Satellogic (NASDAQ:SATL) Shares Up 12.1% – Here’s Why

Satellogic Inc. (NASDAQ:SATL)’s stock price shot up 12.1% during trading on Thursday . The stock traded as high as $7.12 and last traded at $7.04. 1,537,590 shares were traded during trading, a decline of 85% from the average session volume of 10,507,335 shares. The stock had previously closed at $6.28.

Wall Street Analyst Weigh In

Several brokerages recently commented on SATL. Zacks Research upgraded shares of Satellogic to a “hold” rating in a research note on Thursday, February 19th. Northland Securities set a $11.00 price objective on shares of Satellogic in a research note on Thursday, May 28th. Weiss Ratings upgraded shares of Satellogic from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. Cantor Fitzgerald lifted their price objective on shares of Satellogic from $7.00 to $10.00 and gave the company an “overweight” rating in a research note on Wednesday, May 13th. Finally, Loop Capital set a $4.50 price objective on shares of Satellogic in a research note on Wednesday, March 11th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $9.10.

Satellogic Trading Up 14.3%

The company has a debt-to-equity ratio of 0.93, a current ratio of 2.44 and a quick ratio of 2.41. The business’s 50 day moving average price is $7.73 and its 200-day moving average price is $4.70. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -9.56 and a beta of 1.19.

Satellogic (NASDAQ:SATL) last issued its quarterly earnings results on Tuesday, March 31st. The company reported ($0.84) earnings per share (EPS) for the quarter. Satellogic had a negative return on equity of 100.03% and a negative net margin of 443.06%.The firm had revenue of $6.11 million for the quarter. Equities analysts forecast that Satellogic Inc. will post -0.11 EPS for the current fiscal year.

Insider Transactions at Satellogic

In other news, Director Liberty 77 Capital L.P. sold 10,000,000 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $9.77, for a total transaction of $97,700,000.00. Following the transaction, the director directly owned 10,000,000 shares in the company, valued at $97,700,000. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Fitzgerald L. P. Cantor sold 500,000 shares of the business’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $5.01, for a total transaction of $2,505,000.00. Following the sale, the insider directly owned 12,356,500 shares in the company, valued at approximately $61,906,065. This represents a 3.89% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 10,587,091 shares of company stock worth $100,932,210 over the last ninety days. 38.84% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Satellogic

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings in Satellogic by 1,671.4% during the second quarter. Geode Capital Management LLC now owns 874,487 shares of the company’s stock worth $3,166,000 after purchasing an additional 825,121 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in Satellogic during the second quarter worth $118,000. Legal & General Group Plc acquired a new position in Satellogic during the second quarter worth $27,000. Rhumbline Advisers acquired a new position in Satellogic during the second quarter worth $351,000. Finally, New York State Common Retirement Fund acquired a new position in Satellogic during the second quarter worth $97,000. 17.58% of the stock is currently owned by institutional investors and hedge funds.

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.