Satellogic (NASDAQ:SATL) Shares Gap Up – What’s Next?

Satellogic Inc. (NASDAQ:SATL)’s stock price gapped up before the market opened on Wednesday. The stock had previously closed at $3.69, but opened at $3.90. Satellogic shares last traded at $3.8640, with a volume of 732,166 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SATL. Zacks Research downgraded shares of Satellogic from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Satellogic in a report on Friday, August 7th. Roth Capital reaffirmed a “buy” rating on shares of Satellogic in a research report on Thursday, August 6th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Satellogic in a report on Monday, September 21st. Finally, Wall Street Zen cut Satellogic from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $8.90.

Satellogic Price Performance

The company has a current ratio of 2.34, a quick ratio of 2.31 and a debt-to-equity ratio of 2.65. The business has a 50-day moving average price of $5.15 and a 200 day moving average price of $5.96. The stock has a market cap of $589.59 million, a PE ratio of -4.70 and a beta of 1.37.

Satellogic (NASDAQ:SATL) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.10). Satellogic had a positive return on equity of 303.84% and a negative net margin of 325.65%. The firm had revenue of $15.92 million during the quarter, compared to analysts’ expectations of $9.57 million. As a group, research analysts forecast that Satellogic Inc. will post -0.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Tidal Investments LLC purchased a new position in Satellogic in the 2nd quarter valued at approximately $11,613,000. Tema ETFs LLC purchased a new stake in shares of Satellogic during the second quarter worth $8,640,000. Renaissance Technologies LLC purchased a new stake in shares of Satellogic during the first quarter worth $6,463,000. Royal Bank of Canada lifted its position in shares of Satellogic by 4,052.9% during the first quarter. Royal Bank of Canada now owns 417,033 shares of the company’s stock worth $2,269,000 after acquiring an additional 406,991 shares in the last quarter. Finally, Sei Investments Co. bought a new position in shares of Satellogic in the first quarter worth $1,607,000. 17.58% of the stock is owned by institutional investors.

Satellogic Company Profile

Satellogic Inc (NASDAQ: SATL) is a geospatial intelligence company that operates a constellation of satellites designed to capture high-resolution imagery of Earth. Its satellites collect multispectral data that can be used to monitor changes in agriculture, infrastructure, natural resources, climate conditions and other areas of interest.

The company provides satellite imagery, tasking services and geospatial data products to government and commercial customers. Its platform is intended to support applications including defense and security, environmental monitoring, mapping, agriculture, energy and infrastructure management.