Satellogic (NASDAQ:SATL) Price Target Cut to $7.00 by Analysts at Cantor Fitzgerald

Satellogic (NASDAQ:SATL) had its target price reduced by Cantor Fitzgerald from $9.00 to $7.00 in a research report report published on Wednesday morning, MarketBeat Ratings reports. Cantor Fitzgerald currently has an overweight rating on the stock.

SATL has been the topic of a number of other reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Satellogic in a research note on Wednesday, November 4th. Zacks Research lowered Satellogic from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. Wall Street Zen cut shares of Satellogic from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Finally, Roth Capital reiterated a “buy” rating on shares of Satellogic in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Satellogic currently has an average rating of “Moderate Buy” and a consensus price target of $8.50.

Satellogic Stock Performance

Satellogic stock opened at $3.80 on Wednesday. Satellogic has a twelve month low of $1.25 and a twelve month high of $12.00. The company has a quick ratio of 2.31, a current ratio of 2.34 and a debt-to-equity ratio of 2.65. The company has a market capitalization of $584.21 million, a P/E ratio of -5.76 and a beta of 1.49. The stock’s 50 day moving average is $4.59 and its 200 day moving average is $5.26.

Satellogic (NASDAQ:SATL) last announced its quarterly earnings data on Tuesday, November 10th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.16. Satellogic had a positive return on equity of 15.02% and a negative net margin of 179.55%. The business had revenue of $16.04 million during the quarter, compared to analysts’ expectations of $12.44 million. On average, equities research analysts predict that Satellogic will post -0.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Satellogic

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its stake in Satellogic by 4,052.9% during the 1st quarter. Royal Bank of Canada now owns 417,033 shares of the company’s stock valued at $2,269,000 after purchasing an additional 406,991 shares during the last quarter. Tidal Investments LLC bought a new stake in shares of Satellogic in the 2nd quarter worth $11,613,000. Bank of New York Mellon Corp purchased a new position in shares of Satellogic in the second quarter worth $1,278,000. Sei Investments Co. purchased a new position in shares of Satellogic in the first quarter worth $1,607,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Satellogic in the first quarter worth $6,463,000. 17.58% of the stock is owned by institutional investors.

Top Satellogic Stories

Investors following SATL have been watching these stories:

• Positive Sentiment: Revenue reached a record $16.0 million, up 342% year over year and ahead of expectations. Satellogic also reported a second consecutive quarter of positive adjusted EBITDA. Company earnings release
• Positive Sentiment: The company said its Merlin.01 satellite is operating and announced an agreement to sell three in-orbit satellites for approximately $37 million. It also cited four customer agreements covering seven satellites over the past year.
• Negative Sentiment: Cantor Fitzgerald lowered its price target from $9 to $7, a potentially cautious signal, though it maintained an “overweight” rating.

About Satellogic

Satellogic is a space technology company that designs, manufactures and operates Earth-observation satellites. It provides satellite imagery and geospatial data products to customers seeking information about conditions and changes on the ground. The company’s services include imagery and monitoring solutions for applications such as agriculture, forestry, energy, infrastructure and government operations. Satellogic also offers access to satellite data and imaging capacity for organizations that need tailored Earth-observation capabilities.