Satellogic (NASDAQ:SATL) Upgraded to “Strong-Buy” at Freedom Capital

Freedom Capital upgraded shares of Satellogic (NASDAQ:SATL) to a strong-buy rating in a research report released on Wednesday morning,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on the company. Zacks Research upgraded Satellogic to a “hold” rating in a report on Thursday, February 19th. Craig Hallum began coverage on shares of Satellogic in a research report on Wednesday, January 21st. They issued a “buy” rating and a $5.00 price target on the stock. Wall Street Zen downgraded Satellogic from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Satellogic in a report on Thursday, January 22nd. Finally, Cantor Fitzgerald set a $7.00 price target on shares of Satellogic in a report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $5.50.

Satellogic Trading Down 3.5%

SATL opened at $3.00 on Wednesday. Satellogic has a 12-month low of $1.25 and a 12-month high of $5.93. The business’s fifty day simple moving average is $3.47 and its 200-day simple moving average is $2.88. The company has a market capitalization of $406.41 million, a price-to-earnings ratio of -12.50 and a beta of 1.45.

Insider Activity

In other news, major shareholder Fitzgerald L. P. Cantor sold 388,827 shares of Satellogic stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $5.63, for a total value of $2,189,096.01. Following the transaction, the insider directly owned 12,862,075 shares in the company, valued at approximately $72,413,482.25. The trade was a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 524,373 shares of company stock valued at $2,942,676. Company insiders own 51.62% of the company’s stock.

Hedge Funds Weigh In On Satellogic

Several hedge funds and other institutional investors have recently modified their holdings of SATL. Ameritas Investment Partners Inc. purchased a new stake in shares of Satellogic in the second quarter worth approximately $25,000. Abel Hall LLC bought a new position in shares of Satellogic during the fourth quarter valued at approximately $25,000. StoneX Group Inc. acquired a new stake in Satellogic in the fourth quarter valued at $25,000. Neuberger Berman Group LLC bought a new position in shares of Satellogic during the fourth quarter worth about $25,000. Finally, Farther Finance Advisors LLC purchased a new position in shares of Satellogic during the third quarter valued at about $26,000. Hedge funds and other institutional investors 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.