Satellogic (NASDAQ:SATL) Coverage Initiated at Northland Securities

Analysts at Northland Securities began coverage on shares of Satellogic (NASDAQ:SATL) in a research note issued on Wednesday, MarketBeat.com reports. The brokerage set an “outperform” rating and a $5.50 price target on the stock. Northland Securities’ target price would suggest a potential upside of 91.64% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Craig Hallum assumed coverage on Satellogic in a report on Wednesday, January 21st. They set a “buy” rating and a $5.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Satellogic in a report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.25.

Satellogic Stock Performance

Shares of SATL stock opened at $2.87 on Wednesday. The company has a 50-day simple moving average of $3.06 and a 200 day simple moving average of $2.91. Satellogic has a 52 week low of $1.25 and a 52 week high of $5.93. The company has a market capitalization of $388.80 million, a price-to-earnings ratio of -11.96 and a beta of 1.39.

Insider Buying and Selling at Satellogic

In other news, major shareholder Fitzgerald L. P. Cantor sold 5,575 shares of the company’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $5.55, for a total value of $30,941.25. Following the sale, the insider directly owned 12,856,500 shares of the company’s stock, valued at $71,353,575. This represents a 0.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders sold 524,373 shares of company stock valued at $2,942,676. 51.62% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SATL. ProShare Advisors LLC increased its holdings in shares of Satellogic by 30.2% in the 4th quarter. ProShare Advisors LLC now owns 15,349 shares of the company’s stock valued at $29,000 after purchasing an additional 3,561 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in shares of Satellogic during the second quarter valued at approximately $25,000. BNP Paribas Financial Markets grew its position in shares of Satellogic by 107.5% in the third quarter. BNP Paribas Financial Markets now owns 13,613 shares of the company’s stock valued at $45,000 after purchasing an additional 7,052 shares during the period. Legal & General Group Plc acquired a new position in shares of Satellogic during the 2nd quarter valued at about $27,000. Finally, Farther Finance Advisors LLC purchased a new position in Satellogic during the third quarter worth approximately $26,000. Institutional investors and hedge funds own 17.58% of the company’s stock.

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.