Satellogic (NASDAQ:SATL) Hits New 1-Year High – Here’s What Happened

by · The Markets Daily

Satellogic Inc. (NASDAQ:SATLGet Free Report)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as $7.39 and last traded at $7.1110, with a volume of 410266 shares. The stock had previously closed at $6.95.

Analysts Set New Price Targets

SATL has been the topic of several recent research reports. Craig Hallum initiated coverage on shares of Satellogic in a research note on Wednesday, January 21st. They issued 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 research note on Thursday, January 22nd. Zacks Research upgraded shares of Satellogic to a “hold” rating in a research note on Thursday, February 19th. Freedom Capital upgraded shares of Satellogic to a “strong-buy” rating in a research note on Wednesday, March 11th. Finally, Wall Street Zen upgraded shares of Satellogic from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.50.

View Our Latest Research Report on Satellogic

Satellogic Stock Up 4.0%

The company’s fifty day moving average is $4.03 and its 200-day moving average is $3.05. The company has a market capitalization of $1.03 billion, a PE ratio of -29.06 and a beta of 0.99. The company has a debt-to-equity ratio of 0.93, a quick ratio of 5.02 and a current ratio of 5.12.

Satellogic (NASDAQ:SATLGet Free Report) last released its earnings results on Thursday, March 19th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.23. The company had revenue of $6.25 million during the quarter, compared to analyst estimates of $3.83 million. Satellogic had a negative net margin of 27.01% and a negative return on equity of 34.92%.

Insider Transactions at Satellogic

In related news, insider Fitzgerald L. P. Cantor sold 500,000 shares of the stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $5.01, for a total value of $2,505,000.00. Following the completion of the sale, the insider directly owned 12,356,500 shares of the company’s stock, valued at approximately $61,906,065. This represents a 3.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have sold 1,024,373 shares of company stock valued at $5,447,676. Corporate insiders own 51.62% of the company’s stock.

Institutional Investors Weigh In On Satellogic

A number of institutional investors have recently added to or reduced their stakes in SATL. Neuberger Berman Group LLC purchased a new stake in Satellogic during the 4th quarter valued at approximately $25,000. StoneX Group Inc. purchased a new stake in Satellogic during the 4th quarter valued at approximately $25,000. Abel Hall LLC purchased a new stake in Satellogic during the 4th quarter valued at approximately $25,000. Farther Finance Advisors LLC purchased a new stake in Satellogic during the 3rd quarter valued at approximately $26,000. Finally, Legal & General Group Plc purchased a new stake in Satellogic during the 2nd quarter valued at approximately $27,000. 17.58% of the stock is owned by hedge funds and other institutional investors.

About Satellogic

(Get Free Report)

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.

Further Reading