Satellogic (NASDAQ:SATL) Stock Jumps 12.6% – Here’s What Happened

Shares of Satellogic Inc. (NASDAQ:SATL) were up 12.6% during mid-day trading on Friday. The stock traded as high as $3.26 and last traded at $3.2550. Approximately 2,074,070 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 8,191,202 shares. The stock had previously closed at $2.89.

Analyst Ratings Changes

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

Satellogic Trading Up 17.8%

The stock has a market cap of $523.48 million, a P/E ratio of -4.13 and a beta of 1.49. The company has a debt-to-equity ratio of 2.65, a quick ratio of 2.31 and a current ratio of 2.34. The stock’s fifty day moving average is $4.68 and its 200 day moving average is $5.26.

Satellogic (NASDAQ:SATL) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.10). Satellogic had a positive return on equity of 303.84% and a negative net margin of 325.65%. The company had revenue of $15.92 million for the quarter, compared to the consensus estimate of $9.57 million. As a group, equities research analysts predict that Satellogic Inc. will post -0.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Satellogic

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Joel Isaacson & Co. LLC bought a new position in shares of Satellogic during the 3rd quarter valued at approximately $149,000. Jefferies Financial Group Inc. purchased a new stake in Satellogic during the 3rd quarter valued at $588,000. StoneX Group Inc. bought a new stake in Satellogic in the third quarter worth $75,000. Kestra Advisory Services LLC bought a new position in Satellogic during the third quarter valued at $57,000. Finally, Commonwealth Equity Services LLC bought a new position in Satellogic during the third quarter valued at $77,000. Hedge funds and other institutional investors own 17.58% of the company’s stock.

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.