Satellogic (NASDAQ:SATL) Shares Up 12.1% – Here’s Why

Satellogic Inc. (NASDAQ:SATL)’s stock price shot up 12.1% during mid-day trading on Thursday . The company traded as high as $7.12 and last traded at $7.04. 1,537,590 shares traded hands during trading, a decline of 85% from the average session volume of 10,507,335 shares. The stock had previously closed at $6.28.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SATL. Cantor Fitzgerald raised their price target on Satellogic from $7.00 to $10.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. Citigroup reiterated an “outperform” rating on shares of Satellogic in a research note on Wednesday, May 13th. Northland Securities set a $11.00 target price on Satellogic in a research note on Thursday, May 28th. Freedom Capital downgraded Satellogic from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings upgraded Satellogic from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $9.10.

Satellogic Stock Performance

The company has a debt-to-equity ratio of 0.93, a current ratio of 2.44 and a quick ratio of 2.41. The stock has a market capitalization of $987.28 million, a PE ratio of -8.88 and a beta of 1.19. The stock has a 50 day moving average of $7.79 and a two-hundred day moving average of $4.76.

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

Insider Activity at Satellogic

In related news, Director Liberty 77 Capital L.P. sold 10,000,000 shares of Satellogic stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $9.77, for a total value of $97,700,000.00. Following the sale, the director directly owned 10,000,000 shares in the company, valued at $97,700,000. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Alan Kharsansky sold 87,091 shares of Satellogic stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $8.35, for a total value of $727,209.85. Following the completion of the sale, the chief technology officer owned 47,785 shares in the company, valued at approximately $399,004.75. This trade represents a 64.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 10,587,091 shares of company stock worth $100,932,210 over the last three months. 38.84% of the stock is currently owned by corporate insiders.

Institutional Trading of Satellogic

A number of institutional investors have recently modified their holdings of the business. Cantor Fitzgerald L. P. boosted its stake in shares of Satellogic by 16.2% in the fourth quarter. Cantor Fitzgerald L. P. now owns 13,380,873 shares of the company’s stock valued at $25,022,000 after buying an additional 1,863,696 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of Satellogic in the fourth quarter valued at approximately $16,830,000. Vanguard Group Inc. raised its holdings in Satellogic by 44.4% during the third quarter. Vanguard Group Inc. now owns 3,262,216 shares of the company’s stock worth $10,700,000 after purchasing an additional 1,002,400 shares during the last quarter. Weiss Asset Management LP acquired a new position in Satellogic during the fourth quarter worth $4,053,000. Finally, Geode Capital Management LLC raised its holdings in Satellogic by 34.5% during the fourth quarter. Geode Capital Management LLC now owns 1,807,737 shares of the company’s stock worth $3,381,000 after purchasing an additional 463,811 shares during the last quarter. 17.58% of the stock is currently owned by hedge funds and other institutional investors.

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.