Satellogic (NASDAQ:SATL) Reaches New 1-Year High – Still a Buy?

Shares of Satellogic Inc. (NASDAQ:SATL) hit a new 52-week high during trading on Monday . The company traded as high as $8.48 and last traded at $8.5490, with a volume of 6101020 shares trading hands. The stock had previously closed at $7.57.

Wall Street Analyst Weigh In

A number of brokerages have commented on SATL. Zacks Research upgraded Satellogic to a “hold” rating in a research note on Thursday, February 19th. Northland Securities began coverage on Satellogic in a research note on Wednesday, February 18th. They issued an “outperform” rating and a $5.50 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Satellogic in a research note on Thursday, January 22nd. Loop Capital set a $4.50 target price on Satellogic in a research note on Wednesday, March 11th. Finally, Freedom Capital downgraded Satellogic from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Four equities research 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 MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $6.40.

Satellogic Stock Performance

The company has a quick ratio of 5.02, a current ratio of 5.12 and a debt-to-equity ratio of 0.93. The company has a 50-day moving average price of $5.33 and a 200-day moving average price of $3.52. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of -34.80 and a beta of 1.06.

Satellogic (NASDAQ:SATL) last issued its quarterly earnings data 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 business had revenue of $6.25 million during the quarter, compared to the consensus estimate of $3.83 million. Satellogic had a negative return on equity of 34.92% and a negative net margin of 27.01%. As a group, equities research analysts forecast that Satellogic Inc. will post -0.17 earnings per share for the current year.

Insider Activity

In other news, insider Fitzgerald L. P. Cantor sold 500,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the insider directly owned 12,356,500 shares in the company, valued at approximately $61,906,065. The trade was a 3.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 51.62% of the company’s stock.

Hedge Funds Weigh In On Satellogic

Hedge funds and other institutional investors have recently made changes to their positions in the business. Legal & General Group Plc acquired a new position in shares of Satellogic during the second quarter worth approximately $27,000. Farther Finance Advisors LLC acquired a new position in shares of Satellogic during the third quarter worth approximately $26,000. LMR Partners LLP acquired a new position in shares of Satellogic during the second quarter worth approximately $30,000. Squarepoint Ops LLC acquired a new position in shares of Satellogic during the third quarter worth approximately $33,000. Finally, Krilogy Financial LLC acquired a new position in shares of Satellogic during the first quarter worth approximately $60,000. 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.