Satellogic (NASDAQ:SATL) Stock Price Up 6.5% – Time to Buy?

Shares of Satellogic Inc. (NASDAQ:SATL) shot up 6.5% on Tuesday . The company traded as high as $5.60 and last traded at $5.6750. 2,560,724 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 9,585,144 shares. The stock had previously closed at $5.33.

Analyst Ratings Changes

A number of brokerages have issued reports on SATL. Cantor Fitzgerald reduced their price objective on shares of Satellogic from $10.00 to $9.00 and set an “overweight” rating on the stock in a research report on Thursday, August 6th. Freedom Capital raised Satellogic from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 29th. Northland Securities set a $11.00 price target on Satellogic in a research report on Thursday, May 28th. Wall Street Zen lowered Satellogic from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Finally, Roth Capital reissued a “buy” rating on shares of Satellogic in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Satellogic has an average rating of “Moderate Buy” and an average price target of $8.90.

Satellogic Price Performance

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 company has a market capitalization of $886.48 million, a PE ratio of -7.29 and a beta of 1.31. The firm has a 50-day moving average of $5.08 and a 200 day moving average of $5.52.

Satellogic (NASDAQ:SATL) last issued its earnings results on Wednesday, August 5th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.10). The business had revenue of $15.92 million during the quarter, compared to analysts’ expectations of $9.57 million. Satellogic had a positive return on equity of 303.84% and a negative net margin of 325.65%. As a group, research analysts anticipate that Satellogic Inc. will post -0.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Satellogic

In other news, Director Liberty 77 Capital L.P. sold 10,000,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the director directly owned 10,000,000 shares of the company’s stock, valued at $97,700,000. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 38.84% of the stock is owned by insiders.

Institutional Investors Weigh In On Satellogic

A number of hedge funds have recently added to or reduced their stakes in SATL. Abel Hall LLC bought a new position in shares of Satellogic during the 4th quarter valued at $25,000. StoneX Group Inc. bought a new position in Satellogic in the fourth quarter valued at about $25,000. Neuberger Berman Group LLC purchased a new position in Satellogic in the fourth quarter worth about $25,000. Legal & General Group Plc bought a new stake in shares of Satellogic during the 2nd quarter valued at about $27,000. Finally, ProShare Advisors LLC increased its position in shares of Satellogic by 30.2% during the 4th quarter. ProShare Advisors LLC now owns 15,349 shares of the company’s stock valued at $29,000 after purchasing an additional 3,561 shares during the last quarter. 17.58% of the stock is currently owned by hedge funds and other institutional investors.

Satellogic Company Profile

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.