Satellogic (NASDAQ:SATL) Shares Gap Up – What’s Next?

Satellogic Inc. (NASDAQ:SATL)’s stock price gapped up prior to trading on Wednesday. The stock had previously closed at $3.69, but opened at $3.90. Satellogic shares last traded at $3.8640, with a volume of 732,166 shares traded.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SATL. Weiss Ratings restated a “sell (d-)” rating on shares of Satellogic in a research note on Friday, August 7th. Roth Capital reaffirmed a “buy” rating on shares of Satellogic in a report on Thursday, August 6th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Satellogic in a research report on Monday, September 21st. Freedom Capital raised Satellogic from a “hold” rating to a “strong-buy” rating in a report on Monday, June 29th. Finally, Zacks Research downgraded Satellogic from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.90.

Satellogic Stock Down 5.1%

The company has a debt-to-equity ratio of 2.65, a current ratio of 2.34 and a quick ratio of 2.31. The firm has a market capitalization of $574.99 million, a P/E ratio of -4.56 and a beta of 1.37. The company’s 50-day simple moving average is $5.07 and its two-hundred day simple moving average is $5.92.

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

Institutional Trading of Satellogic

Several hedge funds have recently made changes to their positions in the business. Allworth Financial LP lifted its stake in Satellogic by 69.4% in the second quarter. Allworth Financial LP now owns 6,214 shares of the company’s stock worth $36,000 after purchasing an additional 2,545 shares during the last quarter. Veracity Capital LLC raised its holdings in shares of Satellogic by 4.7% in the third quarter. Veracity Capital LLC now owns 62,348 shares of the company’s stock worth $345,000 after buying an additional 2,772 shares during the period. SBI Securities Co. Ltd. raised its holdings in shares of Satellogic by 23.4% in the third quarter. SBI Securities Co. Ltd. now owns 16,005 shares of the company’s stock worth $89,000 after buying an additional 3,035 shares during the period. Hidden Cove Wealth Management LLC raised its holdings in shares of Satellogic by 21.6% in the third quarter. Hidden Cove Wealth Management LLC now owns 38,545 shares of the company’s stock worth $213,000 after buying an additional 6,843 shares during the period. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of Satellogic during the 2nd quarter worth approximately $46,000. 17.58% of the stock is currently owned by hedge funds and other institutional investors.

About Satellogic

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.