.

Satellogic Stock Down 3.5%

The company has a current ratio of 2.34, a quick ratio of 2.31 and a debt-to-equity ratio of 2.65. The firm’s 50 day moving average price is $4.93 and its two-hundred day moving average price is $5.27. The company has a market capitalization of $585.75 million, a price-to-earnings ratio of -4.65 and a beta of 1.37.

Satellogic (NASDAQ:SATL) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.10). The business 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%. Sell-side analysts anticipate that Satellogic Inc. will post -0.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Satellogic

Several large investors have recently modified their holdings of the stock. Allworth Financial LP boosted its holdings in Satellogic by 69.4% in the 2nd quarter. Allworth Financial LP now owns 6,214 shares of the company’s stock valued at $36,000 after purchasing an additional 2,545 shares during the period. Integrated Wealth Concepts LLC acquired a new position in shares of Satellogic during the 2nd quarter worth approximately $46,000. Trueblood Wealth Management LLC acquired a new position in shares of Satellogic during the 3rd quarter worth approximately $55,000. Krilogy Financial LLC bought a new position in shares of Satellogic during the first quarter worth approximately $60,000. Finally, Commonwealth Financial Services LLC bought a new position in shares of Satellogic during the first quarter worth approximately $82,000. 17.58% of the stock is owned by institutional investors.

Satellogic Company Profile

Satellogic Inc is a geospatial intelligence company that designs, manufactures and operates a constellation of Earth observation satellites. Its satellites collect high-resolution, multispectral imagery intended to help customers monitor changes on the planet’s surface, including activity related to agriculture, infrastructure, natural resources, climate and national security.

The company provides access to satellite imagery, analytics and related data products through its platform. Satellogic also offers satellite-as-a-service and sovereign constellation solutions, allowing government and commercial customers to obtain dedicated Earth observation capabilities and build applications based on frequently updated geospatial data.

Founded in 2010 by Emiliano Kargieman, Satellogic is headquartered in Montevideo, Uruguay, and serves customers in multiple international markets.